Employees will only add more value over time.

Really dig into projects people have worked on and call references; that is another thing that first time founders like to skip.

Investors will sort of like write the check and then, despite a lot of promises, don't usually do that much; sometimes they do.

Later, you should learn to hire fast and scale up the company, but in the early days the goal should be not to hire. Not to hire.

In addition to relentlessly resourceful, you want a tough and a calm cofounder.

Most things are not as risky as they seem.

Startups are very hard no matter what you do; you may as well go after a big opportunity.