You should be giving out a lot of equity to your employees.

In YC's case, the number one cause of early death for startups is cofounder blowups.

Once your product is working, switch from not caring about this to caring about this a little bit.

Be suspicious of any work that is not building product or getting customers.

Some day everyone will find out everyone else's comp, if it's all over the place, it will be a complete meltdown disaster

Everyone starting a startup for the first time is scared, and everyone feels like a bit of an imposter.

Another way of looking at this, is that the best companies are almost always mission oriented.