Thousands of Photo-Sharing Apps. Four Fusion Startups.
Altman: I think in the current environment it's easier to start a hard company than an easy one. The year before I started, there had been many thousands of photo-sharing startups because everyone wanted to be the next Instagram. And there were four nuclear fusion startups in the world.
That seemed to me like wrong — or at least a misallocation of risk and reward.
Thousands of photo-sharing startups. Four fusion startups. A misallocation of risk and reward.
The 10-Year Commitment
Altman: A lot of people have this thing — I need to first start a company so I can make a million dollars in 3 years, then I'm going to do what I really want. That usually doesn't work. Even things people perceive as easy companies still take 10 years.
If you're going to commit 10 years either way — I think there's never been an easier time to start a hard company as your first company.
Even easy companies take 10 years. If you're committing either way, start the hard one.
The Tailwind of Hard Problems
Altman: Easy companies are boring. It's very hard to get the 10th or 20th employee to join. Hard to differentiate. Hundreds of shots on goal for every good idea. People don't care that much.
But if you're starting a nuclear fusion company — even if the odds are against you — people really want to help you. You have this tailwind. People want to join you in the quest. That is a super valuable thing, especially in a time when there's so much clutter and noise.
Nuclear fusion: people want to join the quest. That tailwind is super valuable.