Key insights

• 📈 The abundance of advice signifies a positive trend of support for startups.
• ⚖️ The challenge lies in determining whose advice to prioritize and follow.
• ⛔ Avoid seeking advice from too many people to prevent information overload.
• 🎯 Picking a single advisor can be more effective than averaging advice from multiple sources.
• 🤝 Selecting one or two individuals as advisors can be more beneficial for seeking guidance.
• 🚫 Avoid prescriptive advisors who give clean yes or no answers.
• 🌐 Seek advisors with diverse experience to get nuanced and non-prescriptive advice.
• 💼 Pick an advisor you get along with and enjoy spending time with.

Q&A

• How should founders evaluate advice and advisors?

  Founders should evaluate advice based on its merit, not the person giving it, pick an advisor they enjoy spending time with, and listen to good advice regardless of the source.

• Why is diverse experience important when seeking advisors?

  Advisors with diverse experience can provide nuanced and non-prescriptive advice, which is valuable for founders in making informed decisions.

• What should founders look for in an advisor?

  Founders should seek advisors who offer nuanced insights, demonstrate experience, and avoid providing overly prescriptive or rigid advice.

• Why is picking a single advisor considered effective?

  Picking a single advisor can provide valuable context and be more beneficial than averaging advice from multiple sources, leading to more effective outcomes for startups.

• How does seeking advice from multiple sources impact founders?

  Seeking advice from too many people can lead to information overload, waste time, and hinder progress on building a company.

• What is the challenge for founders when it comes to seeking advice?

  Founders often face the challenge of determining whose advice to prioritize and follow amidst the multitude of available guidance, especially from NYC and YC.

• 00:00 Founders are often overwhelmed by the abundance of advice from various sources, but it's a positive challenge. The key is to carefully select whose advice to follow.
• 00:45 Seeking advice from multiple sources can lead to information overload and waste time, hindering progress on building a company.
• 01:26 Picking a single advisor can be more effective than averaging advice from multiple sources. Establishing a consistent advisor can provide valuable context for better guidance.
• 02:14 When choosing an advisor, avoid individuals who provide overly prescriptive advice and rigid yes or no answers. Seek advisors who offer nuanced insights and demonstrate experience.
• 03:01 Seek advisors with diverse experience to get nuanced and non-prescriptive advice. The more experiment runs you see, the more nuanced advice you can provide.
• 04:00 Choose an advisor you enjoy spending time with, evaluate advice based on merit not the person giving it, and listen to good advice regardless of the source.