I believe in fighting with investors to reduce the amount of equity they get and then being as generous as you possibly can with employees.

To get the very best people- they have a lot of great options, and so it can easily take a year to recruit someone.

You should think about for the next 10 years, you're going to be giving out 3-5% of the company every year.

Two other things that we hear again and again from our founders, they wish they had done earlier, and that is... simply writing down how you do things and why you do things.

The way you get deals done and the way you get good terms, is to have a competitive situation.

In YC experience, 2 or 3 co-founders seems to be about perfect.

Founders need to figure out what the message of the company is going to be.