Altman is an American entrepreneur, investor, and programmer. He was the co-founder of Loopt and is the current CEO of OpenAI. He was the president of Y Combinator and was previously the CEO of Reddit.
Here's a brief rundown we've prepared of the most interesting points.
- Work hard, and network genuinely to help other investors and founders.
- Offer assistance to companies in your investment-sourcing network.
- Build a strong brand, e.g., by writing long-form content.
- Identify great founders by evaluating their improvement rate, determination, ambition, and other qualities.
- Predict markets with high growth potential and identify startups riding the wave of new, rapidly growing platforms.
- Focus on opportunities that could become $10 billion companies.
- Beware of investing in bad founders with good ideas or chasing investments based on popularity.
- Closing Investments
- Utilize traditional sales tactics, and spend time with founders.
- Leverage your reputation for being helpful and founder-friendly.
- Be decisive and show your conviction.
- Treat founders as peers.
- Supporting Founders
- Encourage founders to think bigger and set ambitious goals.
- Offer specific, tactical advice on achieving those goals.
- Wait until asked to provide help, but proactively intervene when they're about to make a big mistake.
- Offer emotional support and be a friend to founders.
By understanding these key aspects, investors can navigate the startup investing landscape more effectively and contribute positively to the success of their investments.
You can read the full article here: https://blog.samaltman.com/how-to-invest-in-startups