Founders with traits of obsession, focus, grit, love, intelligence, communication skills, and relentless execution have higher chances of success than those with just a potentially lucrative idea.
- It is easier to start a hard company than an easy company because it attracts talented people who want to help for free.
- Identifying founders with the traits of obsession, focus, grit, and love is more important than identifying ideas with potential to become a ten billion dollar company.
- Intelligence is an important trait for founders as they need to constantly come up with new ideas for their company.
- Strong communication skills are crucial for founders as it is a significant part of their job, and successful founders tend to be great communicators.
- Relentless execution and quick iteration speed are highly correlated with success for founders, as measured by progress made during YC office hours.
- When evaluating founders for investment, look at their growth rate and trajectory rather than comparing them to successful founders like Brian Chesky.