Garry Tan

Garry Tan quotes on startup Insights

Founder Initialized. PM/designer/eng turned Forbes Midas List Top 100 VC in startups worth over $40B, before product-market fit.

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1

Why is every startup a 10 year overnight success? 80% of new businesses fail in the first 5 years. Another 80% fail in the next 5 years. If you can last 10 years your business is in the top 4% of cos that are still kicking. If you start, be ready to commit for 10 years.

2

Every ten year overnight startup success had nine years of eating glass where the founders wanted to quit... but didn't.

3

If you want to go fast, go alone. If you want to go far, go together. If you are here in startups to get rich quick, if you’re good you’ll get your money. If not, you won’t. See you never. If you are here to go far, I’m here for you. Let’s go there together.

4

Give all the startup advice you want but please never advise new founders to lie about anything. It’s fraud.

5

80% of startup failure = spending too much money, not working hard, bad product, not doing enough sales, not charging enough, hiring poorly

6

Startups are not like school projects. If you miss a critical part of a project you get a B. If you miss a part w/ a startup, you get an F.

7

VCism that I wish wasn’t true: OK founders in a great market usually succeed. Amazing founders in a bad market always fail.

8

If your startup is a chemical reaction, the key to growth is often identifying and solving for your limiting reagent.

9

The counterintuitive thing about some B2B startups is that some exist mainly because they charge more than competitors, not less.

10

Startups can be good and/or hot: Just because you're hot doesn't mean you're good. Reverse also: Not being hot doesn't mean you're not good.

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