Description

Startup Roundups (#1, #2) look like they’re settling in as an annual tradition.

I’ve been catching up on queued roundups this week as the family was on vacation. I am back now but the weekly may be pushed to Friday as I dig out from the backlog.

The Central Themes

There is a common theme to the vignettes offered across the years. The central perspective has not much changed.

I would summarize the perspective this way, first in brief and then with more words:

1. Founding SV-style startups or being an early employee is great alpha.
2. You create more value, and you capture more of that value.

3. Building real things that scale is so valuable that you can afford a lot of nonsense.
4. Venture capital similarly does foolish stuff a lot but the successes are so good that if they [...]

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Outline:

(00:25) The Central Themes

(04:12) How To Interpret Advice From Paul Graham

(07:52) Investor Meetings Do Not Create Optimal Strategic Choices

(09:23) Y-Combinator Is A Great Deal

(09:43) Avoiding Marking to Market

(13:59) Worse Deals Are Worse

(17:55) Avoiding Having A Market At All

(19:18) Eventually Be Hustling

(21:32) Without Selection Venture Capital Loses Money

(23:01) Finding Your Startup Idea

(28:00) Some Ideas And Builders Are Bad

(29:36) Whatever Sucks A Lot For You Will Suck A Lot For You

(30:34) Stay Away From Ayahuasca

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First published:

September 3rd, 2025

Source:

https://www.lesswrong.com/posts/qgJfkaxdncpRQCDyg/startup-roundup-3

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Narrated by TYPE III AUDIO.