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Lenny's Podcast Cast

06/27/24

@ Lenny's Podcast

Much of what's novel about Y Combinator is due to Jessica Livingston, who played a crucial role in its early success.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I was often left out of news articles about Y Combinator, which can be frustrating, but people within YC know my contributions.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

In the early days of YC, I observed social cues during interviews, such as how well co-founders got along and their level of commitment.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I was fascinated by founder psychology and the dynamics of their relationships, which influenced my evaluations during interviews.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I was known to say I didn't want to fund founders I couldn't see myself having dinner with every week, as personal compatibility is important.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I look for signs of commitment from founders, such as whether they are ready to quit their jobs to focus on their startup.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I often flagged unusual equity allocations in applications, as they can indicate potential issues in founder relationships.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

Being defensive during interviews is a red flag for founders; the best founders engage openly and are willing to learn from feedback.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I remember a founder who interrupted their co-founder during an interview, which raised concerns about their teamwork and communication.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

The best founders are open-minded and willing to adjust their ideas based on feedback from others.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I believe that a founder's ability to listen and engage in spirited debates is essential for their success.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I often look for founders who are scrappy and demonstrate hustle, as this is crucial for startup success.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

During the Airbnb interview, I was impressed by the founders' energy and their willingness to go to great lengths to make their company succeed.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I once had to convince my co-founders to fund a startup because I believed in the founders' passion and scrappiness, even if the idea wasn't great at first. In early-stage evaluations, I look for founders who demonstrate hustle and a strong passion for their ideas, as the idea often evolves over time.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

Charisma can be beneficial for founders, but it’s essential that it’s backed by substance; many charismatic individuals lack genuine commitment to their startup.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

Having deep domain expertise is crucial for founders, as it often leads to fewer pivots and a better understanding of the problems they are solving.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

Earnestness is vital for startup founders; they must genuinely care about the problems they are solving and the users they serve to succeed.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

During interviews, I look for humility in founders; if they don’t know an answer, they should be honest about it rather than trying to impress with smoke and mirrors.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

Commitment is essential; founders need to be prepared to leave their jobs and fully dedicate themselves to their startup to succeed.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

Co-founders must get along well; many startups fail due to disputes between co-founders, so I look for signs of a strong working relationship during interviews.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I seek founders who are relentlessly resourceful, as this trait is crucial for overcoming challenges in the startup journey.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

In early-stage investing, the ability to evaluate founders effectively is a significant advantage, and this skill has been crucial to Y Combinator's success.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

To build social radar skills, pay attention to subtle cues during founder evaluations, such as their ability to articulate their product and their defensiveness.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I started my podcast, The Social Radars, to reconnect with the startup community and share stories of triumph and failure from founders. I wanted to create informal conversations with startup founders so people could understand the real stories behind the startups, rather than just scripted media messages.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I hope that listeners enjoy the unstructured conversations on my podcast, as they often lead to genuine and fascinating insights.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

Every female founder should read Barbara Streisand's biography, as it highlights the challenges women face in a male-dominated industry and serves as an inspiration.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I believe that treating people the way I want to be treated is a fundamental life lesson that is powerful and important.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I admire my husband Paul for his courage to speak his mind and not shy away from controversy, which is something I strive to learn from.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

The early days of Y Combinator were magical and pure; we focused on helping a small group of founders without distractions or negative scrutiny from the press.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I learned that sometimes ignorance can lead to unique strengths, as our inexperience in angel investing led to the successful batch funding model at Y Combinator.

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Jessica Livingston

06/27/24

@ Lenny's Podcast

I encourage listeners to spread the word about my podcast, as I don't do any marketing beyond posting on Twitter.

The social radar: Y Combinator’s secret weapon | Jessica Livingston (co-founder of YC, author)

Takeaways