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Y Combinator Head Michael Seibel: The ONE Mistake Killing Startups #yc #twitch
Witness the media clip “Y Combinator Head Michael Seibel: The ONE Mistake Killing Startups #yc #twitch” including 100’s of other similar video clips starring the famed hilarious characters of the McKenzie brothers.
Bob and Doug McKenzie in Y Combinator Head Michael Seibel: The ONE Mistake Killing Startups #yc #twitch
In the video Y Combinator Head Michael Seibel: The ONE Mistake Killing Startups #yc #twitch, Bob and Doug McKenzie are two of hilarious Canadian actors who can been seen in “Great White North”, a show which was aired on second city television for the show’s third season when it got sold to CBC Television in the 80’s. Bob’s partThe character Bob is brought to life by Rick Moranis and Doug McKenzie is created by comic Dave Thomas. Although developed originally as an idea to both fulfill and laugh at annoying Canadian content policies, the two turned into a pop culture hit in both Canada and America. The characters went on to become the focus of a an amazing comedy album, The Great White North, in 1981.
Michael Seibel is a group partner at Y Combinator and the managing director of YC’s startup accelerator. #ycombinator #yc #startups
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Michael evaluates 1000s of startups a year and sees hundreds go through YC, which means he has better data on startup success than just about anyone in tech. He’s is also the cofounder of Twitch.
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00:00 Michael Seibel Interview – Y Combinator, Twitch Founder
00:33 What makes YC startups successful
07:52 Dealing with failure
12:12 YC vs venture capital
25:57 MVPs + product market fit
35:01 How to pivot a business
41:22 Equity splits
48:38 Is YC still for outsiders?
53:36 A conspiracy theory that Michael believes
55:46 Michael’s take for common bad advice
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It is so easy to draw lines between Michael's business advice and his real world experience. Thank you guys, it was really insightful and fun talk. I particularly want to reflect on the part where Michael talks about 'broken people' and the need to expand the envelope in face of negative odds. I fancy the idea that some people just hold very high standards for themselves and have relentless hunger to better understand the world we live in.
MVPs + Product-Market Fit
The journey isn't always linear. Advice aren't like the laws of physics. Therefore, it's recommended to launch quickly, fail fast, learn, and iterate.
What does DaaS mean?
What Start Up?
So he says that building the solution is easy and it's all about understanding user needs. Then I don't know why engineers from big tech companies seem to be geeting so much easier into YC or receive funding (maybe wrong impression?). They might be better at building but have probably no edge identifying customer needs.
I will never do a start up but I enjoy watching these videos for some reason
Couldn't you disrupt Doordash simply by having a local delivery service? Then maybe be bought out by doordash because they "fear" your competition or want to acquire your customers.
"I often feel as though the misunderstanding happens in the problem space. Everyone we fund [at YC] can build software, and so building good solutions is way more… that skill is way more distributed among the YC population. Understanding customer problems? That's actually really hard. Most people don't even want to engage with that intellectually." — Michael
excellent insights by Michael Seibel, a bit dissappointed by the questions and coordination by Hoffmann…
An accelerator or venture fund is like a record label. The software developers are the band. Musicians create great bands and a great musical vision that is amplified by the label. You gotta get a great band of software developers and a great software vision. If the VC has to do it for you then they don't need you.
Brilliant interview with only 15k views. I must have found the right place.
Interesting Insight!
I can answer question in 21:39 To build an accelerator with an online Ai analysis where a pitch deck is analysed through an app and sent automatically to the right person in the right VC form will be an evolution of YC
What does a 51:49% co-founder split change when it comes to decision making? Equity ownership doesn't change decision making power if both are on the board.
bad thumbnail • great content • dint click when I first saw
bad packaging • great product • won't pick from shelf
what does he mean about universities getting 10% when the students die? I'm not american, that one went over my head 😀
Bruh what is Michaels skin care routine?! Buddy is GLOWING !
This guy is a gem
He and Dalton have really helped me to the extent that I have some more common sense and am less deluded. It's lifelong learning.
Excellent share Auren. Should be required watching for pre-YC companies and other startup founders. Michael's insights, expertise and wisdom with startups, founders and funding challenges. Bravo!
Michael is so pleasant to listen to!
Michael is a LEGEND! I’m preparing a video about his path
5:15 "Spec-list" — the list of things you want to build for that interval of time [usually per week or whatever]
Good term! I have a notebook = blank paged nice paper art sketchbook that I use to draw UI and make lots of checkboxes. It is a spec-list. A weird, artsy one that I have honed for my purposes and workflow, but essentially the same thing! 😀