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What Founders Ask Founders About Getting into Y Combinator

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Re: What Founders Ask Founders About Getting into Y Combinator

#31

Post by jaypaulynice »

jkarneges wrote: post #19

Most people I know that are interested in starting a company need help near the beginning, within 6-12 months of setting out on their own. Almost always pre-revenue, and very early traction (if b2b, maybe just a few users evaluating). Where are these kinds of entrepreneurs supposed to go? Is it still YC, when they have to compete with already-successful applicants? Kudos to GitLab bootstrapping to $1M ARR though. Tha…

I've thought the same as well...it's an opportunity for someone to invest in early stage startups. It's not just YC that's changed. Pretty much all the accelerators have decreased their risks.

Re: What Founders Ask Founders About Getting into Y Combinator

#33

Post by mellavora »

sytse wrote: post #23
jnpatel wrote: post #18

Earlier quoted context omitted.

Sid, willing to meet with us too? It'd be very appreciated! (I totally understand you can't do this for everyone who'll ask.) P.S. I'm also open to a peer feedback session for anyone else applying!

I'd be happy to. Shall we make it a video call other people can join too? Tomorrow, Saturday, at 11:00 Pacific? I'll be in https://gitlab.zoom.us/j/351494573 at that time for anyone that can discuss their application publicly. If you attend please comment so, if you can't also comment so we can try to find an alternative. By the way, I'm a YC participant and not a YC partner. I don't speak for YC and I'm just trying…

Sure, I might show up.

Re: What Founders Ask Founders About Getting into Y Combinator

#34

Post by sytse »

jnpatel wrote: post #30
sytse wrote: post #23

Earlier quoted context omitted.

I'd be happy to. Shall we make it a video call other people can join too? Tomorrow, Saturday, at 11:00 Pacific? I'll be in https://gitlab.zoom.us/j/351494573 at that time for anyone that can discuss their application publicly. If you attend please comment so, if you can't also comment so we can try to find an alternative. By the way, I'm a YC participant and not a YC partner. I don't speak for YC and I'm just trying…

Sounds great, looking forward to chatting with you and others!

Great, looking forward to it too.

Re: What Founders Ask Founders About Getting into Y Combinator

#35

Post by sytse »

mellavora wrote: post #33
sytse wrote: post #23

Earlier quoted context omitted.

I'd be happy to. Shall we make it a video call other people can join too? Tomorrow, Saturday, at 11:00 Pacific? I'll be in https://gitlab.zoom.us/j/351494573 at that time for anyone that can discuss their application publicly. If you attend please comment so, if you can't also comment so we can try to find an alternative. By the way, I'm a YC participant and not a YC partner. I don't speak for YC and I'm just trying…

Sure, I might show up.

Cool, I'll be there.

Re: What Founders Ask Founders About Getting into Y Combinator

#36

Post by mellavora »

jnpatel wrote: post #30
sytse wrote: post #23

Earlier quoted context omitted.

I'd be happy to. Shall we make it a video call other people can join too? Tomorrow, Saturday, at 11:00 Pacific? I'll be in https://gitlab.zoom.us/j/351494573 at that time for anyone that can discuss their application publicly. If you attend please comment so, if you can't also comment so we can try to find an alternative. By the way, I'm a YC participant and not a YC partner. I don't speak for YC and I'm just trying…

Sounds great, looking forward to chatting with you and others!

wildfire looks kindof cool.

Re: What Founders Ask Founders About Getting into Y Combinator

#37

Post by sytse »

tlogan wrote: post #29
jkarneges wrote: post #19

Most people I know that are interested in starting a company need help near the beginning, within 6-12 months of setting out on their own. Almost always pre-revenue, and very early traction (if b2b, maybe just a few users evaluating). Where are these kinds of entrepreneurs supposed to go? Is it still YC, when they have to compete with already-successful applicants? Kudos to GitLab bootstrapping to $1M ARR though. Tha…

My understanding is that YC combinator is either for companies which already made it and any VC would love to invest (like GitLab) or they are in very early stage (pre-revenue). If your company is so so (i.e., you are making money but growth is anemic, etc.) then YC is not for you. But you can always close the company and start a new one and apply to YC. At least that is my understanding and experience.

Growth is important because it is what separates a start-up from other companies http://www.paulgraham.com/growth.html

But YC knows very well that there can be many reasons for slow growth. Many times easy to make changes can have big effects on product/market fit and growth rate. And YC is great at helping with that. So don't be afraid to apply even with flattening growth, it is called an accelerator for a reason.

Re: What Founders Ask Founders About Getting into Y Combinator

#38

Post by [deleted] »

vbhartia wrote: post #22
sytse wrote: post #20

Earlier quoted context omitted.

Thanks! We never had second thoughts about YC. We did talk a lot during YC if we wanted to take outside investment. If you take investment you need to work to a liquidity event (acquisition or IPO). Since we would like to stay independent the only option is an IPO. Not many companies make make that. But we also wanted to make GitLab a great and popular solution. For this we need the best marketing and sales people. W…

Got it. Thanks! How did you think about the standard terms - 7% of your company for 120k. Seems like you would've had a higher valuation already, so 7% would have been costly. Feel free to not reply, I understand if you can't disclose terms.

[deleted]

Re: What Founders Ask Founders About Getting into Y Combinator

#39

Post by dvdhsu »

sytse wrote: post #4
jontonsoup wrote: post #3

Earlier quoted context omitted.

Will you read over my application? Would love feedback!

Yes, please coordinate with kirsten@gitlab.com for a 25 minute Google Hangout with me, please link to this comment in your email to her. If the advice is generic enough we might work with you to publish it https://about.gitlab.com/handbook/people-operations/ceo-pref... (you have a final say in what gets published). This process was also used to produce the OP.

Sid, are you willing to meet with us quickly too? It would be greatly appreciated.

Thanks!

Re: What Founders Ask Founders About Getting into Y Combinator

#40

Post by sytse »

mellavora wrote: post #36
jnpatel wrote: post #30

Earlier quoted context omitted.

Sounds great, looking forward to chatting with you and others!

wildfire looks kindof cool.

Yeah, jnpatel (Jay's) app http://www.wildfireapp.io/ does look cool. I wonder how they get the data for that.
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