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Startups that launched at Y Combinator S16 Demo Day 2

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Re: Startups that launched at Y Combinator S16 Demo Day 2

#81

Post by will_brown »

somenomadicguy wrote: post #46

Legalist just makes me sad, but I guess there's nothing more American than suing for absolutely anything. It's like the founders were looking for a business model that was even more parasitic than patent squatting. As a nomad, airfordable is the best of the bunch to me. It almost balances out the karma of Legalist.

I knew someone would take the dim view of this startup. Though it is very easy to look at the other side of the coin, or $40B of liability that just washes under the bride because the damaged parties don't have access/can't afford a lawyer.

What if you had a parent, sibling, spouse suffer a serious injury, would you not help them financially if you could and they needed it? Would you refuse to be paid back out of their settlement, because that would be parasitic? You do realize it is against Legalist's, Thiel's or anyone else interest to support bad or worse false claims, because they can and will actually lose money right? I think for whatever reason, people like to believe the legal system is a a lot more dysfunctional than it truly is, example, that Thiel conjured up Hogan's lawsuit, that but for Thiel's money being involved there would be no damages, when the truth is Thiel provided financing and likely got an economic interest in the final judgment/settlement but he still had zero influence on the case itself.

It is on par with taking an extremist approach to doctors and medicine..."nothing more American than saving a life, as long as you have good insurance or can pay cash up front."

Re: Startups that launched at Y Combinator S16 Demo Day 2

#82

Post by somenomadicguy »

3pt14159 wrote: post #75
somenomadicguy wrote: post #46

Legalist just makes me sad, but I guess there's nothing more American than suing for absolutely anything. It's like the founders were looking for a business model that was even more parasitic than patent squatting. As a nomad, airfordable is the best of the bunch to me. It almost balances out the karma of Legalist.

You think their parasites because you don't trust the American judicial system. That is fair, but the fundamental nature of what Legalist does is actually quite good. Justice shouldn't be denied to someone just because they can't afford to afford the legal fees. Sure, lawyers can take clients on contingency, but they are often cash-poor because law school is expensive, so the rate of return needs to be much higher to…

Perhaps I'm just too cynical in my old age, this feels like at best it is about turning the legal system into a market opportunity, not seeking justice. At worst it can be a tool, as with the Thiel case, to profit off of exacting revenge. There is no market opportunity for investors to join in on a defense.

The timing seems to be an opportunistic response to the Gawker lawsuit. Thiel has validated this sort of a marketplace, and being who he is, it's caught the attention of our opportunistic, objectivist start-up community.Of course the next step is to make this sort of market opportunity accessible to less wealthy investors. Version 2 will be crowdsourced for-profit lawsuits. 5,000 people each invest $2k in a lawsuit against Facebook and see a 1400% return in two years.

I feel that this is a direct result of Thiel validating this marketplace, so let me respond to your "If" argument with my own.

If Peter Thiel weren't a cult of personality type associated with our community, but rather he were the CEO of Fox News, Donald Trump, or Martin Shkreli, he would have been absolutely demonized in the HN! community.

We are going down a slippery slope that can use "might is right" to destroy competition, freedom of the press, and freedom of speech. You should see what this same mentality has done to the business world and to the press here in Türkiye.

Class-action lawsuits are already the protection of the poor against mercury poisoning, done on contingency by lawyers who stand to reap huge profits. Now this takes the risk away from the lawyers and turns that risk into a high profit opportunity for a smaller subset of investors.

Re: Startups that launched at Y Combinator S16 Demo Day 2

#83

Post by niccolop »

sidlls wrote: post #27
tyre wrote: post #24

Earlier quoted context omitted.

This is a good question, and, as a YC founder presenting today, I can give an answer. "Seed" has shifted. In the early days of YC, you came in with an idea and tried to build something people want. Note that it is called "Demo Day", because you would literally demo your product. Today, it's just so much easier to start a company. You can try out an idea in a weekend, so the 3-month program of YC is focused on growth.…

Surely you're exaggerating. You can create a toy program or even a very basic (most likely web-based application) that solves some problem in a weekend, but there really are very few lucrative companies or ideas that can be accurately "tried out" in a single weekend. If these companies are "seed" stage companies, then I'd argue it isn't that any bar has been raised, but that "seed" has come to mean something entirely…

I think he's only making the point that it's relatively easy to bash out something that looks like a product, do a release on several online forums and have a 'startup'. It's quite something different to have built a business, that is now ready for hyper-growth; and that's probably where YC can help a great deal.

I think seed stage is more loosely defined. Or can you only raise seed capital when you are 2 people hacking in a room on a web app?

Re: Startups that launched at Y Combinator S16 Demo Day 2

#84

Post by somenomadicguy »

will_brown wrote: post #81
somenomadicguy wrote: post #46

Legalist just makes me sad, but I guess there's nothing more American than suing for absolutely anything. It's like the founders were looking for a business model that was even more parasitic than patent squatting. As a nomad, airfordable is the best of the bunch to me. It almost balances out the karma of Legalist.

I knew someone would take the dim view of this startup. Though it is very easy to look at the other side of the coin, or $40B of liability that just washes under the bride because the damaged parties don't have access/can't afford a lawyer. What if you had a parent, sibling, spouse suffer a serious injury, would you not help them financially if you could and they needed it? Would you refuse to be paid back out of the…

"when the truth is Thiel provided financing and likely got an economic interest in the final judgment/settlement but he still had zero influence on the case itself"

Zero influence? Wasn't his $10m incredibly influential?

Re: Startups that launched at Y Combinator S16 Demo Day 2

#85

Post by BinaryIdiot »

snovv_crash wrote: post #62
BinaryIdiot wrote: post #56

Earlier quoted context omitted.

> This is a physical threat (in the terrorist scenario) that needs to be dealt with kinetically. While I completely agree with you I'm curious if the pricing has come down on powerful lasers as I could see it being more economical to simply burn the rogue drones out of the sky. It would make re-targeting much faster and less of a need to keep kinetic...material on hand.

So then the terrorist coats their drone in foil, and instead you are blinding anybody who looks at the drone when you fire. No, kinetic or nets is much better.

> So then the terrorist coats their drone in foil, and instead you are blinding anybody who looks at the drone when you fire.

Many of the laser systems the military have been working with are not in the visual spectrum and foil would not simply reflect it. Otherwise the majority of our anti missile systems that use lasers would be thwarted by a simple foil coating.

> No, kinetic or nets is much better.

All depends on the goal. A quick burnout with a laser which has no reload time and can hit targets in a near instant is highly valuable in anti missile systems; I don't see why this couldn't be applied in an anti drone fashion as well. Kinetics will serve to obliterate which is better as far as falling debris goes; might be useful to have a combination of both in case you have to fend off a larger than expected amount of drones.

Re: Startups that launched at Y Combinator S16 Demo Day 2

#86

Post by garry »

losteverything wrote: post #76
eitally wrote: post #73

Earlier quoted context omitted.

Vet care is not remotely expensive (compared to human medical care, which is completely outrageous). Vets are required to have the same amount of training as MDs (BS + 4yr DVM + Internship + Residency + optional further specialization training & fellowships), yet the starting salaries are in the $100k range. I'd argue that $3-5k for a major surgery is good value. The problem is insurance companies. By shifting the pa…

Absolutely false if one has to worry about money. Insurance is a puny percentage at the practice I know and the hundreds of pet owners I chat with daily. Usually the cost is sticker shock especially for Specialized Care and there is no alternative. People do not expect to have bills of $500, $1,000, $1,500 and more for routine things. [ The surgeon charges $8 a minute ]

That you guys are discussing veterinary care and insurance shows that you don't actually know what Vetcove does. They actually are a B2B marketplace for veterinary supplies used by vet clinics. Consumers don't use it at all, and it certainly has nothing to with pet insurance. It saves clinics a lot of money already.

A reminder that it's fun to comment from the armchair, but you should at least learn what the business actually is before you do.

Re: Startups that launched at Y Combinator S16 Demo Day 2

#87

Post by losteverything »

garry wrote: post #86
losteverything wrote: post #76

Earlier quoted context omitted.

Absolutely false if one has to worry about money. Insurance is a puny percentage at the practice I know and the hundreds of pet owners I chat with daily. Usually the cost is sticker shock especially for Specialized Care and there is no alternative. People do not expect to have bills of $500, $1,000, $1,500 and more for routine things. [ The surgeon charges $8 a minute ]

That you guys are discussing veterinary care and insurance shows that you don't actually know what Vetcove does. They actually are a B2B marketplace for veterinary supplies used by vet clinics. Consumers don't use it at all, and it certainly has nothing to with pet insurance. It saves clinics a lot of money already. A reminder that it's fun to comment from the armchair, but you should at least learn what the business…

When I typed "centralize" I implied it was b2b. I wish you well.

The vet I know in the top 10 income (county level usa) thrives on markups.

When someone says costs are affordable for the average pet owner I have to speak up. So I assumed your startup would not have a large impact on downward prices since its b2b. In fact it may increase overall vet profit and do little for the average cost of a uti treatment, for example.

I commented because I have a direct interest in this business.

Re: Startups that launched at Y Combinator S16 Demo Day 2

#88

Post by will_brown »

somenomadicguy wrote: post #84
will_brown wrote: post #81

Earlier quoted context omitted.

I knew someone would take the dim view of this startup. Though it is very easy to look at the other side of the coin, or $40B of liability that just washes under the bride because the damaged parties don't have access/can't afford a lawyer. What if you had a parent, sibling, spouse suffer a serious injury, would you not help them financially if you could and they needed it? Would you refuse to be paid back out of the…

"when the truth is Thiel provided financing and likely got an economic interest in the final judgment/settlement but he still had zero influence on the case itself" Zero influence? Wasn't his $10m incredibly influential?

No, at any point "Hogan" could have settled his case instead of take it to trial. Thiel did not have any influence over litigation decisions (accept settlement vs go to trial), just as Legalist would have zero influence over litigation decisions.

Alternatively, besides speculation Thiel had influence, in the face of Rules of Professional Responsibility that would result in the disbarrment of "Hogan's" lawyers, explain the exact influence Thiel had that interfered with "Hogan's" attorney-client relationship. Specifically, how would the case have been any different if Thiel did not finance some or part of the litigation and how would it have been different if a bank, with no history with Gawker, financed some or all of the litigation?

Re: Startups that launched at Y Combinator S16 Demo Day 2

#89

Post by probe »

What's really interesting about this batch (and previous two) is this new blend between digital and physical.

In the decade of the 2000s, the big companies that succeeded were all software/web in nature - with Google, FB, LNKD, TWTR, etc. you engaged with them solely on the screen and their revenues derived primarily from advertising and taking advantage of your eyeballs.

If you look at the new monopolies in the first half of this decade (ex. Uber, Airbnb, Palantir, etc.) they're bleeding into the physical world and providing value in a very tangible way (ex. literally moving you from point A to point B). It's no surprise that many of them are staying private for even longer; physical problems require human engagement and it's just a harder problem that requires more attention.

I believe a lot of startups, investors, and partners have subconsciously realized this and now see the potential that new technology has in impacting the physical world through digital portals and digital means. Expect this trend to continue.

Re: Startups that launched at Y Combinator S16 Demo Day 2

#90

Post by somenomadicguy »

will_brown wrote: post #88
somenomadicguy wrote: post #84

Earlier quoted context omitted.

"when the truth is Thiel provided financing and likely got an economic interest in the final judgment/settlement but he still had zero influence on the case itself" Zero influence? Wasn't his $10m incredibly influential?

No, at any point "Hogan" could have settled his case instead of take it to trial. Thiel did not have any influence over litigation decisions (accept settlement vs go to trial), just as Legalist would have zero influence over litigation decisions. Alternatively, besides speculation Thiel had influence, in the face of Rules of Professional Responsibility that would result in the disbarrment of "Hogan's" lawyers, explai…

Quite simply, a bank would have done a risk analysis and quickly pushed for a settlement, whereas Thiel was motivate by hatred, and the kind of entitlement which comes from power and wealth. He was to happy to carry all the risk and let Hogan reap the rewards give the reward to Hulk out of pure hatred for Nick Denton. Decision makers at banks always report to somebody. Thiel knows that being a billionaire means that he doesn't have to justify his actions to anybody.
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