A Quote by Eric Lefkofsky
I'm going to start a lot of companies. These are not sham companies. These are great businesses.
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Trust-me companies are companies whose financial results gallop ahead of their businesses, companies with seemingly perfect control over their quarterly sales and profits. Companies whose financial statements are loaded with footnotes: companies that short-sellers often attack but rarely dent.
Bad companies are destroyed by crisis. Good companies survive them. Great individuals, like great companies, find a way to transform weakness into strength.
One of the best investors around, Joel Greenblatt, has written a popular, charming and funny book about investing in great companies at low P/E multiples. To simplify an already simple book, great companies are generally measured as companies that can generate lots of profit without requiring a lot of capital. This means that they have high ROEs.
European and American companies companies do create jobs for some people but what they're mainly going to do is make an already wealthy elite wealthier, and increase its greed and strong desire to hang on to power. So immediately and in the long run, these companies - harm the democratic process a great deal.
I would say the consumer Internet companies - in a lot of ways, if you go inside the consumer Internet companies and you see how they run, it's how all their businesses are going to run.
I am seeing change at earlier stage start-up companies. For a lot of big companies, the ship has sailed. They are trying to bolt on diversity and inclusion.
I believe companies like ours are going to be as large as media companies and social networking companies that are valued in the tens of billions of dollars.
Cable and satellite businesses are competing against fixed-line telephone companies and wireless companies.
If you think about companies that were built in Silicon Valley, a lot of them early on were chip companies. And now the companies that are there, like Apple, are much more successful than any of the chip companies were.
It's really hard to argue that bitcoin doesn't have many legitimate benefits to companies that are legal businesses when you have Dell and Expedia and all these companies now accepting it.
When screening engineers from other companies, its smart to value engineers from great companies more than those from mediocre companies.
It's a lot easier to gain traction when there is such a great proliferation of Internet access. The velocity at which some of these startups are gaining traction is mind-boggling. Companies like ShoeDazzle, Stella & Dot, Gilt, Groupon - these companies are going from zero to hundreds of millions in revenue in three years.
Baidu and Google are great companies, but there are a lot of things you can do outside them. Just as electricity and the Internet transformed the world, I think the rise of modern A.I. technology will create a lot of opportunities both for new startups and for incumbent companies to transform.
Bad companies are destroyed by crisis, Good companies survive them, Great companies are improved by them.
When we first started our internet company, 'China Pages', in 1995, and we were just making home pages for a lot of Chinese companies. We went to the big owners, the big companies, and they didn't want to do it. We go to state-owned companies, and they didn't want to do it. Only the small and medium companies really want to do it.
The most common post YC failure case for the companies we fund, is they're incredibly focussed during YC on their company... and after they start doing a lot of other things. They advise companies, they go to conferences, whatever.
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