Chapters (Powered by ChapterMe) - 00:00 - Introduction 00:11 - A product so good people tell friends 00:53 - Easy to understand 01:13 - Exponential growth in market 02:00 - Real trends vs Fake trends 03:30 - Evangelical founder 04:04 - Ambitious vision 04:22 - Hard startup vs Easy Startup 05:34 - Confident and definite view of future (but flexible!) 06:10 - Huge if it works 06:30 - Team (non-obvious insights) 07:20 - - Optimists! 07:47 - - Idea generators 08:16 - - ‘We’ll figure it out’ 08:50 - - ‘I’ve got it’ 09:08 - - Action bias 09:34 - - The blessing or inexperience 10:16 - Momentum 11:04 - Competitive advantage 11:46 - Sensible business model 12:04 - Distribution strategy 12:20 - Traits of best founders - Frugality, focus, obsession, love 12:46 - Why startups win 13:13 - - One no vs One yes 14:06 - - Fast-changing markets 14:43 - - Platform shifts 15:46 - End

It is so crazy that basically every point he is talking about applies to himself in OpenAI now. Congrats Mr. Altman :)

This lecture was like a crux of years of hard work. Incredible!

His entire speech is so dense, like he intuitivly think and speak this efficient. Probably for a lot programming and time being a CEO

Now that he is at OpenAI, this visionary speech is proving prophetic. He has delivered everything he mentioned in this speech.

Wow. This guyyyy spoke everything into existence. I know there has been some drama at OpenAI lately, but the entire staff rallied around him. It tells me he is doing something right at the company.

Sam Altman honestly shared cores to succeed in competitive environment as well as personal adviosry. Steve Jobs also had such courage & expressed openly as mentor for all.

Wow. This one video is better than 50 books. (And a lot easier to digest.)

I'm critical about almost everyone. But sam altman is one of the few you just listen and learn. Sam is impressive. Such good knowledge comes from him.

I have come to realize this man has so much wisdom and strength. He’s given me a lot to digest about the future.

A real value bomb. Lucidly explained and will surely act like wake up call for the hard days. Thanks YC and Thanks Sam.

I had to master frugality before my latest startup and now I got it! I was so comfortable until I pushed myself into an uncomfortable space (read: broke!!!) refusing work from anyone other than for my business, I learnt the value of a dollar, I know what things cost, and I think of how can I solve problems without spending a dime...and now I know I can win. If you are comfortable and starting a startup (have savings, rent paid for 3 months, etc.) you must figure out how to sacrifice that comfort for hunger because without that hunger you won't be BIG.

Best video I’ve seen so far on the mindset needed for a successful startup.

Thank you Sam Altman in particular, and YCombinator in general for the effort you are putting into this MOOC. THIS IS GOLD ♥ ♥

This is really great stuff! Had to keep pausing to digest, then rewind to re-ingest. Listening all over again this weekend to take notes. Thanks so much for sharing such rich knowledge with the world

Sam's been lifting some weights!

Wow. This is extremely high quality, so many new and good ideas!

A true visionary. The principles he mentions are timeless

One of the best startup talks ever.

Great punch line: Build what is cool; remarkable and easy to describe!

Great summary and love the mental models Sam used here. Valuable themes to think about for any content creator or startup founder.

Great, thank you. Wistful to put everything on test the next winter. Congratulations for the hard work Sam (bigger and better).

I had to restart this video and start taking notes! I didn’t plan to stumble across absolute gold

Wow, I'm so glad I came across this, so helpful and well articulated!

Thank you, Sam. Very helpful. A gut check to ensure we are aligned with asymmetric risk versus reward. I’ve got it!

My favourite UKposts channel and the best UKposts channel of all all the time thank you Sam alt man

One of the most important topics ,, thank you :)

every year i came here and watch this. Thanks for this great lecture.

This is one of the most useful video available on UKposts for startups ❤

Most impactful startup video I've seen!

What a stunning speech by Sam Altman on Startups, He summed it up so well! 👏👏 No wonder Open AI has achieved enormous success in such a short period of time under his incredible leadership and of course the people/teams.

This is incredible. Thank you so much!

So not only should one have a great product, but foresight is also important

This is pure gold. Thanks a lot!

This was so encouraging and also inspiring. Thank you Sam!

loads of stuff are coming from Zero to One book by Peter Thiel.. which is AMAZING!! keep it up

The beginning minute

So much knowledge destilled to a just one nice cup of tea 🍵. Blows my mind !

Dude got fired and hired again and youtube decides to show this video to me out of no where.

Best structured checklists for startups 👍👍

This is very insightful. Some of the points you present are those things we tend to believe to be true until we face them. For instance; what makes a great team.

Sam always present the best idea. thank you

Great work. Amazing to see all the hard work gone into OpenAI.

so valuable! great thanks for sharing the talk!

Inspiring and informational, thank you very much Sam! :))

You are a tech guy and a good trainer.. You delivered your talk in the first sentence. Im a trainer too and I do the same

And 4 years after, OpenAI's success is enough result to prove why these ideas work!

Aged like a fine wine. Came back after ChatGPT went live!

Great to see him in OpenAI! One of the best lecture in YC history.

I love this! Thank you for making the obvious so clear. (Not a dig.) I’m genuinely smacking my forehead and saying of course! I have been over analyzing like a jackass.

Incredible insights packed into such a concise presentation. All the more impressive in light of recent events with OpenAI. Colour me inspired.

He is really a straightforward person just like Chatgpt

Oh yes, we can learn a lot from that. Thank you very much! 😊

This never gets old

Thanks a lot for sharing your thoughts!

Thank you for sharing these info.

Brilliant talk. Loved it.

Great presentation and useful insights!

Watching this after the drama of the last weekend is quite funny.

Sam altman be hitting the gym!

Simple and brilliant

The thing he said about momentum is very true, I personally am finding it hard to put momentum back...

Everyone wil be watching Altman's videos now🎉

It such a coincidence that I am seeing this video for the first time on the news of Sam’s ousting from OpenAI.

Very detailed insider video. Thanks

Thank you Sam. I've got it!

4 years after altman is now a hero congrats of his revolutionary idea chatgpt

Love the speaker jumping straight into it

Great talk. Thank you for sharing.

Thanks Sam for this video.

This will have an influx of new people in no time

Thank you. This is amazing.

Simple and to the point

Loved the fact that there was no filler material. Everything was conscience and to the point. I have one disagreement. The first point said, make a product that people will talk to about their friends. How about startups/products that cater to businesses?

It's funny to see this vid recommended now, lol

Essential Handbook for beginners ❤

Outstanding presentation outstanding

Thanks Sam, this is gold!

10:19 This is why I think the Rust language is actually more challenging for startups, because it allows for less "rule bending" to maybe squeeze out some short term velocity. Rust may give you a better product quicker, but you will have to pull through longer valleys where your product doesn't show progress, because you are deep in the code working on the next milestone.

Thank you Sam!

Boom! Sammy's been hitting the gym

Thanks Sam ❤️

This guy looks smart. Hope he starts a successful startup someday.

Bravo, Mr. Altman😊

Love this!! 💯

This man looks great. He has the ability to fight with tech giants.

Easy to say when you are in the right place at the right time

I bet this guy will be really successful one day.

Sensible and highly distilled.

Very helpful! Thank you!

THIS IS GOLD, especially watching in 2022 Dec after ChatGPT was out!

Sam, can you show us a diagram of common start up exit scenarios? Not only would it be highly intellectually rewarding to see, it'd be interesting to see if there's a formula to acquire large amounts of money (aka get rich 😆)

its very surprising how video like this only get 1.2million view its like people don't even try to learn

Great talk!

I need time to take the decisions after this point

Great presentation style

Really insightful!

A great video by the heavy lifter Sam. Though I do not write too many comments on videos, I couldn't resist myself from commenting on this to elaborate on some points. Here is my summarized model. An Innovative startup succeeds. Innovation=Invention X Commercialization --(1) Invention=Past Research X Maker's Ability --(2) Commercialization=( (Pain+Need)X(Frequency of need of use))XTeam's Sales Ability --(3) Team's Sale's Ability=[Listening Ability+Learning (Books/Articles) ability+ Number of Sales deckXStartup Months/20+ Helping Nature] --(4) Invention Score=(5-Number of years since Invention/20+ (Total papers)/10000) --(5) Commercialization=(basic needX10 + Mandatory needX8+Professional NeedX6+ Ambition NeedX4+ Occasional NeedX2+No NeedX.5)X(Number of life years of need) ---(6) Basic need:- Food, water, air, hygiene Mandatory Need:- Shelter, Health, Electricity, Money, clothing, phone, internet, transport, metals, insurance Ambition need: House, Car, Fashion, Jewelry, Art objects, collections, Professional Need: Office tools, Education(duh!)/Skills, productivity tools, email, data security, analytics Occasional need: Shopping, Holiday, Recreation, Entertainment, travel, hotel No Need: News, Television, Fridge talking to TV!, To add to "Real v/s Fake Trend" point could cover is the maturity time of a technology and clear distinction between the time of invention to innovation. From my reading and research, I have found out that most ideas takes about 20 years minimum and 42 years on average from invention to commercializable innovation. Take the case of Wellness industry, first HRV paper was published in 1961, and wellness has started booming just now. Doughman IRIS recognition in the year 1980, Indian Aadhar adopted it in 2010. Same with Ball pens, Commercial flights, renewable energy, face recognition, to emails, voice recognition. One way I look into any problem is if there has been strong research for decades. It means that people have been trying to solve this problem from ages and still there is a gap which needs to be filled. Often in Industry "first mover" do not succeed, "fast mover" succeeds(sometimes "first chasers" also succeeds!). This comment of mine will help you to understand why "timing" is considered to be one of the most important startup success/failure pointers. Secondly "product that people talk about to their friends", most of the time startup succeeds because the pain they try to solve is personal pain to either the founder or his close acquaintance. I dedicated half of my life solving a healthcare problem because I lost both my parents due to healthcare inefficiencies. Startup is so hard, the whole world is waiting to tell you that you will fail and is waiting to say "didn't I say you so?", that you atleast want to be solving your problem. In that way you will know "it is of use to me". YC says "make something that people wants", I think the starting point to it is "make something that you desperately want". (just personal opinion though!). Add frequency of the need to it. For instance if you want to make it easy for the car buyers, people mostly buy a car once in every 7 years. Is it worth to dedicate 10 years of your life into something which people will use once in every 7 years? Thirdly "Hard v/s Easy" point mixed with "Big Vision". When you are telling everyone about your idea if no one has told you why this won't work and have given reasons for the probable failure and if no one has called you an idiot or stupid or looser based on your level of craziness then understand that you are solving an obvious problem which many are perhaps solving. A startup is perhaps a dedication of life's golden years. Unless the problem is big, it is impossible to stay focussed for 10+ years. As Mr. Khosla says "in the quest of choosing a safe business we often chose a problem whose outcome is inconsequential." Forth on the team front: "team that has people with idea, ready to execute, evangelical etc". One important trait is "Whether the team has a good maker or not". A good maker is one who can re-engineer a solution easily, always has a blueprint to solve a problem, can code crazily. From my experience, no one talks about his product or idea if he is not the maker. The passion and energy simply doesn't come out from the heart and the gut. Those who make, love to talk about it, are ready to take criticism but they want to go out and show the world that they made something exciting. If the main founder, the CEO is not part of the product engineering or building team(at least architecture, concept, blueprint, skin design wise), then that startup will not go distance. And the Sales-Ability of the team is important too. Fundamental principle is no one likes to be sold something. People wants to Buy or wants to be helped. Greatest sales persons are all helping in nature and are great listeners. They are innovators too. They innovate their sales, distribution channel all the time. They constantly talk to customers, get their feedback, tries to help them. They read a lot and write a lot. Just like product, a team in startup may also change over time. If the founder is solving a large problem and is a maker, he will figure out right people. It's like honey pot. Passionate founders attracts great people. So in summary to add to Sam's points, look for following trends to know if a startup will be successful or not. 1) Whether the pain is personal to the team 2) Frequency and depth of the need 3) Makers and helpers in the team. 4) If the domain Idea has a long history of research and density is still high 5) If there exists a bunch of crappy products in the domain which you hate to use

When building a team, don't just hire smart people. Of course, it's important to hire smart people, but they should also the people who care for the product and company.

Why is Sam Altman so jacked here? Smart, fit and wise. Deadly combo.