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How To Start a Technical Start-up

This piece is derived from Michael Seibel, Partner at Y Combinator talk in 2014 at Startup Istanbul.

How to start a technical start-up. First one, 2 to 4 cofounders, at least 50 percent engineering. They all have to have somewhat around a year’s worth of money in the bank but that doesn’t mean a year’s worth of money living in one bedroom apartment like in a high-rise. That means one year’s worth of  money eating  noodles and being very poor and everyone has to have quit their jobs. This is what you need to start a startup. Notice no idea is required! Second, idea. I always think it’s better to start brainstorming with your teammates. Typically one member of the team has the kernel of an idea to become the company but it’s always best before it gets to solidify to discuss it with your team so that everyone buys in its ownership. We tend to like companies who are trying to solve personal problems. Every investor says that the real thing is we like companies where the founders know what the hell the companies are doing and know what the problem is. If its not solving your problem it should be solving a problem that you’re very  aware of. And the other thing I tell founders is to try to focus on daily and weekly problems as opposed to monthly or yearly problems. It’s a lot easier to do something like Uber, the typical person in america has to figure out how to get somewhere three times a day. It’s harder to do a car sales website, the typical person America only buys a car once every seven years. Try to focus on daily and weekly problems it tends to be a lot more successful. https://www.youtube.com/watch?v=r9_fQwFbBUQ]]>

─ January 12, 2016