What are some strategies to avoid the pitfalls of companies that ultimately fail?

Work on real work.  Stay focused on building a product your users love and hitting your growth targets.  Try to have a board and peers who will make you hold yourself accountable.  Make the mistake of focusing too much on what matters most, not too little, and relentlessly protect your time from everything else.

Sam Altman in The Post-YC Slump
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What are some strategies to avoid the pitfalls of companies that ultimately fail?

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