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RR

Russ Roberts

08/07/19

@ Y Combinator

The idea of opportunity cost is crucial for founders; it reminds them that choosing one path means forgoing another, which is essential in decision-making.

Video

YC

EconTalk Host Russ Roberts on Key Economic Concepts for Founders

@ Y Combinator

EconTalk Host Russ Roberts on Key Economic Concepts for Founders

08/07/19

Related Takeaways

SD

Shreyas Doshi

08/25/22

@ Lenny's Podcast

Opportunity cost is the value of the optimal option minus the value of the chosen option, and minimizing it leads to better prioritization.

QY

Qasar Younis

05/15/25

@ Uncapped with Jack Altman

It's essential for founders to recognize when they might be pursuing the wrong path, similar to climbers on a mountain who need to be aware of their direction.

SD

Shreyas Doshi

08/25/22

@ Lenny's Podcast

Instead of quantifying opportunity costs, teams should have the freedom to explore and pursue high-impact opportunities that minimize opportunity cost.

GT

Garry Tan

06/08/23

@ Y Combinator

It's crucial for founders to understand the 'idea maze'—the history of what has been tried before them—to avoid repeating past mistakes.

KH

Kevin Hale

07/26/19

@ Y Combinator

Evaluating startup ideas is crucial because many founders struggle with choosing which idea to pursue, often feeling stuck or lacking conviction about their choices.

JK

Justin Kan

05/17/19

@ a16z

The paradox of choice can be a huge problem for successful entrepreneurs, as there are many opportunities but limited focus.

EG

Elad Gil

10/18/18

@ Y Combinator

It's important for investors to challenge founders on their decisions, as this can lead to better outcomes and improvements in the startup's direction.

YC

Y Combinator Cast

07/22/23

@ Y Combinator

The experience of Founders is critical in determining the success of a startup, as they can adapt and pivot effectively based on their excitement and suitability for the idea.

MS

Michael Seibel

05/07/22

@ Y Combinator

Founders should be proactive in making tough decisions to steer their startups towards profitability, rather than relying on external pressures or advice.