1. Optimism, obsession, self-belief, raw horsepower and personal connections are how things get started.
2. Cohesive teams, the right combination of calmness and urgency, and unreasonable commitment are how things get finished. Long-term orientation is in short supply; try not to worry about what people think in the short term, which will get easier over time.
3. It is easier for a team to do a hard thing that really matters than to do an easy thing that doesn’t really matter; audacious ideas motivate people.
4. Incentives are superpowers; set them carefully.
5. Concentrate your resources on a small number of high-conviction bets; this is easy to say but evidently hard to do. You can delete more stuff than you think.
6. Communicate clearly and concisely.
7. Fight bullshit and bureaucracy every time you see it and get other people to fight it too. Do not let the org chart get in the way of people working productively together.
8. Outcomes are what count; don’t let good process excuse bad results.
9. Spend more time recruiting. Take risks on high-potential people with a fast rate of improvement. Look for evidence of getting stuff done in addition to intelligence.
10. Superstars are even more valuable than they seem, but you have to evaluate people on their net impact on the performance of the organization.
11. Fast iteration can make up for a lot; it’s usually ok to be wrong if you iterate quickly. Plans should be measured in decades, execution should be measured in weeks.
12. Don’t fight the business equivalent of the laws of physics.
13. Inspiration is perishable and life goes by fast. Inaction is a particularly insidious type of risk.
14. Scale often has surprising emergent properties.
15. Compounding exponentials are magic. In particular, you really want to build a business that gets a compounding advantage with scale.
16. Get back up and keep going.
17. Working with great people is one of the best parts of life.

Helion has been progressing even faster than I expected and is on pace in 2024 to 1) demonstrate Q > 1 fusion and 2) resolve all questions needed to design a mass-producible fusion generator.

The goals of the company are quite ambitious—clean, continuous energy for 1 cent per kilowatt-hour, and the ability to manufacture enough power plants to satisfy the current electrical demand of earth in a ten year period.

If both things happen, it will transform the world. Abundant, clean, and radically inexpensive energy will elevate the quality of life for all of us—think about how much the cost of energy factors into what we do and use. Also, electricity at this price will allow us to do things like efficiently capture carbon (so although we’ll still rely on gasoline for awhile, it’ll be ok).

Although Helion’s scientific progress of the past 8 years is phenomenal and necessary, it is not sufficient to rapidly get to this new energy economy. Helion now needs to figure out how to engineer machines that don’t break, how to build a factory and supply chain capable of manufacturing a machine every day, how to work with power grids and governments around the world, and more.

The biggest input to the degree and speed of success at the company is now the talent of the people who join the team. Here are a few of the most critical jobs, but please don’t let the lack of a perfect fit deter you from applying.

Electrical Engineer, Low Voltage: https://boards.greenhouse.io/helionenergy/jobs/4044506005
Electrical Engineer, Pulsed Power: https://boards.greenhouse.io/helionenergy/jobs/4044510005
Mechanical Engineer, Generator Systems: https://boards.greenhouse.io/helionenergy/jobs/4044522005
Manager of Mechanical Engineering: https://boards.greenhouse.io/helionenergy/jobs/4044521005

Today we did a research launch of DALL•E 2, a new AI tool that can create and edit images from natural language instructions. 

Most importantly, we hope people love the tool and find it useful. For me, it’s the most delightful thing to play with we’ve created so far. I find it to be creativity-enhancing, helpful for many different situations, and fun in a way I haven’t felt from technology in a while.

But I also think it’s noteworthy for a few reasons:

1) This is another example of what I think is going to be a new computer interface trend: you say what you want in natural language or with contextual clues, and the computer does it. We offer this for code and now image generation; both of these will get a lot better. But the same trend will happen in new ways until eventually it works for complex tasks—we can imagine an “AI office worker” that takes requests in natural language like a human does.

2) It sure does seem to “understand” concepts at many levels and how they relate to each other in sophisticated ways.

3) Copilot is a tool that helps coders be more productive, but still is very far from being able to create a full program. DALL•E 2 is a tool that will help artists and illustrators be more creative, but it can also create a “complete work”. This may be an early example of the impact AI on labor markets. Although I firmly believe AI will create lots of new jobs, and make many existing jobs much better by doing the boring bits well, I think it’s important to be honest that it’s increasingly going to make some jobs not very relevant (like technology frequently does).

4) It’s a reminder that predictions about AI are very difficult to make. A decade ago, the conventional wisdom was that AI would first impact physical labor, and then cognitive labor, and then maybe someday it could do creative work. It now looks like it’s going to go in the opposite order.

5) It’s an example of a world in which good ideas are the limit for what we can do, not specific skills.

6) Although the upsides are great, the model is powerful enough that it's easy to imagine the downsides.

Hopefully this summer, we’ll do a product launch and people will be able to use it for all sorts of things. We wanted to start with a research launch to figure out how to minimize the downsides in collaboration with a larger group of researchers and artists, and to give people some time to adapt to the change—in general, we are believers in incremental deployment strategies. (Obviously the world already has Photoshop and we already know that images can be manipulated, for good and bad.)

I’m delighted to be investing more in Helion. Helion is by far the most promising approach to fusion I’ve seen.

David and Chris are two of the most impressive founders and builders (in the sense of building fusion machines, in addition to building companies!) I have ever met, and they have done something remarkable. When I first invested in them back in 2014, I was struck by the thoughtfulness of their plans about the scientific approach, the system design, cost optimizations, and the fuel cycle.

And now, with a tiny fraction of the money spent on other fusion efforts but the culture of a startup, they and their team have built a generator that produces electricity. Helion has a clear path to net electricity by 2024, and has a long-term goal of delivering electricity for 1 cent per kilowatt-hour. (!)

If this all works as we hope, we may have a path out of the climate crisis. Even though there are a lot of emissions that don’t come from electrical generation, we’d be able to use abundant energy to capture carbon and other greenhouses gases.

And if we have much cheaper energy than ever before, we can do things that are difficult to imagine today. The cost of energy is one of the fundamental inputs in the costs of so much else; dramatically cheaper energy will lead to dramatically better quality of life for many people.

A founder recently asked me how to stop caring what other people think. I didn’t have an answer, and after reflecting on it more, I think it's the wrong question.

Almost everyone cares what someone thinks (though caring what everyone thinks is definitely a mistake), and it's probably important. Caring too much makes you a sheep. But you need to be at least a little in tune with others to do something useful for them.

It seems like there are two degrees of freedom: you can choose the people whose opinions you care about (and on what subjects), and you can choose the timescale you care about them on. Most people figure out the former [1] but the latter doesn’t seem to get much attention.

The most impressive people I know care a lot about what people think, even people whose opinions they really shouldn’t value (a surprising numbers of them do something like keeping a folder of screenshots of tweets from haters). But what makes them unusual is that they generally care about other people’s opinions on a very long time horizon—as long as the history books get it right, they take some pride in letting the newspapers get it wrong. 

You should trade being short-term low-status for being long-term high-status, which most people seem unwilling to do. A common way this happens is by eventually being right about an important but deeply non-consensus bet. But there are lots of other ways–the key observation is that as long as you are right, being misunderstood by most people is a strength not a weakness. You and a small group of rebels get the space to solve an important problem that might otherwise not get solved.

[1] In the memorable words of Coco Chanel, “I don’t care what you think about me. I don’t think about you at all.”

A lot of people want to replicate YC in some other industry or some other place or with some other strategy. In general, people seem to assume that: 1) although there was some degree of mystery or luck about how YC got going, it can’t be that hard, and 2) if you can get it off the ground, the network effects are self-sustaining.

More YC-like things are good for the world; I generally try to be helpful. But almost none of them work. People are right about the self-sustaining part, but they can’t figure out how to get something going.

The entire secret to YC getting going was PG and Jessica—there was no other magic trick. A few times a year, I end up in a conversation at a party where someone tells a story about how much PG changed their life—people speak with more gratitude than they do towards pretty much anyone else. Then everyone else agrees, YC founders and otherwise (non-YC founders might talk about an impactful essay or getting hired at a YC company). Jessica still sadly doesn’t get nearly the same degree of public credit, but the people who were around the early days of YC know the real story.

What did they do? They took bets on unknown people and believed in them more than anyone had before. They set strong norms and fought back hard against bad behavior towards YC founders. They trusted their own convictions, were willing to do things their way, and were willing to be disliked by the existing power structures. They focused on the most important things, they worked hard, and they spent a huge amount of time 1:1 with people. They understood the value of community and long-term orientation. When YC was very small, it felt like a family.

Perhaps most importantly, they built an ecosystem (thanks to Joe Gebbia for pointing this out). This is easy to talk about but hard to do, because it requires not being greedy. YC has left a lot of money on the table; other people have made more money from the ecosystem than YC has itself. This has cemented YC’s place—the benefits to the partners, alumni, current batch founders, Hacker News readers, Demo Day investors, and everyone else around YC is a huge part of what makes it work.

I am not sure if any of this is particularly useful advice—none of it sounds that hard, and yet in the 15 years since, it hasn’t been close to replicated.

But it seems worth trying. I am pretty sure no one has had a bigger total impact on the careers of people in the startup industry over that time period than the two of them.