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

In the beginning of a company, there is no management and this actually works really well.

The single word that matters most I think to keep the company productive as it grows is alignment.

You want to continue to be run by great products, not process for it's own sake.

Great execution is at least 10 times more important and a 100 times harder than a good idea.

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.

Most startups are not nearly focussed enough. They work hard...maybe, but they don't work hard on the right things.