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

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

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

Remember that the idea will expand, and become more ambitious as you go.

It's really easy to get PR with no results & it actually feels like you're really actually cool, but in a year you'll still have nothing.

Here's a good rule of thumb: don't worry about a competitor at all, until they're actually beating you with a real shipped product.

The role of the board is advice and consent. If the CEO does not lay out a clear strategy and tries to get the board to set one, it will usually end in disaster.