Phil Libin at Startup School 2013

TL;DR

Phil Libin recounts the early years of Evernote, emphasizing that the most important lesson was cultivating a core group of brilliant cofounders who stuck together through three startups. He argues that founders should build a product they personally love and intend to keep forever (no exit strategy), avoid clever or unconventional legal/financial structures, and be prepared for things to get hard

Key insights

• The single most important success factor is having great cofounders; Phil's team from college remained together through three startups and many of them are still at Evernote.
• Being a consultant (building for someone else) is an illusion of control – you work harder but build no long‑term value.
• Building a product you are not personally in love with (e.g., government security crypto) leads to burnout and lack of genuine motivation.