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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
Fantastic advice. I made some of these mistakes and avoided many.
Before I watch it, after losing my first strap with $160k burned, here's my own list: talent, assets to build the product before testing it on the market, workspace.
These 3 were the majority for us, way before giving salary for ourselves…
"Valuable advices coming from people for free" – Like this video lol 😀
Thanks guys!
We're going to be huge! Don't worry about waste!
I had a small high tech startup. I wanted to hire people with experience where I didn't have it. However, in the long run, we needed to invent new technology in order to make our product and these people I wanted to hire didn't know how to do it either. We had to just grind it out ourselves. Lack of money prevented us from making a big financial mistake.
I love how all of these stories involve people wanting to wear the hat of a CEO without actually building a product, as if people would do anything except build the product they pitched in the first place.
I think the flip side of hiring experts is the tendency for startups to hire inexperienced employees who are asked to do things that someone with experience would manage far more effectively. FANG employees, sure, they’re F’ANG expensive. Hiring junior designers, building out an entire marketing team with executives and not having a product, having zero product leadership, always operating in “Crunch mode” – that’s a recipe for chaos and wasteful spending.
Living this now at Convochat
Bro you're the Y combinator channel. They spend poorly because you'll just give them more money lmao
I'm new to your channel, are your companies software developers? Did your companies make a profit? I'm not talking about getting money from investors. I mean positive net operating cash flow?