Equity in a startup is best treated as a bet that might turn out well, rather than a guarantee.

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• A belief nobody else shares is a warning, and a belief everybody shares is also a warning; the right number of people who agree with you is small but not zero. SASam Altman28 Jul 2026startups
• A business that cannot measure and manage itself as well as its competitors do is in serious danger. TGTren Griffin1 Oct 2024startups
• A company's quality is bounded by its team's quality, and a team's quality is bounded by its founders. TPTom Preston-Werner22 Oct 2025startups
• A founder cannot delegate judgment: the chief executive has to make the decision that makes sense to them, however much momentum the alternative has. MHMax Hodak7 Aug 2026startups
• A founder needs ambition rather than a sense of duty, because a startup is grueling enough that dutifulness will not carry anyone through it. PGPaul Graham3 Sept 2026startups

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