Michael Seibel is a partner and the CEO of YC. He cofounded Justin.tv, which was in the winter 2007 batch and Socialcam, which was in the winter 2012 batch.In this episode Michael comments on five of his essays. The essays are: Why Should I Start a Startup?, One Order of Operations for Starting a Startup, The Real Product Market Fit, Users You Don’t Want, and Why Does Your Company Deserve More Money?Michael’s on Twitter @mwseibel.The YC podcast is hosted by Craig Cannon.***Topics0:00 - Intro0:42 - Why Should I Start a Startup?2:00 - Three types of people: people highly motivated when working for themselves, people that could succeed starting a startup or within a big company, and people that could succeed within a big company.6:00 - How do you decide what type of person you are?7:30 - Identify bias in advice givers10:30 - Peer advice becomes less valuable during college14:40 - One Order of Operations for Starting a Startup15:40 - People aren’t taught how to find ideas17:20 - Find a particular problem that you’re passionate about20:55 - Find some friends and brainstorm a solution23:20 - Build an MVP25:55 - Two failed orders of operations for starting a startup29:57 - The Real Product Market Fit 30:57 - Why do many founders think they have product market fit when they don’t?35:42 - Building a successful company is not a single variable problem37:27 - Socialcam didn’t hit product market fit38:37 - Justin.tv had $1M in profit before reaching product market fit42:27 - Some companies take a long time42:55 - Users You Don’t Want44:25 - The spectrum of how users are using your product45:55 - Users that take a lot of customer support time48:50 - Don’t let the hijack users control the product roadmap49:31 - Why Does Your Company Deserve More Money?50:31 - A team, a product, and an office are all just a means to an end51:31 - If you don’t really deserve money, what is an alternate path to create leverage?53:16 - Breaking even at Justin.tv was a moment of infinite clarity55:31 - Series A program and leverage

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“What did the council decide on item 42?” — answered with the speaker and the moment.