YC
How to Create Luck - Dalton Caldwell, Y Combinator Partner
@ Y Combinator
05/10/19
Takeaways
DC
Dalton Caldwell
05/10/19
@ Y Combinator
To create luck, move faster than others and increase your opportunities for lucky events to occur.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
If everyone is running at five miles an hour, running at fifteen miles an hour allows you to outpace others and create more opportunities.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
Founders who move the fastest tend to create the most luck by maximizing their opportunities.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
Breck's, a credit card for startups, pivoted from a VR headset idea to a successful business by quickly realizing their initial idea wasn't viable and iterating through multiple concepts.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
The founders of Breck's changed their idea within weeks of funding, demonstrating the importance of speed in finding a successful concept.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
Companies like Retool and Magic also exemplify how quickly changing ideas and building prototypes can lead to discovering successful products.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
To create luck as a pre-company, connect with and learn from as many interesting people as possible, and you need to do things that make you uncomfortable and actively engage with others instead of waiting for recognition.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
Founders who create luck are proactive; they interact with people, share their ideas, and build things instead of waiting for opportunities to come to them.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
Mark Zuckerberg exemplified this by constantly creating prototypes and sharing them with users, which contributed to the genesis of Facebook.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
You can significantly increase your chances of getting lucky by making things, learning quickly, and sharing your creations with others instead of keeping them to yourself.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
When deciding whether to double down on your strengths or venture into unfamiliar territory, consider your existing knowledge and skills; attempting to cure cancer without any background in science is a tall order.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
Sometimes, outsiders can see potential in areas where experts have given up, so if you have the technical skills to build a product, it's okay to take risks even if you're outside your comfort zone.
DC
Dalton Caldwell
05/10/19
@ Y Combinator
To create luck in a Series A startup or later, maintain a culture of fast-moving experimentation and hire people who can iterate quickly and effectively.