sama

69 ms·

811.
by sama 13y ago
You should not join a startup as an early employee (with a correspondingly low salary) for an equity position that will not make you a post-tax millionaire in a 200MM exit.
812.
Startup advice(blog.samaltman.com)
334 points by sama 13y ago|105 comments
813.
Learn about Startups (with YC) at MIT this Thursday(i.imgur.com)
8 points by sama 14y ago|0 comments
814.
by sama 14y ago
It's much better to invest in a good company at a high price than a bad company at a low price.
815.
by sama 14y ago
The way to do it is to have a good reputation among founders, and the way to do that is to a) work hard to help the founders you invest in and b) don't screw them. This becomes very important when the founder you really want to invest in i
816.
Upside risk(blog.samaltman.com)
108 points by sama 14y ago|38 comments
817.
Software to avoid the software people(samaltman.posthaven.com)
83 points by sama 14y ago|15 comments
818.
by sama 14y ago
I laughed so hard when I got this email that I actually spit my coffee out.
819.
by sama 14y ago
It seems like we agree far, far more than we disagree. All I meant by a high burn is that we are net negative more than a trillion dollars per year. I believe we probably need more taxes and less spending to solve it (or just a lot of grow
820.
by sama 14y ago
I think you misunderstood my point. I am a big believe that the middle class, not the super-rich, are the job creators for this exact reason. And I'm not saying we should take money from them. All I'm saying is that everyone can get richer
821.
by sama 14y ago
I actually say that government is bad at picking individual companies to invest in. I do think infrastructure investments by the government are important; go try to do business in a country where the roads are terrible and the trains don't
822.
by sama 14y ago
Luck trumps everything else, by a huge margin. Choosing your parents well is the best decision you can make. For equal-luck people, I stand by the above point.
823.
by sama 14y ago
Good point, I could have chosen better anti-science examples--just picked two recent issues that I think are hurting innovation. I think the tech industry magnifies your inherited financial circumstances less than most other industries.
824.
by sama 14y ago
Capital allocation is critical, no question. I think venture capital is a great thing, but I think it's very different than HFT.
825.
by sama 14y ago
Posthaven is outstanding!
826.
Growth and Government(samaltman.posthaven.com)
88 points by sama 14y ago|122 comments
827.
by sama 14y ago
We have a lot of other features, and we're also a real bank.
828.
by sama 14y ago
We think we add a lot of new features, and have a very fair fee schedule. Check it out and let us know what you think!
829.
by sama 14y ago
ok, i think we can add the first one fairly easily. i'll look into the second. what's the reason for it? it goes as a debit transaction no matter what. just so no one can make a purchase without your PIN?
830.
by sama 14y ago
Good point; we can change it to make it clear you have to be a US resident to open an account but allow registration from other IPs.
831.
With GoBank, You Can Carry All Your Money In Your Pocket(news.cnet.com)
55 points by sama 14y ago|28 comments
832.
by sama 14y ago
One thing that struck me reading this is that many of us from the first batch are still in the YC orbit. Exec (JKan) and Hipmunk (Steve, Alexis, and Chris) went through YC, and Justin, Emmett, and I are part-time YC partners.
833.
Google Handwrite(techcrunch.com)
143 points by sama 14y ago|76 comments
834.
by sama 15y ago
Well, it's been a long week and this seems an appropriately crazy way to end it. It's off by several orders of magnitude. VentureBeat never called for the story but I'd be happy to speak about it if they'd like to.
835.
by sama 15y ago
Thank you. It's a bummer to be so excited for something I've worked hard for and then read haters hating all over the internet. This brightened up my day; hope we meet in person some day so I can properly say thanks.
836.
by sama 15y ago
that is a very long and hopefully interesting post i am still gathering my thoughts on.
837.
by sama 15y ago
yes when the dust settles.
838.
by sama 15y ago
obviously it's not going to go down as a massive success (although i hope what we do at green dot does!) but i feel pretty good about it. it's hard for me to put a number on it, though.
839.
by sama 15y ago
i think i can answer this but let me double check.
840.
by sama 15y ago
slow change i'd say, and lots of discussion about it although i was probably the strongest champion.

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