Most founders have not managed people before, and they certainly haven't managed managers.

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

It's difficult to get large groups of people, to the extreme levels of focus and productivity that you need, for a startup to be successful.

You also really want to take the time to think about how the market is going to evolve.You need a market that's going to be big in 10 years.

If someone is getting every decision wrong, that's when you need to act, and at that point it'll be painfully aware to everyone.

Even though plans themselves are worthless, the exercise of planning is very valuable and totally missing in most startups today.

A single mediocre hire in the first five will often in fact kill a startup.