More important than starting any startup, is getting to know a lot of potential co-founders.

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

If someone is choosing between joining McKinsey or your startup it's very unlikely they're going to work out at the startup.

Founders are usually very stingy with equity to employees and very generous with equity to investors. I think this is totally backwards.

You're saying no ninety-seven times out of a hundred, and most founders find they have to make a very conscious effort to do this.

You need conviction in your own beliefs, and the willingness to ignore others naysaying.

The natural state of a start-up is to die; most start-ups require multiple miracles in their early days to escape this fate.