You want an idea that turns into a monopoly. But you can't get a monopoly, in a big market right away; too much competition for that.

At the beginning, you should only hire when you have a desperate need to.

If you can just learn to think about the market first, you will have a big leg up on most people starting startups.

One of the pieces of advice that we give at YC is: try to work together on a project rather than just doing an interview.

The idea should come first, the startup should come second.

There are exceptions of course, but most companies start with a great idea - not a pivot.

One of the biggest advantages that start ups have is execution speed and you have to have this relentless operating rhythm.