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Introduction
How to decide whether to be a startup founder.
Resilience is the most important quality
Founder of Benchling (S12)
Startup resilience - Initial motivation isn't important
As a curious founder ask "What do I have to lose"?
Startup experience can improve your career opportunities
Getting ready to start a startup in the future
Best environment is working at a startup
When to take the leap and start a company?
Advice
Introduction
A product so good people tell friends
Easy to understand
Exponential growth in market
Real trends vs Fake trends
Evangelical founder
Ambitious vision
Hard startup vs Easy Startup
Confident and definite view of future (but flexible!)
Huge if it works
Team (non-obvious insights)
Optimists!
‘We’ll figure it out’
‘I’ve got it’
Action bias
The blessing or inexperience
Momentum
Competitive advantage
Sensible business model
Distribution strategy
Traits of best founders - Frugality, focus, obsession, love
Why startups win
One no vs One yes
Fast-changing markets
End
Intro
Advice on pivoting - Tarpit ideas
Tarpit definition
Most tarpit - Consumer ideas
Why do founders choose consumer ideas so much
Why is it hard doing consumer stuff
What's the bar for a startup
Google
Facebook
Timing - Web 2
Smartphone
What is a tarpit idea?
App to discover new things
Why they don't work
Recent target ideas
Web3 - Rebuilding the world
Theory of supply and demand
Demand side
Best pivots
Closing thoughts
Dalton’s background
The value of simple advice
Dalton’s advice: “Just don’t die”
Knowing when to stop
Deciding to pivot
Characteristics of a good pivot
Knowing when to pivot
Zip’s journey and finding a market
Why Dalton says to “Move towards the mountains and the desert”
Tar pit ideas
Understanding why investors say no
The importance of market size
Avoiding over-delegation and hiring senior people too early
Why startups fail
Effectively talking to customers
Examples of startups hustling to talk to customers
Patterns of successful startups
YC’s Request for Startups
Early days of Silicon Valley
Contrarian corner: growth hacking for early startups
Failure corner
Closing thoughts
Lightning round