The Warriors have followed their title-winning campaign by equalling a league record with a 15-0 start to the new season.
Riley believes that their form is proof more success is on the way for the franchise, and that rival teams will find it tough to stop Stephen Curry and his teammates.
"They are in the beginning of something that can be dynastic," Riley, who won five titles as a coach, told reporters.
"They're in the beginning stages of it, and that's the scary part, versus somebody that catches lightning in a bottle one time. They're at the beginning because all of their key players, all of them, are young and they're talented. The ones that aren't have what I call 'youth age,' like Andre Iguodala, Andrew Bogut, Shaun Livingston - those guys bring an element to the team is incredible."
Warriors will be aiming to extend their winning run when they meet the Los Angeles Lakers on Tuesday night.