Founders need to figure out what the message of the company is going to be.

To get the very best people- they have a lot of great options, and so it can easily take a year to recruit someone.

Investors will sort of like write the check and then, despite a lot of promises, don't usually do that much; sometimes they do.

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

AirBnB happened because Brian Chesky couldn't pay his rent, but did have some space.

For most of the early hires you make in a startup, experience doesn't matter very much, and you should go for aptitude.

Two other things that we hear again and again from our founders, they wish they had done earlier, and that is... simply writing down how you do things and why you do things.