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MS

Michael Seibel

07/08/22

@ Y Combinator

Successful startups rarely attribute their success to paid advisors; instead, valuable advice often comes from informal relationships without equity exchange.

Video

YC

Top Ways Startups Waste Money

@ Y Combinator

07/08/22

Related Takeaways

MS

Michael Seibel

07/08/22

@ Y Combinator

Many founders mistakenly believe they need to give away equity to advisors, but often, they can negotiate for advisors to invest instead, aligning their interests with the startup's success.

YC

Y Combinator Cast

08/07/24

@ Y Combinator

When seeking startup advice, it's crucial to have supportive people in your life, like friends or family, but they may not provide the specific startup guidance you need.

DC

Dalton Caldwell

08/07/24

@ Y Combinator

Founders who know very little about startup advice often avoid developing bad habits or strange ideas about how to run a startup, which can be beneficial.

YC

Y Combinator Cast

08/07/24

@ Y Combinator

Many local startup advisors may be tied to large companies, which can lead to misaligned motivations and ineffective guidance for startups.

YC

Y Combinator Cast

04/18/24

@ Y Combinator

Working closely with founders allows for tailored advice that can differ from general guidance, enhancing the startup's chances of success.

YC

Y Combinator Cast

02/03/22

@ Y Combinator

Asking friends for advice is often less effective than conducting your own research, especially for young founders who may share similar limited experiences.

YC

Y Combinator Cast

02/08/25

@ Y Combinator

Using family connections can lead to valuable startup ideas, as many successful startups have emerged from insights gained through personal relationships and access to underserved markets.

YC

Y Combinator Cast

04/01/22

@ Y Combinator

The most effective ways to de-risk a startup are talking to customers and building a product, rather than relying on advisory boards or mentorship.

MS

Michael Seibel

08/07/24

@ Y Combinator

Getting startup advice from individuals who have only worked at large companies or who have never been involved in a startup can be misleading and unhelpful.