YC
How Should Business Schools Prepare Students for Startups? – Jeff Bussgang and Michael Seibel
@ Y Combinator
06/22/17
Takeaways
MS
Michael Seibel
06/22/17
@ Y Combinator
Business schools are doing a poor job of preparing students to start tech companies, as observed by Michael Seibel.
JB
Jeff Bussgang
06/22/17
@ Y Combinator
As a professor at Harvard Business School, I find it concerning that many students applying to Y Combinator lack basic knowledge of core startup principles.
JB
Jeff Bussgang
06/22/17
@ Y Combinator
Business schools tend to be expensive and often fail to teach essential startup rules that students need to know.
MS
Michael Seibel
06/22/17
@ Y Combinator
There are three main issues that hinder MBA students' success in startups: a lack of a technical co-founder, insufficient commitment from the team, and inadequate traction on their projects.
MS
Michael Seibel
06/22/17
@ Y Combinator
Many MBA programs are created in silos, making it difficult for students to access technical talent and collaborate with engineers.
MS
Michael Seibel
06/22/17
@ Y Combinator
Harvard Business School is working to integrate technical skills into its curriculum, but there is still a need for more technical proficiency among MBA students.
JB
Jeff Bussgang
06/22/17
@ Y Combinator
It's crucial for business schools to have practitioners involved in teaching, as outdated models can lead to a disconnect between theory and real-world application.
MS
Michael Seibel
06/22/17
@ Y Combinator
There is a need for business schools to actively recruit students with engineering backgrounds to create a more balanced and effective learning environment.
JB
Jeff Bussgang
06/22/17
@ Y Combinator
The integration of technical skills into business education is essential, as it prepares students to better understand and manage tech-driven companies.
MS
Michael Seibel
06/22/17
@ Y Combinator
To improve startup success, business schools should focus on creating environments that foster cross-pollination between technical and business students.
MS
Michael Seibel
06/22/17
@ Y Combinator
Building a network of angel investors and software developers is crucial for entrepreneurs, as demonstrated by a founder in Kentucky who successfully launched his AI company through hustle and connectivity.
MS
Michael Seibel
06/22/17
@ Y Combinator
Many entrepreneurs struggle to transition from a research mindset to building a Minimum Viable Product (MVP) because they lack the technical skills to create it.
MS
Michael Seibel
06/22/17
@ Y Combinator
It's frustrating to see founders overcompensate for not having a technical co-founder by relying on external developers, as this can hinder their chances of success.
MS
Michael Seibel
06/22/17
@ Y Combinator
Students should be aware that not all entrepreneurship programs are designed to support their success, as some may accept teams that don't meet foundational requirements.
MS
Michael Seibel
06/22/17
@ Y Combinator
Universities should focus on providing a pedagogical experience rather than solely aiming to create billion-dollar startups, which can lead to a mismatch of goals for students.
MS
Michael Seibel
06/22/17
@ Y Combinator
If you're considering business school to become an entrepreneur, gaining experience at an early-stage startup in a tech hub may provide more valuable connections and skills than an MBA program.
MS
Michael Seibel
06/22/17
@ Y Combinator
The perception that an MBA is a valuable credential in the startup world is misleading; many successful entrepreneurs do not have MBAs, and the real learning often happens in the trenches of startups.
MS
Michael Seibel
06/22/17
@ Y Combinator
Reading foundational texts and blogs by successful entrepreneurs is essential for students who want to succeed in startups, as these resources provide critical insights not always covered in class.
MS
Michael Seibel
06/22/17
@ Y Combinator
Investors look for transformative ideas and significant market opportunities; simply having a neat business idea is not enough to attract venture capital.