Real vs Fake Startups

What is the difference between a "real" vs a "fake" startup? In this video, Dalton and Michael discuss the difference between founders doing the real work of building and talking to customers vs pretending, and offer guidance for how founders should think about role models. As Michael says, its never too late to fix! Dalton + Michael is brought to you by @Standard_Cap Dalton Caldwell on X: https://x.com/daltonc Michael Seibel on X: https://x.com/mwseibel

Dalton CaldwellhostMichael Seibelhost

Dec 1, 20259mWatch on YouTube ↗

EPISODE INFO

Released: December 1, 2025
Duration: 9m
Channel: Dalton + Michael
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

What is the difference between a "real" vs a "fake" startup? In this video, Dalton and Michael discuss the difference between founders doing the real work of building and talking to customers vs pretending, and offer guidance for how founders should think about role models. As Michael says, its never too late to fix! Dalton + Michael is brought to you by @Standard_Cap Dalton Caldwell on X: https://x.com/daltonc Michael Seibel on X: https://x.com/mwseibel

SPEAKERS

Dalton Caldwell
host
Startup founder and Y Combinator partner focused on advising early-stage companies.
Michael Seibel
host
Y Combinator leader and startup founder known for coaching and selecting early-stage startups.

EPISODE SUMMARY

In this episode of Dalton + Michael, featuring Dalton Caldwell and Michael Seibel, Real vs Fake Startups explores real vs fake startups: building value versus performing startup culture They define an extreme “fake startup” as one that prioritizes optics—hiring, fundraising, status—without building or shipping a real product.

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