In 2014, Sam Altman gave a 1-hour public lecture on how to turn ideas into billion-dollar companies. His core framework: - The best ideas often look terrible at first - Small, fast-growing markets - "Loving" users, not just "okay" users 10 timeless pieces of advice: 1. Ideas are much more important than you think

"There is a popular saying now: ideas are not important, just start doing, try everything, and pivot at any time." Altman's response:

2. First comes the idea, then the startup "The idea should come first, the startup second."

3. Difficult entrepreneurship is easier than simple "Doing a difficult entrepreneurial project is actually easier than doing a simple one." Reason:

4. The best ideas often start out terrible "If it sounds great from the beginning, a bunch of people would have jumped on it already." What you should look for is: the unpopular but right thing.

5. Look at the market growth rate, not the market size "Most investors are now obsessed with market size, but they do not think about how the market will evolve."

6. Create products that a few people will 'fall in love' with. "Making a few users truly passionate is more important than making a large number of users think 'it's okay.'"

7. Reputation is the test standard "When people truly love a product, they will actively recommend it to their friends, and you will see natural growth."

8. Getting started is easier than you think "Even if your long-term plan is very complex, the initial phase can almost always start from a smaller subset."

9. Have a 'fanatical commitment' "When you hear successful founders tell their stories, the word 'fanatical' comes up repeatedly."

10. You can't stop at all Dustin Moskovitz says that the only reasonable reasons to start a business are: "The idea is like breaking through your chest and forcing your way into the world." While at Facebook, he and Justin Rosenstein worked during the day and worked all night as an internal tool and couldn't stop. "When you can't stop, you know you're in the right place." If you can stop, then you most likely should.

Final Summary: Altman's formula: Result = Idea × Product × Execution × Team × Luck Luck is random, The rest is up to you. "Startups survive on growth. Growth is an indicator of great products. ” Most startups are not dead to competition. "They die of not making products that users really love, but spending their time on other things." Don't do it.