Y Combinator partners conducted a micro interview with entrepreneurs, the essence of which is here

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Jessica Livingston is one of the most connected women in the tech world and a founding partner of Y Combinator, which is the Harvard of startup incubators and has invested more than $60 billion in more than 800 startups since its founding in 2005.

In 2007, Livingston wrote a book called "Founders at Work" based on her interviews with technology founders, including Apple co-founder Steve Wozniak, Adobe co-founder Charles Geschke, Twitter and Medium founder Evan Williams, Flickr founder Caterina Fake and Paypal co-founder Max Levchin. This book has been regarded as a bible for entrepreneurs in recent years.

Therefore, based on the above two points, there is no doubt that Livingston is the best person to answer questions from entrepreneurs. Not long ago, she conducted a micro-interview on the ProductHunt website and answered questions for many entrepreneurs. The following is the essence of the micro-interview:

Beyond the clichés, what are the three common traits that great entrepreneurs share? — From Justin Kwong

1) It really doesn’t matter which school an entrepreneur graduated from

2) Problem-solving skills are really important

3) Who they might become in the future is important

In your opinion, what are the qualities that successful entrepreneurs and entrepreneurial teams need to possess? — From Edwin Espinosa

Successful entrepreneurs are sincere and have a sense of mission. They don't take shortcuts and only care about money.

Can you share with us a story about your entrepreneurial journey that made you WoW? — Sydney Liu

Twitch is a great example. During the company's development, the founders made several huge decision changes. There were really many times when a pessimistic person would have collapsed. But they survived and succeeded.

Zenefits is another example of a company that was sexy because it could make a completely unsexy industry work, namely insurance. Many people turned a blind eye to such ideas, but Parker realized that this unsexy idea could create value in a sexy way.

What reading recommendations do you have for entrepreneurs, on business and finance? — Deepak Murthy

You don’t necessarily need to know about business and finance in the early stages of starting a business. But you do need to know your product. If no one is interested in your product, you will have no money to manage. If you are a novice in the entrepreneurial circle, I recommend watching these videos.

What's the hardest part of your job? — Howard Haines

The hardest part is figuring out which companies are going to be successful early on. Not only do you have to try to guess who the founders are, but you also have to analyze who they will become.

When you make important decisions, do you rely on your gut or trust the data? —Irina Jordan

Usually it’s a gut feeling, but data changes my decision!

What are the essential qualities of a successful entrepreneur? What other things are not important for entrepreneurship and we don’t need to worry too much about them? — From Carlos

You need to clearly understand what problem you need to solve. What you don’t need is a flashy pitch. Because we all know that “a journey of a thousand miles begins with a single step.”

What is the most amazing technology right now? ——From Kevin Ayuque

To be honest, the technology that makes my life as a working woman and mother easier and more efficient is what I want most. Apps like Instacart, DoorDash, and HelloSign have clearly helped improve my quality of life.

How do you manage your time when you have to be a mom and run YC? - Kapil Kanugo

I don't have a solution for this problem either! Like many working mothers, I often feel frustrated when it comes to balancing the two. I once asked VM Ware co-founder Diane Greene how she did it (she was pregnant with her first child when she founded VM Ware), and she said that if she could do it again, she would definitely outsource all household chores that did not involve direct contact with the children (such as cooking, cleaning, gardening).