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Michael Seibel, CEO of YC, is doing an AMA

news.ycombinator.com

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Re: Michael Seibel, CEO of YC, is doing an AMA

#61

Post by mchakravarti7 »

Hi Michael, thanks for the AMA. When you evaluate an early stage biotech startup, what would you say is the most important thing that you look for? - clinically validated products, or a solid long term business model?

With Trump picking Scott Gottlieb to be the next FDA commissioner, the FDA approval process is expected to get more lenient. Would you say that YC (or investors in general) would be open to take more risks with high tech startups that do not have a clinically validated product as of now?

One more question - Given that the FDA process takes a lot of time, quite a few biotech companies often get acquired or merged with bigger companies that can afford to do so, without ever having actually gotten their product out on the market. Would you say that you look at the company's potential return in that sense when you evaluate startups? I'm not entirely sure if this question makes sense, so let me know if you want me to clarify!

Re: Michael Seibel, CEO of YC, is doing an AMA

#62

Post by gist »

mwseibel wrote: post #15
quan wrote: post #5

What happened to pg, is he still involved in YC day to day operation or the application process?

(edited for tone) PG and Jessica are currently on sabbatical in the UK - after running YC for 10+ years they are taking a little break spend more time with their kids

> after running YC for 10+ years they deserve a little break no?

With all due respect what is so special about running YC that means you deserve a sabbatical?

They are taking a sabbatical not because they deserve it but because they can afford to do so financially and have left their organization in what they feel are very capable hands.

It is actually atypical in most professions in the US (at least outside of teaching or academics) to be able to step away other than for a somewhat short vacation. And business? It moves to fast and the competition is most likely hard at work step away and someone else is there to take your place.

Hats off to them for creating an organization where they can do this but most people who are in either traditional businesses or professions (medicine, law as only two examples) can't do something like this.

Edit: Predictable downvotes. Everyone looks at this through a lens that says the commenter surely is showing disrespect or lack of knowledge for how special YC is.

Edit2: Noting that it has been edited for tone so...

Re: Michael Seibel, CEO of YC, is doing an AMA

#63

Post by mwseibel »

traviswingo wrote: post #40

Hey Michael, thanks for this - should be a real eye opener! Q: What are some of the top weighing attributes you're looking at for companies applying today, and how heavy (1-10 scale) would you say they count towards an acceptance decision. I'm envisioning a "credit score" for application.

The top 5 things I look for in an application are (in no particular order): 1) Can the team clearly communicate what they are working on? 2) Does the team have the technical talent to build and grow the v1 of their product? 3) Is the team moving quickly or are they waiting for approval from YC? 4) Did the founders have a personal or professional relationship before deciding to start the company together? 5) Does the team understand something about their space that is controversial or non-obvious?

Re: Michael Seibel, CEO of YC, is doing an AMA

#64

Post by mwseibel »

quan wrote: post #48
mwseibel wrote: post #15

Earlier quoted context omitted.

(edited for tone) PG and Jessica are currently on sabbatical in the UK - after running YC for 10+ years they are taking a little break spend more time with their kids

Yes absolutely, I'm only curious because his essays inspire me to think differently about work and attracted me to this community. Thanks for your answer

Same here - thanks for the question :)

Re: Michael Seibel, CEO of YC, is doing an AMA

#69

Post by jboogie77 »

gist wrote: post #62
mwseibel wrote: post #15

Earlier quoted context omitted.

(edited for tone) PG and Jessica are currently on sabbatical in the UK - after running YC for 10+ years they are taking a little break spend more time with their kids

> after running YC for 10+ years they deserve a little break no? With all due respect what is so special about running YC that means you deserve a sabbatical? They are taking a sabbatical not because they deserve it but because they can afford to do so financially and have left their organization in what they feel are very capable hands. It is actually atypical in most professions in the US (at least outside of teach…

you jelly?

Re: Michael Seibel, CEO of YC, is doing an AMA

#70

Post by mwseibel »

refrigerator wrote: post #47

What do you think of teams that are working part-time (e.g. while in full time education/employment) on an idea with decent traction, but who are waiting for external validation (such as YC or other investment) before going full-time on it? Do you take it as a sign of low commitment?

I would say figure out what milestone in your business would convince you to go all in and strive for it. Your goal shouldn't be external validation. I know of no investor who is smart enough to tell with 100% accuracy whether you are working on a great idea or not.
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