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Michael Seibel, CEO of YC, is doing an AMA

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

#161
post #52

Earlier quoted context omitted.

Expanding, what do you think about team that are working part-time while working to develop MRR that would make them ramen profitable? How negative of a signal is that?

I think that if you are bootstrapping cause you need to in order to pay the bills then that is totally fine. If you can work full-time on your startup and your are aren't - you should ask yourself why.

Thanks- that's what I thought, but I wasn't sure.

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

#162
post #84

What are some of the more well known YC companies of the previous 3 years? Some posterchilds like Dropbox and AirBnB were a few more years ago. (from traditional IT category, not FinTech, etc)

In no particular order here is a small subset of YC companies from 2-3 years ago that I bet will become household names in the next 2-3 years: Theorem, Algolia, Bellabeat, Flexport, Cruise (I guess a lot of people know about these guys already), Gobble, Front, Ginko Bioworks, Rigetti, Checkr, RazorPay, WayUp, Gitlab, Lob, Remix, TripleByte, Lugg, Jopwell, Gigster, and GiveCampus.

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

#163
post #149
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...

I didn't work on it at all because I was doing better with my other, boring business.

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

#164
post #119
post #75

Earlier quoted context omitted.

Surely he just means a break from YC. And running YC was a job that required always being "on-call" in the early days.

"on call"? Plenty of businesses require the entrepreneur to be 'on call'.

Plenty of businesses require non-entrepreneurs to be on call too.

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

#165
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 am on your same boat. We been working for the past year to get the HW prototype build and at a stage where we can demo it. We are still around 6 months on finishing but lack of funding and advice would definitely accelerate our progress. (Paying for assembled boards instead of hand building each as a example of how it would make it faster.)

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

#166
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).

You want to join YC because you want the money and investors, but your product isn't ready yet so what's the money for? If you only need to pay your own living costs and small development costs for R&D, maybe you should look for an angel investor and a pre-seed round.

Speaking of, there's a void in the VC market for funds that invest in the R&D stage like this.

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

#168
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 don't think it's important at all. PG has a saying that good founders become more formidable during their time at YC. Also, demo day prep and fundraising is pretty intense at YC so most founders get much better at talking about their startups after going through the program. That might explain the signal you are seeing.

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

#169
post #113

Hi Michael, Is YC actively looking for partners with hardware startup experience? Correct me if I am wrong currently YC doesn't have any. The only one I recall is Luke Iseman (great guy) that left this year (currently a YC alumni). thanks for taking the time to reply.

Luke is actually in the current YC batch. There will be a YC alum working with hardware companies in the next batch - announcement coming in the next month or so.

$100 says it is Eric Migicovsky

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

#170
post #157

Sam Altman wrote about the current make up of YC founders based on their gender and ethnicity. If I recruit two co-founders of color and one woman primarily for the purpose of getting into YC is that shunned upon?

I would recruit founders you have had either a personal or professional relationship with and who you think you would want to work with for 10 years.
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