This article is (yet another) attemp to romanticize and put to pedestal 'startup with a novel idea'. It is worth to mention that trying to trick/persuade/convince (choose freely) thousands (literaly) of people to go this path, benefits tremendously ycombinator - not the persuaded founders. Because for YC if only few are (hugely) successfull they win. Not so for the other thousands. The fact that few means 200 here, does not change that 'other' means around dozens of thousands.
Startups with 'right but not novel' are also GOOD. But they are muuuuch worse for YC. YC is not seeking all investments to end with modest returns. YC is seeking few, but with HUGE returns.
Pay attention also, that ycombinator itself is in the 'right, but not inventive' camp. It's like 'selling investing advices', while in the same time, author makes money on sth completly different (advices :). BAD ADVICES, to be exact.
p.s. I'm also tired on romanticizing airbnb in literally 3 paragraph (search for airbeds if you missed it). This is a pattern.
“Jump off a cliff because statistically, one of you may fly”.
So the investor will try to convince you to aim for 300% profit with 50% probability (compared to your original plan), because for the investor this simply means +50%. For you, it mostly means -50% probability, because the difference between having e.g. $10M or $30M is negligible compared to the difference between having $10M or nothing.
For example, i've been doing custom development for more than 20 years, made several million in the process, built over 130 project and i still don't have a slightest idea of how it's done - because every single of my client's projects failed - and i would be more than delighted to see how projects succeed first-hand even if the project wasn't mine.
But according to this essay, you followed a BAD path not innovative enough, and the hidden reason why it's bad is because it will never generate any sort of profit for YC.
Now if you had tried 3 or 4 startups in that same timespan, burned through all your life savings, did not make several millions in the process, and failed all you endeavours, you will be applauded by YC.
Why ? because the more people exist like you, the better it is for them.
I think not -- instead this seems quite un-conventional to me:
>> doing custom development for more than 20 years, made several million in the process
Yes, and something one could regret for a lifetime if one never tried, a dream that one never gave the chance
But of course it depends
Why so negative
It can be fun for the founders also if the startup fails, and not always anything to regret
And good for society in general with more innovation, eg YC's request for startups page: https://www.ycombinator.com/rfs/
Many things there are really good for this planet
One reason is - like PG says - the inclination for activities is more nature vs nurture than we like to think. We want the success to be caused by our choices and intelect. When it was largely chosen for us at birth.
Another aspect is post fact rationalization. Again like he says the unconscious mind decides first. Then the rational part tries to explain the choice but it often fails even to identify it, let alone pinpoint the reasons for it.
Third: teaching is mostly done through example and practicing toghether. Simple words are very ineffective at passing on experience.
And finally successful actions depend on context. For example what makes appropriate bussiness conduct varies from culture to culture, varies in time as the culture changes, is different even in the same culture depending on social class, etc. And these are just some points in the infinite variable group I called context.
All this makes such articles pretty much pointless as a recipe for success. But I'm not sure it is intended as that. There is value in the text, it's just not all true and all applicable to everybody. But then which text is?
To answer your last question I'd say my takeaway is "apply critical thinking to everything, this article included". As you and others point out, PG suffers from survivorship bias and likes to post-hoc rationalize how genius he was.
That definitely isn't something to learn from. One could analyze his career and maybe extract some valuable lessons from it. However I am not even sure PG is a good example at all; once some critical mass is accrued the rest of the success is pretty much inevitable.
So maybe the conclusion is: strive to achieve that critical mass with all your might? Could be.
Well said. However, most don't seem to realize. There are people who are perfectly willing to pontificate using literally any situation and relating it to their success. Not sure, if it is them or the rest of the plebs who seek their views and put them on a pedestal.
I feel the value of HN is greatly reduced once you are more familiar with the industry. But to an outsider this site is gold.
I mean, when you read about interviews and the problems people struggle with you get a sense of what it is. When I read those I thought "That doesn't seem hard, I can do that!", so I did.
I would like to say that I am young and I remember getting turned on to podcasts and reddit and good books when I was 15 or so, and being exposed to rational thought and discussion did a lot for my development I think.
Looking forward to what will come next
What is it you're doing as an entrepreneur you find so rewarding?
Let me contrast that with my career from 20 years ago. My Master's thesis was to calculate the flight performance of an aircraft that ended up having its maiden flight 5 years later. Essentially, an entirely mathematically-driven exercise where you apply a well-known methodology to calculate a deterministic problem. I got bored of that pretty quickly and went into flight testing, thinking that I could keep my mind active by being more hands-on in my work. I quickly learned that flight testing is all about reading regulations and checking the aircraft for compliance. Sure, there is some flying involved, but nowhere enough to keep you stimulated every day.
If you're reading those two paragraphs above, one will appeal to you more than the other. It doesn't mean that one career path is fundamentally better or worse, it's more about what does YOUR mind need to be stimulated? Do you prefer nondeterministic challenges or would you rather apply existing processes and be super precise and accurate? Do you prefer quick turnaround times, or would you be happier knowing that there is 5 years' worth of budget for you and your team of hundreds of people to complete a project? Whatever your conclusion, you're not wrong - it just has to be right for you. I think PG's essay helped explain this.
I recently watched some videos of people doing plane checklists; one had an error within two minutes, another had only one pilot doing the checklist while the other was away. I've also heard that humans skipping items or entire checklists is a general problem. Out of curiosity, would people with borderline or genuine OCD be a good fit for this? (Would it be practical to factor out the "checklist compliance" into a separate person? Seems like "remaining calm in an emergency, quick thinking, judgment and reflexes", and whatever else I might imagine are best for the pilot are at best orthogonal to "obsessive following of checklists".)
> What is it you're doing as an entrepreneur you find so rewarding?
The aerospace industry rewards making minor improvements to conventional airplanes rather than building something novel. Entrepreneurship rewards building something new and "radically different", which is what he was looking for in the first place.
If the GP commenter was working at, for example, SpaceX (a large aerospace company), I can 100% guarantee their work would be more meaningful and rewarding than at basically any startup I've ever encountered. It often seems like it's a unique conceit of the HN community to think that most of the tech startups floating around here are really doing much more than established companies.
On the other hand, SV is littered with names of people who single-handedly turned unprofitable late-stage tech companies into major successes. There's less regulation, stakes are lower, capital requirements are lower, less of the available landscape has been claimed, and the industry lends itself well to the power of computation. It's a little bit like trying to get rich in 18th century England vs 18th century USA. Would it be fair for US farmers to claim that they are doing "radically different" work compared to their English counterparts? Perhaps the work looked similar ("put food on the table"), but the rules and opportunities were vastly different and created different outcomes for individuals (as in - the smartest/most fit/hardest working people got more out of their work).
I guess what I'm trying to say is that if you want to actually change the world, you're unlikely to do actually do it at a tech startup. You're instead likely to talk a lot about it while the real world-changing things are happening elsewhere. But you'll probably be happier at the startup because you get more of that magic combination of autonomy, teamwork, and quickly tangible results. I just personally get frustrated that almost every startup and its employees act like they're working on the biggest problems in the world when they just... aren't.
Edit: forgot to mention. I know two people who left ULA for similar reasons to you and went to SpaceX. They loved working at SpaceX in comparison to ULA because the level of company ambition, speed, and impact was so ridiculously higher. However, one of them left SpaceX to go to a smaller aerospace startup and the other is now at Raytheon for the superior work-life balance. I'm not sure what the lesson is there...
Elon Musk comes from the start-up world and he is hoping to get to Mars himself, so he is in a hurry. I would say if you can get a job there, you should. If you have not already, check out reddit/r/spacex for lots of interesting stuff about the company and what they are doing. You might want to apply to work there if you are looking for a fast paced aerospace company.
There is also the startup called Boom that is working on building a supersonic passenger plane. They have just finished a smaller human-piloted supersonic test plane to prove out their ideas and hope to have the commercial airplane in service by 2025.
These companies are both run by people that started in software and then moved to aerospace without any other real prior experience in the field. Maybe you can have a similar route with founding a successful software company and then, with that success, found an aerospace one of your own. Good luck.
On the other hand, you are just a random guy from the internet, and offering advice with no data at all.
You might be broke and posting from your mom's basement, or from the top of a penthouse that you bought from building successful companies/startups.
We don't know, so your advice will be treated like: just another opinion, from a internet rando/keyboard warrior, and everyone has opinions.
I listen to PG as he has been more right then wrong, also he was very successful, multiple times, and is single handedly a major contributer to many products I use.
luck plays an important part, but not everyone realizes it or admits it.
It is far too simple to say that it is only luck. Persistence and good processes often lead to “luck”.
"Luck doesn't come to you, you go to it".
Which is to say you are right: if you keep showing up at stuff you will eventually get lucky. Luck can only happen to those who try and get lucky. Our real world resembles an MMORPG game -- you need a team for 98% of everything -- then I'd say both you and your parent poster are correct.
If you are successful several times against the odds it's probably not just mere coincidence anymore. You know, stats.
You also likely have funds to float you for longer.
You also likely have a network to leverage/exploit.
These external things all can stem from a lucky first go.
Then following your advise in less lucky situation is likely to fail.
Though, realistically, the chance should increase for the following attempts, because you can reuse some resources and contacts you gained with the first success. The first startup is like "I need to succeed within three years, or return to a regular job to pay my bills". But if it succeeds, the second startup is like "I can keep trying as long as I want to, no pressure".
This is soluble.
Said differently, who invented the first bootstraps and how did they do it without bootstraps?
He writes about his admiration for a successful pro tennis athlete, her intensity and dedication to her sport, and her strangely vacuous response to the question "How do you do it Tracy?" - which she answers with some vague platitudes. His point is: very successful people are so busy being successful, they're so deeply immersed in their craft, that they don't seem to even have the conscious introspective wherewithal to articulate what it is they're doing. Everything they know about their craft and their life is just so tacit to them. They've either never taken the time to really introspect, again because they're so caught up in just winning and getting things done, or they're just genuinely incapable of gleaning any wisdom from what it is that they do. So maybe it's not particularly useful to take advice from these people after all.
Now, this is probably the case for most such people, but there is a very small minority that do eventually cultivate the ability to articulate their internalized understanding and wisdom of their success to others. Maybe PG is one of them. Maybe not.
The first was mentioned by someone else in the thread whose response i can't find again due to opening this in a different device: why is it more valuable to hear advice from winners than, say, a failure from their mother's basement as you put it? In relation to the article's key point, that's very conventional (hence the irony) :)
The second thing I noticed was the assumption that a successful person knows their success or could explain it to anyone -- I haven't found this to be true and can personally attest that I can rarely explain my own to someone else. But there are definitely other reasons I can't, not least I'm just a poor explainer.
I found the article intriguing for a lot of reasons, not least of which is I always see a bit of myself in nerd content like it. I found myself thinking of all the conventions I absorb and recall when I realized I'd absorbed them. On the other hand, I'm renown in my family and among friends as completely unconventional and am generally The Weirdo. The resolution of that tension is intensely interesting to me. How I see all the conventions in myself, but near no one else seems to see it that way at all.
More to the point: given the option, I'll read the advice of a failure in a heartbeat and ponder it for days. I've never found advice from "pros" or success stories to be nearly as interesting. If you can, explain why opinions from winners is more interesting to you. Genuinely intrigued and curious to hear a different perspective.
But someone who almost succeeded, and then failed because of X... if you want to try the same thing, you probably want to know about X. You probably want to know about X regardless, because it may generalize to other situations.
You know, learn from mistakes of others.
> On the other hand, you are just a random guy from the internet, and offering advice with no data at all.
So do you listen to Sam Altman?
You're throwing half of the information away. You need to know not just what to do, but also what not to do. Losers can teach you about mistakes, injuries etc.
Political extremists [...] think themselves nonconformists, but actually they're niche conformists. Their opinions may be different from the average person's, but they are often more influenced by their peers' opinions than the average person's are.
The material of that bit may not be unusual, but its precision and density certainly are, and the fact that it coins a great name for the phenomenon (niche conformism) easily clears the bar for "unconventional idea/observation" in my book. Also, there's nothing formula-for-successy there. You might be missing the best reasons for reading these things?
Copying something well and then deluding yourself or others into thinking you've dug up novelty is in fact one of the best sales strategies there is.
Paul is also not accurate in one important way. Investors, by definition of how they make money, can't be too novel. They only can be ahead of the curve, because if you're so independent minded that the market doesn't catch up with what you believe you don't make any money. They're not independent-minded so much as they know what others want when they don't yet know it themselves. That's a different thing.
"When E.F. Hutton speaks, people listen" ;-)
Dying regrets are bullshit, because those people actually made conscious choices not to invest into such relationships on a daily basis and would do it again if they were in the same situation. I don't buy it.
1. Find a way to afford time to focus on what you care about. 2. Repeat step 1.
For a lot of people, step 1 is a steady job so they can do things they care about outside of work with family and friends. For others, it’s finding time to work on a project or startup you care about.
Ultimately, buying your own time back is the key to it all. What that key unlocks is up to you to decide.
The formulae are all driven by survivorship bias anyway.
"This article is self-contradictory. The article says good programmers write code in a way that doesn't cause surprises for the reader. But the only way for a program to be totally unsurprising is if it's an exact copy of another program which already exists!"
...
"The formulae are all driven by survivorship bias anyway."
In PG's case, he's had a chance to observe a lot of startups, both successes and failures.
But even aside from this, survivorship bias is mainly a problem in the presence of downside risk. Let's say we look at Olympic champions and find that they all trained really hard. You cry: "Survivorship bias! It could be that you will train really hard and not become an Olympic champion!" Yes. It could be. But since the risks of training hard are relatively low, you may as well go ahead and train hard if being an Olympic champion is a serious goal for you.
A nice mantra. Not dissimilar to the top of PG's to do list. There he also describes "the biggest regrets of the dying"..
"Don't ignore your dreams; don't work too much; say what you think; cultivate friendships; be happy."
PG isn't claiming to know "the" formula for success, or that anyone else knows it (I doubt there could be such a thing). He's identifying and exploring traits that, from his considerable experience, seem to correlate with business success in a very narrow field, startup companies.
Analogy (because I love analogies): “Seems like people over 7 feet tall make great basketball players.” This is great but it’s much more interesting that a guy named Muggsy Bogues made it to the NBA at 5 foot 3 inches.
I think your analogy fails in that hanging out with tall people can't make you taller. Exceptions to general rules are interesting, but don't have much predictive or explanatory power.
This is philosophy, should be treated as such.
I guess you’re not very independent-minded.
Why the need to trash it, (complete with fashionably dragging in gender, race, economic inequality and political ideology), because it doesn't resonate with you?
I got a lot out of it, and am glad he took the time to write it.
I actually find this advice (taken literally) to be the best advice for thinking for yourself. Teach others and you’ll find yourself opening up to new viewpoints on topics versus “learning” the same topic.
It seems worth noting that although this essay doesn't have a lot of the way in evidence/data, it is likely informed by PG's extensive experience as a startup investor. I would guess that YC has a proprietary dataset of the startups they've funded that they use to test hypotheses etc.
This essay and other's like it, without evidence or data, implies that some of us know the formula for success. I get it, the things that change convention are unconventional at first. This is the definition of unconventional. I agree with the general vector of his essay but this is just boring to me.
Here is my formula for success (in case anyone cares): Enjoy life, try to make the world better, be a good person, go towards your passions (whether for hobby or career) and cultivate relationships because that seems to be the thing people regret most when they die.
Now, let's move on to to the actual unconventional ideas and observations.