'I want to fund those people': Sam Altman on the important ingredient he looks for
OpenAI CEO Sam Altman has said that apart from enhancing efficiency, reducing human error and automating repetitive tasks, artificial intelligence (AI) technology has changed one, long-standing Silicon Valley rule: if you couldn't code, your ‘big idea’ didn't mean much. In a recent onstage conversation with Stripe CEO Patrick Collison at the Stripe Sessions conference, Altman said that he has always wanted to fund the ‘idea guy’, and AI has helped bring the talent to the forefront.
“All of a sudden it's like the revenge of the idea guys,” Altman said, adding, “For a long time, I think the most important ingredient that I looked for — YC looked for, that kind of this part of our industry looked for on a founding team — was technical talent.”
“And that's still very important, but now people who just really deeply understand their users and can't code at all. I want to fund those people,” Altman pointed out, as per Business Insider.
Altman said that with generative AI ’s ability to handle complex coding, the technical barriers that once blocked visionary thinkers are not a problem anymore.
From mockery to millions
Altman, who previously headed the world-renowned startup incubator Y Combinator (YC), admitted that the industry used to laugh at people who had great ideas but no technical skills.
“There were these people that wanted to start a company and they'd say like, 'I have the best idea. I'm not going to tell you what it is. I have the best idea. I just need a coder to build it for me and then I'm going to be in great shape,'. And we would make fun of these people,” Altman said.
“Now people who just really deeply understand their users and can't code at all – I want to fund those people,” Altman told the audience.
Altman’s shift in perspective comes as AI tools make it easier than ever to translate a vision into a functional product without a deep background in computer science. For Altman, the most valuable founders today are those who possess an understanding of what customers actually need, the ability to see a gap in the market that technology can now fill and ability to use AI as a force multiplier to build what was previously impossible for a non-coder.
What AI hasn’t changed
Despite his excitement over AI-driven development, Altman warned that some “old school” business truths still apply. He cautioned investors against sitting on the sidelines to wait for the “perfect” AI moment, noting that a “suspension of disbelief” is required to build anything on a 10-year horizon.
Additionally, Altman remains firm on the importance of co-founder relationships. He noted that startups where founders met just days before applying for funding rarely succeed.
Altman has already has early, pre-AI bets. His personal fortune was largely cemented by early investments in Reddit, Stripe and Airbnb.
“All of a sudden it's like the revenge of the idea guys,” Altman said, adding, “For a long time, I think the most important ingredient that I looked for — YC looked for, that kind of this part of our industry looked for on a founding team — was technical talent.”
“And that's still very important, but now people who just really deeply understand their users and can't code at all. I want to fund those people,” Altman pointed out, as per Business Insider.
Altman said that with generative AI ’s ability to handle complex coding, the technical barriers that once blocked visionary thinkers are not a problem anymore.
From mockery to millions
Altman, who previously headed the world-renowned startup incubator Y Combinator (YC), admitted that the industry used to laugh at people who had great ideas but no technical skills.
“There were these people that wanted to start a company and they'd say like, 'I have the best idea. I'm not going to tell you what it is. I have the best idea. I just need a coder to build it for me and then I'm going to be in great shape,'. And we would make fun of these people,” Altman said.
“Now people who just really deeply understand their users and can't code at all – I want to fund those people,” Altman told the audience.
Altman’s shift in perspective comes as AI tools make it easier than ever to translate a vision into a functional product without a deep background in computer science. For Altman, the most valuable founders today are those who possess an understanding of what customers actually need, the ability to see a gap in the market that technology can now fill and ability to use AI as a force multiplier to build what was previously impossible for a non-coder.
What AI hasn’t changed
Despite his excitement over AI-driven development, Altman warned that some “old school” business truths still apply. He cautioned investors against sitting on the sidelines to wait for the “perfect” AI moment, noting that a “suspension of disbelief” is required to build anything on a 10-year horizon.
Additionally, Altman remains firm on the importance of co-founder relationships. He noted that startups where founders met just days before applying for funding rarely succeed.
Altman has already has early, pre-AI bets. His personal fortune was largely cemented by early investments in Reddit, Stripe and Airbnb.
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