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SA

Sam Altman

05/02/17

@ Y Combinator

Founders should consider setting up financial and legal structures early, including accounting systems and collecting legal documents, to avoid complications later on.

Video

YC

Later Stage Advice with Sam Altman (How to Start a Startup 2014: Lecture 20)

@ Y Combinator

Later Stage Advice with Sam Altman (How to Start a Startup 2014: Lecture 20)

05/02/17

Related Takeaways

SA

Sam Altman

05/02/17

@ Y Combinator

Founders should establish a personal organization system early on to keep track of tasks and follow-ups as the company scales.

KN

Kirsty Nathoo

04/28/17

@ Y Combinator

It's vital for founders to stay informed about the financial and legal aspects of their startup, as misunderstandings can lead to significant issues down the line.

AC

Allison Cooper

05/20/25

@ a16z

Founders should resolve any issues regarding ownership in writing early on, such as confirming if a friend does not want to be involved anymore.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

It's crucial for founders to form their startup as a separate legal entity to protect themselves from personal liability.

SA

Sam Altman

03/18/17

@ Y Combinator

When issues arise between co-founders, it's important to address them early rather than letting them fester, as this can prevent larger problems later.

HT

Harj Taggar

03/26/21

@ Y Combinator

Once you've decided on a co-founder, formalize your partnership through legal incorporation and a vesting agreement to ensure shared commitment.

CH

Claire Hughes Johnson

03/05/23

@ Lenny's Podcast

It's crucial to establish your company's operational structure and cultural foundations early on, as they are as important as finding product-market fit.

MS

Michael Seibel

07/08/22

@ Y Combinator

Founders should be cautious about spending money before achieving product-market fit; it's essential to be disciplined with finances in the early stages.

JL

Jessica Livingston

10/25/13

@ Y Combinator

Understanding the difficulties of startups early on can help founders better prepare for the challenges they will face as they encounter various obstacles.