Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Michael Seibel, CEO of YC, is doing an AMA

news.ycombinator.com

Post reply on HN
Print view View original

141–150 of 317 posts

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

#141

Post by jayjay71 »

ptero wrote: post #91

Can you provide some info on how does YC support hardware startups? More specifically, what is a good stage to apply? We are working on building a demo-quality HW prototype, with the ETA of ~6months. That means we will not be focused on growth, but on tech development. Should we wait until we have a working system and apply to YC when we are ready to scale and grow it (this is our current thought).

Obviously you should listen to Michael over me, but as a former YC founder with a robotics startup I agree that you should probably wait until you're more focused on growth than prototyping.

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

#142

Post by mwseibel »

ankitsoni wrote: post #23

Hey Michael, Thanks for the AMA. How do you approach an application when you have no domain knowledge of the field in which the startup is working in?

That is a great question! First I look at how clearly the founders communicate their idea and their insights. When someone has a truly deep understanding of their domain, they are able to explain it to intelligent people from any background.

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

#143

Post by rnprince »

Hi - Thank you for doing an AMA.

One factor when evaluating startups is how long it will take to get everything ready. Some can launch in a month, but some depend on breakthroughs or environment shifts that will take a decade to happen.

Is there a Goldilocks zone that lends itself to better outcomes? How far into the future is too far?

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

#144

Post by mwseibel »

awwstn wrote: post #86

In what ways have your criteria for selecting great startups changed or evolved over the past 5 years? (either your criteria personally or YC's general criteria)

I don't think the criteria has changed much. I think personally I've had to learn not to get caught up by pet ideas. It is easy to ignore obvious red flags when you read an application where you would love to be a user.

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

#145

Post by narrowrail »

ptero wrote: post #91

Can you provide some info on how does YC support hardware startups? More specifically, what is a good stage to apply? We are working on building a demo-quality HW prototype, with the ETA of ~6months. That means we will not be focused on growth, but on tech development. Should we wait until we have a working system and apply to YC when we are ready to scale and grow it (this is our current thought).

I've never had direct affiliation with YC at all, but I'd check this out:

http://blog.ycombinator.com/yc-for-hardware

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

#147

Post by tyre »

bsvalley wrote: post #100
Lordarminius wrote: post #95

Earlier quoted context omitted.

Founders spend the money in any way they choose. Its stated on the site.

Is it allocated on day one? Full amount? Or gradually throughout the 3 month batch?

All at once. Timing of the payment is based on how long it takes to fill out the paperwork, which is highly variable based on company structure, maturity, organization, etc.

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

#148

Post by JamilD »

d--b wrote: post #140

Hi again Michael, another quick one for you: how important is charisma to be a succesful founder? Do you think YC's application process is skewed towards accepting people who are great at talking?

I've been wondering this too. Many people I know are avoiding the YC/startup scene because it seems to be for the "cool" kids who know how to talk their way through something, and not those who are actually technically competent.

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

#149

Post by rgbrgb »

ikeboy wrote: post #102

I haven't worked on the idea/MVP I applied with last time, instead working on scaling my existing business. Last time I didn't get an interview. Is there a point in applying again with the same idea? The only thing that would have changed is that my other business, listed as an accomplishment, is now 5 times as successful. (In the 350k range vs 70k.) I was also thinking of applying with that business, but it's not re…

We got in on our second try with the same idea :). I think it's a good sign if you stuck with it and got some traction. We had even written this (embarrassing) medium post on how not getting in was a good thing: https://medium.com/@Open_Listings/what-we-learned-from-yc-su...

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

#150

Post by ojosilva »

mwseibel wrote: post #63
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…

> 4) Did the founders have a personal or professional relationship before deciding to start the company together?

As I understand this is desirable, right? I wonder if there are any good successful stories of newly-acquainted, "JIT" founders? How about data that supports that being friends or colleagues equals success and greater valuations?

My instinct tells me that a previous relationship is probably a good predictor of success. But it's always good to rely on hard data to avoid any correlational fallacies.

Post reply on HN