Best startup lessons from Y CombinatorㅣMichael Seibel
EO・2 minutes read
Michael Seibel, co-founder of Twitch and Y Combinator mentor, shares his journey from aspiring lawyer to successful CEO of Twitch, highlighting key lessons such as building their own video system and focusing on video game streamers. He emphasizes the importance of facing fears, prioritizing challenges, and openly discussing failures in the startup world, advising founders to focus on creating products people want and engaging with users.
Insights
- Michael Seibel transitioned from wanting to be a lawyer to co-founding Twitch, emphasizing the importance of being open to changing career paths based on evolving interests and opportunities.
- Y Combinator, where Seibel now helps founders, stresses the significance of facing fears, prioritizing challenges, and openly discussing struggles to build successful startups, alongside providing tools and programs to support founders at various stages.
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Recent questions
Who is Michael Seibel?
Co-founder of Twitch and Social Cam
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Summary
00:00
Michael Seibel: From Twitch Co-founder to Y Combinator
- Michael Seibel, co-founder of Twitch and Social Cam, now helps founders at Y Combinator.
- Attended Yale, initially wanted to be a lawyer but changed his mind.
- Joined Justin Kan in starting Justin.tv, later Twitch, as the CEO.
- Transitioned from reality TV show to a platform for live video streaming.
- Received crucial advice from Paul Buchheit at Y Combinator to build their own video system.
- Shifted focus to video game streamers, leading to the creation of Twitch.
- Implemented a paywall for international viewers, increasing revenue significantly.
- Twitch was acquired by Amazon in 2014, despite initial lack of investor interest.
- Emphasizes the importance of working on a startup for at least two years before expecting success.
- After success with Twitch, Seibel joined Y Combinator, focusing on technical teams, team dynamics, and industry-specific advantages.
11:53
Founders' Fear Hinders Startup Success and Growth
- Founders should not focus on selling their product out of fear of firing employees who are not performing well.
- Mistakes made by founders often stem from acting out of fear or thinking they are too smart.
- Fear can be a signal to run towards challenges, and uncomfortable tasks on the to-do list should be prioritized.
- Startups should openly discuss the challenges and fears they face, contrary to the common trend of only highlighting successes.
- YC advises founders to create products people want, engage in non-scalable activities, and communicate with users.
- YC provides various tools and programs to support founders at different stages, including a social network, special deals, and investor databases.
