Quotes from Michael Seibel

Investors like to invest based on traction, so it's always better to raise money when you've got more traction than less.

Convince the investor that you guys are moving fast and that this isn't some long slog... you're thinking about it like a startup where you can move fast and make mistakes.

If you can't hire someone smarter than you, do it yourself.

Increase your company's average talent with each hire - founders tend to be pretty smart but willing to take on risk. Employees should be a lot smarter and less risk averse.

It turns out that one of the biggest drivers of investors are both successful and non-successful startup founders.

Socialcam shares Autodesk's mission of helping everybody imagine, design, and create a better world.

Startups are often best at solving the personal problems of their founders. The more diverse the founders, the more types of problems can be solved - and the more people who will be positively impacted by technology.

Never put the investor in the ultimate position of power.

One of the things that's so interesting when talking to minority founders specifically is that there is really a knowledge gap in understanding what the risk-reward profile is for doing a startup.

When I think about unique insight, what I think about is here's your opportunity to tell me something that I don't know.

It's fairly common knowledge that a startup can't execute on two products simultaneously.

I either like reading fun war-based sci-fi, books about the lives of chefs, or dry historical non-fiction.

One thing I like to tell founders is the more you talk, the more you have an opportunity to say something that people don't like. Talk less, and it will probably be better.

My definition of product-market fit is you are drowning in demand - your product is being used by so many customers that you cannot handle all the new people knocking at your door!

Minorities often feel like they are on the outside looking in when it comes to the Valley and tech start-ups in general.

A lot of times when you're an investor, it's very easy to lean back and say, 'Well, people should come to me in Silicon Valley.' YC has the opposite opinion.

What I Iove about Y Combinator is that it is a level playing field. If you get in, you immediately become a Silicon Valley insider.

Minority founders often feel like they are on the outside looking in when it comes to Silicon Valley and tech startups in general.

I think co-working spaces, incubators, and accelerators outside of the Bay Area do a lot to foster a local startup scene - which is really important for early founders, but I also think that exposure to the Bay Area is extremely valuable for startups.

It's very easy to do a fundraiser and spend a lot of money on food and venue and not raise any money. You really do need to twist people's arms into giving, even if they support you.

Good founders can give me a picture of the future that I can believe. And the second that I believe your version of the future, you have leverage.

I think tech is driving most of the innovation and will continue to for a very, very long time.

For me, iPad 2 and tablets in general are really exciting from a front-facing camera perspective, making those short video clips where you're talking about where you are or what you're interested in, and your face fills up the entire screen.

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