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Step inside the Group Partner Lounge to hear Y Combinator Group Partners Harj Taggar, Michael Seibel and Brad Flora discuss what startups waste money on—from marketing and sales to legal and hiring.
Chapters (Powered by https://bit.ly/chapterme-yc) –
00:00 – Introduction
02:19 – Hiring lies
04:50 – Contractors
06:51 – Marketing spend
09:53 – Brand advertising
11:02 – Approach events like a startup founder
12:20 – PR
16:01 – Lawyers
20:22 – Advisors
24:39 – Devil’s advocate
Apply to Y Combinator: https://www.ycombinator.com/apply/
Work at a startup: https://www.workatastartup.com/
#startups #money #tech #business
Date: July 8, 2022
Bit late finding the Ycombinator YouTube channel, but thank you so much for making these videos.
So valuable.
Picking the right contractor is a pivotal factor for startup success, and while it may sound cliché, its significance cannot be overstated.
At JetSoftPro, a software development service with two decades of experience, we've consistently demonstrated the advantages of outsourcing over hiring in-house staff. From cost savings to the flexibility of engaging a skilled team on a per-project basis, the benefits are substantial.
However, the key lies in selecting technical partners aligned with your needs. It involves scrutinizing case studies, engaging with technical teams, evaluating management, and considering reviews.
I asked a law firm to write me an EULA – they declined my business since they were too busy. Probably dodged a bullet.
🎯 Key Takeaways for quick navigation:
00:00 🤝 Introduction to the video topic and speakers
– Introduction to the discussion about common financial mistakes by startups
– Emphasis on the repetitive nature of the advice given to startups
01:37 💸 Common financial mistakes made by startups
– Detailed exploration of the financial blunders early stage founders often make
– Insights into why these mistakes are common despite advice against them
02:18 👥 Mistakes in hiring practices
– Discussion about the pitfalls of hiring decisions in startups
– Examples of poor hiring decisions, like overpaying or misunderstanding the role of contractors
06:43 📈 Marketing and advertising misconceptions
– Analysis of marketing strategies and their often ineffective results
– The illusion of success through advertising and the reality of its limited impact
09:44 📰 The ineffectiveness of PR agencies for startups
– Debunking the perceived necessity of hiring PR agencies
– Personal anecdotes illustrating the inefficiency of PR agencies in the startup context
16:00 ⚖️ Legal expenses and managing lawyer relationships
– Discussion on the overexpenditure on legal services by startups
– Strategies for minimizing legal costs and optimizing legal services
20:24 🧑🏫 Misconceptions about the value of advisors
– Critique of overvaluing advisors and the cost of their equity
– Advice on managing advisor relationships effectively
24:51 🚀 Conclusion and summary
– Summary of discussed topics and final thoughts on startup expenditures
– Emphasis on the importance of being financially disciplined in the early stages of a startup.
Made with HARPA AI
love the energy of this video, thanks for the preparation and footages to keep us entertained while having a startup lesson.
What’s a Fang engineer?
you just saved me lots of money and equity 🙌
This is most of business development in crypto industry 😂😂
So raise series B doesn’t have product-market fit?