This Week in Startups Garry Tan on lessons from past startup failures, power of community funnels, Alexis Ohanian’s departure & more | Angel S5 E8
Mar 11, 2021
Garry Tan, Co-founder of Initialized Capital and former partner at Y Combinator, shares rich insights from his entrepreneurial journey. He discusses lessons learned from startup failures and the critical importance of building strong team dynamics. The rise of community-driven initiatives is emphasized, showcasing the power of supportive networks. Garry also delves into venture investment strategies, highlighting the evolving landscape of early-stage funding and the complexities of investor relationships, underscoring innovation in the tech space.
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Posterous Lessons
- Garry Tan reflects on Posterous, a startup where he achieved initial product-market fit but struggled with scaling the organization.
- He regrets not hiring an executive team and giving up coding, ultimately leading to the company's downfall.
Growth Phase Focus
- Focus on hiring and retaining a strong team during a startup's growth phase.
- Set clear goals (OKRs) and give your team space to execute without micromanaging.
Software and Community in VC
- The venture capital industry needs more software integration, similar to what Paul Graham did with Y Combinator's application process.
- Building online communities and content creation act as a funnel for potential founders.