Y Combinator Startup Podcast Stop Innovating (On The Wrong Things) | Dalton & Michael Podcast
20 snips
Mar 15, 2024 Startups face innovation challenges that can hinder success. It's crucial to focus on solving real customer problems rather than getting sidetracked by unnecessary innovations. Founders should recognize anti-patterns, like deviating from effective corporate structures. Questioning established beliefs can lead to breakthroughs, as seen in ambitious projects like the hydrogen economy. Balancing customer needs with technical choices is vital, as is simplifying offerings before pursuing complex innovations.
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Focus on Core Product
- Focus your innovation energy on your core product and customer problem.
- Use best practices for everything else and avoid unnecessary side bets.
Standard Corporate Governance
- Avoid innovating on corporate governance, like using unusual incorporation structures.
- Stick to standard practices like Delaware C-corps for a typical startup.
OpenAI's Structure
- OpenAI's complex corporate structure, a non-profit owning a for-profit, is not recommended.
- Even Sam Altman admitted it might not have been the wisest choice.