Keep salaries low and equity high. Keep the organization as flat as you can.

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

Press releases are easier to write than code, and that is still easier than making a great product.

The most common post YC failure case for the companies we fund, is they're incredibly focussed during YC on their company... and after they start doing a lot of other things. They advise companies, they go to conferences, whatever.

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

If you can just learn to think about the market first, you will have a big leg up on most people starting startups.

The best source by far for hiring is people that you already know and people that other employees in the company already know.