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Where Do Great Startup Ideas Come From? – Dalton Caldwell and Michael Seibel

Dalton Caldwell and Michael Seibel talk about where the ideas for Airbnb, Coinbase, and Stripe came from. Then they discuss what you can learn from these founders. To create Rookies Mistakes we asked YC founders: Is there a simple fact you wish you knew when you started your company or a rookie mistake you wish you could take back? Chapters (Powered by https://bit.ly/chapterme-yc) - 00:00 - Rookie Mistakes 00:30 - 3 common themes 00:35 - 1. Timing 00:48 - 2. Idea 00:59 - 3. Market 01:10 - AirbnB 01:24 - Competition 02:47 - Payments 03:08 - Free listing 03:36 - Solving their own problem 04:35 - Used their own product 04:46 - What were the takeaways when they launched? 05:04 - Criticisms 07:35 - Coinbase 07:46 - Buying Bitcoin 09:22 - Not the first mover 09:33 - Online gold is 10x better than gold 09:54 - Criticisms 11:08 - Undercounted 12:10 - Impossible time raising money on demo day 12:31 - Stripe 12:39 - Context 14:14 - Peer problem 14:42 - Go-to-market 15:19 - What would a programmer want? 16:38 - Most expensive product 16:58 - Criticisms 18:46 - Contrarian 18:59 - They had to build great good products 19:33 - Takeaway 19:37 - Incumbents 19:48 - Don't care about experts 19:53 - Market Research 20:07 - Market math

Michael SeibelhostDalton Caldwellhost

Jan 19, 202220mWatch on YouTube ↗

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EPISODE INFO

Released: January 19, 2022
Duration: 20m
Channel: Y Combinator
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

Dalton Caldwell and Michael Seibel talk about where the ideas for Airbnb, Coinbase, and Stripe came from. Then they discuss what you can learn from these founders. To create Rookies Mistakes we asked YC founders: Is there a simple fact you wish you knew when you started your company or a rookie mistake you wish you could take back? Chapters (Powered by https://bit.ly/chapterme-yc) - 00:00 - Rookie Mistakes 00:30 - 3 common themes 00:35 - 1. Timing 00:48 - 2. Idea 00:59 - 3. Market 01:10 - AirbnB 01:24 - Competition 02:47 - Payments 03:08 - Free listing 03:36 - Solving their own problem 04:35 - Used their own product 04:46 - What were the takeaways when they launched? 05:04 - Criticisms 07:35 - Coinbase 07:46 - Buying Bitcoin 09:22 - Not the first mover 09:33 - Online gold is 10x better than gold 09:54 - Criticisms 11:08 - Undercounted 12:10 - Impossible time raising money on demo day 12:31 - Stripe 12:39 - Context 14:14 - Peer problem 14:42 - Go-to-market 15:19 - What would a programmer want? 16:38 - Most expensive product 16:58 - Criticisms 18:46 - Contrarian 18:59 - They had to build great good products 19:33 - Takeaway 19:37 - Incumbents 19:48 - Don't care about experts 19:53 - Market Research 20:07 - Market math

SPEAKERS

Michael Seibel
host
Y Combinator partner and startup founder (Justin.tv/Twitch), co-hosting the discussion on startup idea origins.
Dalton Caldwell
host
Y Combinator partner and startup founder, co-hosting and sharing firsthand examples of early startup/payment infrastructure experiences.

EPISODE SUMMARY

In this episode of Y Combinator, featuring Michael Seibel and Dalton Caldwell, Where Do Great Startup Ideas Come From? – Dalton Caldwell and Michael Seibel explores why Airbnb, Coinbase, and Stripe Succeeded Despite Being Called Bad Ideas Seibel and Caldwell argue that Airbnb, Coinbase, and Stripe shared three themes: good timing against weak incumbents, widespread dismissal as bad ideas, and markets bigger than the founders first realized.

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