Today another founder from a year ago showed up. I asked him if he had any advice for the current batch. Want to guess what it was? "Be really lean."
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I was helping some startups in the current YC batch get ready for Demo Day. A founder from a year ago dropped by. I asked if he had any advice for them. "Don't spent your money," he said. Will they listen? Probably not any more than they usually do. But we can hope.
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@fujisaha@teawaterwire You can’t say you didn’t know
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Hi Paul, what do you mean by "Don't spent your money" ? Use investor money? or Don't spend money until product market fit.
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until PMF yes Then spend (wisely anyway :) )
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Demo day = pro sport signing day. Capital allocation stems from belief in future prospects. Be judicious, double down on what got you here, recognize market constraints.
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*capital market constraints
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what exactly is there to spend it on? Unless you're not talking about software businesses, it's all salaries of software engineers. So this *effectively* means "don't hire". Just say that.
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Did they mean "your *own* money"?
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What does he mean? Don't spend your own money, spend someone else's?
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