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All Great Startup Teams Have These 3 Traits


by Terrence Yang | Founder, Precelerator, Yang Ventures | @yangterrence

  • Determination. A great team is determined to make something people want asap. This means shipping fast and often, running fast cheap tests, watching users in person use the product and asking for feedback. This includes being resourceful and persistent.
  • Monomaniacal Passion. A great team is solely focused on and obsessed about solving one problem for one (initial) demographic. The team should be genuinely passionate about the problem they are solving and the startup’s purpose.
  • Urgency/Drive. A great team has a sense of urgency and wants to build product, release to many users and iterate and repeat, all within as short and tight a loop as possible.

The Biggest Mistakes Startup Entrepreneurs Make After Seed Funding


by Terrence Yang | Founder, Precelerator, Yang Ventures | @yangterrence


All the mistakes entrepreneurs make after raising seed-stage funding ultimately reflect a failure to just make something at least some folks really want, and do it in a way that can be profitable some day.

Nothing else really matters.

Common mistakes include –

Failure of mindset. Failing to be obsessed, focused, determined, resourceful, driven, compelled and relentless in figuring out how to make something that at least some folks really want.

Scaling too early.

Hiring technical folks and salespeople too early.

Wasting time on partnerships.

Partnerships are not the answer. What Gates did with IBM is a once in a lifetime occurrence. Just focus on making stuff some folks really want.

Wasting time chasing deals with big companies, governments or non-profits.

These folks move slowly and want customized solutions.  You have limited time to prove you can get real, paying customers before Series A.

Wasting time on vanity metrics.

Wasting time on press and PR.

Failing to be a great leader and manager.

Wasting time going to events and conferences.

Wasting time on cofounder disputes.

Wasting money on service providers such as the vast majority of social media consultants and growth hackers.

Failing to have first principles and run fast, cheap tests.

Non-great entrepreneurs often try to avoid talking to customers and hire a magical salesperson to swoop in on a unicorn and suddenly increase revenues dramatically.

Failing to hire only when there is great pain.

Inability to recruit.

Non-great entrepreneurs can not persuade great technical and non-technical people to join the team for below-market salary and equity at an appropriate title and level of responsibility.

Failing to be frugal.

High burn rates.

Getting an office before you’re ready.

Spending money and time on things that are not related to building product, testing it with users, observing their behavior and facial reactions in person, and iterating based off the feedback.

What you should know about Apple’s latest iOS language, SWIFT


Terrence Yang Mentoring Startup UCLA Acceleratee

by Terrence Yang | Founder, Precelerator, Yang Ventures | @yangterrence

Executive Summary for Consumers.

  • Swift is Apple’s new programming language for apps in the Mac, iPhone and iPad.
  • Swift will result in better apps for the Mac, iPhone and iPad user.
  • This is because Swift makes it easier than the current language to write, test and launch great Apple apps.
  • Apps will be more fun, more useful, more robust, less buggy and more complex.
  • Swift will work with and replace the 30+ year old Objective-C, Apple’s current app programming language.
  • Swift is faster to code and easier to test than Objective-C.
  • Swift code can often run faster than Objective-C and other languages, like Python.

What You Should Know About Swift (Below More for New or Future Programmers).

  • Swift is an innovative, new, proprietary programming language from Apple that can co-exist with, but is significantly better than, Objective-C
  • Swift was announced at WWDC, Apple’s developer conference
  • Objective-C is the current programming language for iOS and OS X
  • Swift code and Objective-C can live in the same app together, so developers can upgrade their code as they go, rather than replacing it in one shot
  • Swift is designed to be more resilient against erroneous code than Objective-C
  • Don’t be surprised when Swift quickly replaces Objective-C
  • Swift should result in more great iOS and OS X apps
  • Swift enables developers to write apps easier, especially more complex apps
  • Apps written in Swift should be better, faster and more stable
  • Swift should become stable in due course
  • Apple will not guarantee source compatibility until Swift is released along with iOS 8
  • iOS 8 beta was released at WWDC to Apple developers
  • Changes to Swift will require source conversions
  • It seems Apple is doing a fast release with iterations to come
  • Swift is designed to replace Objective-C for Apple apps and be a more powerful language than Python
  • Objective-C has been around for over 30 years
  • Swift is a terse language, enabling developers to write less to get the same effect
  • Swift is good for complex code – like Objective-C
  • Swift gives developers the ability to quickly and easily test an app
  • With Swift, developers can create complex apps more quickly

More Info For Apple Developers.

  • Using the high-performance LLVM compiler, Swift code is transformed into optimized native code, tuned to get the most out of modern Mac, iPhone, and iPad hardware.
  • Swift is designed to provide seamless compatibility with Cocoa and Objective-C
  • Developers can use Objective-C APIs (ranging from system frameworks to the developer’s own custom code) in Swift
  • Developers can use Swift APIs in Objective-C
  • Here are three important aspects of this compatibility:
  • Interoperability lets you interface between Swift and Objective-C code
  • Mix and match allows you to create mixed-language apps containing both Swift and Objective-C files that can communicate with each other
  • Migration from existing Objective-C code to Swift is easy with interoperability and mix and match. You can replace parts of your Objective-C apps with the latest Swift features

Sources, Additional Disclosures. Sources for above include Apple, Chris Lattner’s Homepage, CNET, Hacker News, Wikipedia, The Next Web Note: I own Apple stock. I may have limit buy or sell orders and other positions. I may change my positions without warning.

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