The point of an accelerator is to teach you about companies and business, not about technology.
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The point of an accelerator is to teach you about companies and business, not about technology.
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Being a public company is really terrible for most companies. I'd say Facebook and Google have done a pretty good job of standing up to the incredible quarterly pressure to hit numbers, but most companies - and I've observed a lot now - don't do a very good job of that.
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I have plenty of investments that I wish I'd never made. But the model is to lose money on a lot of investments and then make 1,000X or 10,000X on an investment.
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Traditional local advertising is not what retailers want. They want not just for you to see an ad - they want you to come into the store, to be a repeat customer and to spread the word.
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The hard part of running a business is that there are a hundred things that you could be doing, and only five of those actually matter, and only one of them matters more than all of the rest of them combined. So figuring out there is a critical path thing to focus on and ignoring everything else is really important.
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Making money is often more fun than spending it, though I personally have never regretted money I've spent on friends, new experiences, saving time, travel, and causes I believe in.
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One of the things we urge Y-Combinator companies to do is to have profitability in grasp. If you need to get profitable before your A round of money, you ought to be able to do that.
