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sam altman: “honestly, i feel so bad about the advice i gave while running YC i’ve been thinking about deleting my entire blog”↗

·@morqon·Jun 11, 2023·essay·sam-altman·startup-advice·yc

How to turn $1MM into a lot more: Buy a $2MM self storage facility. You’ll need $600k cash. Use $60k of your own cash (10% co-invest) and raise the $540k from limited partners. You own 10% of the deal but 1/2 the upside (the carry). Do this 10 times.↗

I’ve learned a lot about giving advice over the past 5 years at YC (still more to learn). When I started I had a very formulaic / tactical view of how startups succeed. Over time and after seeing over 1000 startups go through YC that has changed.↗

·@mwseibel·Sep 18, 2019·essay·entrepreneurship·startup-advice·yc