We've seen a lot of data at YC now, and the most successful companies and the ones where the investors do the best... end up giving a lot of stock out to employees- year after year after year.

I care much more about the growth rate of the market than it's current size and I also care if there's any reason it's going to top out.

You can basically change everything in a startup but the market.

Before 20 or 25 employees, most companies are structured with everyone reporting to the founder. It's totally flat.

If it takes more than a sentence to explain what you are doing, it's almost always a sign that what you are doing is too complicated.

The track record for founders that don't already know each other is really bad.

In the early days of a startup, people's compensation is whatever you negotiate with a founder and it's all over the place.