You have to save the vision speeches for when the company is winning. When you're not winning, you just have to get momentum back.

For most software startups, this translates to keep growing. For hardware startups, it translates to don't let your ship date slip.

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

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.

By the way, that's my number one piece of advice if you're going to join a startup: pick a rocket ship.

In general, it's best if you're building something that you yourself need.

... how much time you should be spending on hiring? The answer is 0 or 25 percent.