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Sam Altman: A long-term commitment is the only arbitrage opportunity left in startups “Most companies have a 2-3 year time horizon. But companies are almost always a 10 year project if they work. If you think about it that way from the very beginning, you will make very different... show more
131,168 görüntüleme • 1 yıl önce •via X (Twitter)
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Watch the full @StanfordOnline lecture with Sam Altman here:

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"How and Why to Start A Startup - Sam Altman & Dustin Moskovitz - Stanford CS183F: Startup School" FULL VIDEO SUMMARY

Deciding to think long term from the start is very smart but the idea that that is the “only” arbitrage left is nonsense. Markets will always have many forms of arbitrage that come and go. The last one left? Gimme a break.

Does he cover stealing from thousands of sources as being part of that long term perspective?

He is a successful entrepreneur I am not. But if it means you have to spend more time on a new project I disagree, after all you can't know if it will stick out. If it means think long term act quickly I agree

This is completely true, but not how most VCs I’ve encountered think or act. A sustainable startup ecosystem that builds meaningful business and provides real benefits to society requires this to be the prevailing view.

Great advice!! Founders need to be in it for the long term. To seriously see returns.

Interesting. Reminds me of Bezos - one of Amazon’s advantages is long-term thinking. This also seems to be the case with investing. Time arbitrage/long-term thinking appears to be the greatest differentiator in investment performance over time. “The market is a giant mechanism for transferring wealth from the impatient to the patient.” (Paraphrasing Buffett)

Lol. Maybe @ycombinator will un-expel me now? It's so funny that they wrote me off, kicked me out, and then started realizing I was right about everything.

