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YC partners explain how early-stage startups commonly waste money on hiring, marketing, PR agencies, lawyers, and paid advisors. They warn that expensive hires, contractors, and advertising can mask problems without building the company’s own capabilities or understanding. They recommend testing ideas cheaply, doing the work yourself first, and spending to scale only after product-market fit. They also share practical advice on legal fees and suggest asking would-be advisors to invest instead of granting them equity.