Quotes from Sam Altman

Many of the companies in the mobile location space are trying to figure out different ways to tie what they're doing to commerce.

The startups that do well are the ones that are working all the time.

Mediocre founders spend a lot of time talking about grand plans, but they never quite make a decision.

All companies that grow really big do so in only one way: people recommend the product or service to other people.

The reduction in compassion that happens when we're all behind computer screens is not good for the world.

Everyone is looking for the hack, the secret to success without hard work.

The Loopt mobile app is all about giving you the latest local deals and insider tips.

It really is true that you become an average of the people you spend the most time with.

Every first time founder waits too long, everyone hopes that an employee will turn around. But the right answer is to fire fast.

One thing I tell startups all the time is that the best way to grow is to make their product better.

You also really want to take the time to think about how the market is going to evolve.You need a market that's going to be big in 10 years.

Facebook has this famous poster that says move fast and break things. But at the same time they manage to be obsessed with quality.

Most good founders that I know at any given time have a set of small overarching goals for the company that everybody in the company knows.

Employees will only add more value over time.

... how much time you should be spending on hiring? The answer is 0 or 25 percent.

You're either not hiring at all or it's probably your single biggest block of time.

I think the best thing you can do is be aware that as a first time founder you are likely to be a very bad manager.

People that are really smart and that can learn new things can almost always find a role in the company as time goes on.

Really dig into projects people have worked on and call references; that is another thing that first time founders like to skip.

If you compromise and hire someone mediocre, you will always regret it.

Many founders hire just because it seems like a cool thing to do, and people always ask how many employees you have.

Don't hire for the sake of hiring. Hire because there is no other way to do what you want to do.

There's this famous observation that I totally believe: Great startup ideas are the ones that lie in the intersection of the Venn diagram of 'is a good idea' and 'looks like a bad idea.' So you want most people to think it's a bad idea and thus not compete with you until you get giant. But for it to secretly be good.

Never put your family, friends, or significant other low on your priority list. Prefer a handful of truly close friends to a hundred acquaintances.