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Should We Do Y Combinator? We're further along than most

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Re: Should We Do Y Combinator? We're further along than most

#11

Post by rriepe »

ludicast wrote: post #8

Great article. I wouldn't consider YC until they let you stay in NYC (would cost me too much to leave in terms of present business (get on this Alexis (the East doesn't need an ambassador but rather an embassy))), but the % valuations they give are truly a drop in the bucket. Yes companies get "screwed" by YC's initial valuation but in the long run it works out great for them. The demo-day investments, as well as the…

The Valley is already expensive enough! Although "NYCYC" is a fun acronym. I think Techstars just started up in NYC-- check them out.

YC says they aren't an incubator. I think they're more like the eggshell. Seems silly at later stages maybe, but developmentally crucial.

Re: Should We Do Y Combinator? We're further along than most

#12

Post by pbiggar »

rriepe wrote: post #2

I like YC as much as the next guy, but here's an important question: Why have we never seen a blog post saying that it's not worth it? Even if YC has an extremely high satisfaction rate, the sheer number of startups they've funded has to have left at least one with a bad taste in their mouth. I love hearing feedback like this and I almost never get tired of reading this article (especially when it has a good spin to…

> Why have we never seen a blog post saying that it's not worth it?

Because it's worth it.

I know some folks who are not-extremely-satisfied with YC, but even then they were mostly-satisfied.

Re: Should We Do Y Combinator? We're further along than most

#13

Post by pbiggar »

rriepe wrote: post #9
pg wrote: post #4

Earlier quoted context omitted.

Actually it's possible to say when it wouldn't be worth it: http://paulgraham.com/equity.html I think the reason we don't often hear about borderline cases is that the market is truncated at the high end by later stage investors, who wouldn't allow the startups they'd funded to participate in YC even if they'd be net ahead as a result. I.e. I've seen more than one series A funded startup that we could have helped suf…

Most who decide it's not worth it would (or rather, should) do so ahead of time. I see. Still, give a free car to a hundred people and at least one will complain about the color of the interior. There's gotta be a sour YC alumnni out there somewhere. Even if he has no right blaming YC, I'd still like to hear his side of the story.

FWIW, I failed at YC (in that my company failed after doing YC). Here's my account: http://blog.paulbiggar.com/archive/why-we-shut-newstilt-down.... The relevant YC part:

> YC had consulted and advised us every step of the way. When we had co-founder problems, they gracefully refused to take sides. When we wanted to make a new product, they advised us not to proceed without co-founders, and that we’d need to move to Silicon Valley to be fair to those co-founders. And finally, they didn’t expect a cent back, telling us to give all the money back to our later investors. Not once in my whole time at YC did I believe that they valued their investment more than they valued us, and they were OK with us closing down. YC is a class act.

Re: Should We Do Y Combinator? We're further along than most

#14

Post by qixxiq »

I'm in a similar position to what he described, although have a huge problem in that we're down in South Africa.

We made it through to the interview round, and then declined when pg made the call that we'd have to interview in person (up until then we were certain video conference would be alright).

I am starting to debate my choice, but since we don't really need the program, a $3000 trip to the US for something we might not get into seems a little silly; but at the same time - that cost is nothing in the grand scheme of things.

Re: Should We Do Y Combinator? We're further along than most

#15

Post by dariusmonsef »

qixxiq wrote: post #14

I'm in a similar position to what he described, although have a huge problem in that we're down in South Africa. We made it through to the interview round, and then declined when pg made the call that we'd have to interview in person (up until then we were certain video conference would be alright). I am starting to debate my choice, but since we don't really need the program, a $3000 trip to the US for something we…

For next time... You could have also used the time to: A. Network your face off while in SF. Set up meetings with everybody you can. Investors if you're trying to raise. Other startups, hackers, etc. B. Take a short vacation. I'm sure you deserve it.

Re: Should We Do Y Combinator? We're further along than most

#16

Post by qixxiq »

dariusmonsef wrote: post #15
qixxiq wrote: post #14

I'm in a similar position to what he described, although have a huge problem in that we're down in South Africa. We made it through to the interview round, and then declined when pg made the call that we'd have to interview in person (up until then we were certain video conference would be alright). I am starting to debate my choice, but since we don't really need the program, a $3000 trip to the US for something we…

For next time... You could have also used the time to: A. Network your face off while in SF. Set up meetings with everybody you can. Investors if you're trying to raise. Other startups, hackers, etc. B. Take a short vacation. I'm sure you deserve it.

At the moment we have too much going on here to consider any of that, especially if we planned on moving to the US for three months come January.

I could fly up mid-December if YC would be willing to let me pitch then (and then stay on if we make it), but I'm presuming thats not the best time to network -- if there is a good time.

Re: Should We Do Y Combinator? We're further along than most

#17

Post by chesser »

rriepe wrote: post #2

I like YC as much as the next guy, but here's an important question: Why have we never seen a blog post saying that it's not worth it? Even if YC has an extremely high satisfaction rate, the sheer number of startups they've funded has to have left at least one with a bad taste in their mouth. I love hearing feedback like this and I almost never get tired of reading this article (especially when it has a good spin to…

> Why have we never seen a blog post saying that it's not worth it?

I can think of some reasons.

1) If your company doesn't make it, then you got investment and owe nothing, so complaining seems a little silly.

2) If your company DOES make it, chances are it's because of introductions via YC networking. If you somehow got funded and it wasn't YC-related, YC didn't hurt.

3) It's a self-selected group. There are those that are NOT a good fit for YC, and they don't apply in the first place.

4) Other-selection. Maybe YC only picks people who seem to have drunk all the kool-aid already.

5) Even if you felt screwed over, badmouthing YC would likely burn bridges. So it would just compound your problems.

6) Would a dissenting opinion be trumpeted or quashed by the editors here? Not being aware of any examples doesn't mean they aren't out there.

7) People don't want to do postmortems on their failures in general, and blaming others is generally seen as bad form, even if they really ARE to blame.

8) Brainwashing. Even people who join street gangs would almost never blame them for messing up the member's life. It becomes an in-group identity. YC ain't no street gang, and the social ties alone can be a huge thing for people who otherwise feel quite isolated, even if YC per se isn't their cup of tea.

9) There are so many difficulties that a million other things are more likely to screw up a startup than anything YC does.

10) Since focus is key, if YC gets you to focus obsessively for 3 months, that alone probably outweighs any negatives that may pop up. If your personal trainer or drill sergeant whips you into shape, then you got in shape, even if you think the process wasn't 100% optimal. The real tiger beats the paper one.

A big part of it is just psychologically "giving yourself permission" to make something THE priority. If you are doing a formal program, WITH A TIME LIMIT, friends and family understand that in a way they don't understand you just doing it by yourself, and won't bother you with distractions. And due to social conditioning, you have a LOT of psychological tweaks making YOU prioritize your own project over surfing and wasting time.

Note every term how few comments there are on this site from people doing the program. They don't have time to read "OMG Steve Jobs replied to my e-mail" and "37 ways I am better than you" posts or argue about them.

Re: Should We Do Y Combinator? We're further along than most

#19

Post by ig1 »

random42 wrote: post #3
rriepe wrote: post #2

I like YC as much as the next guy, but here's an important question: Why have we never seen a blog post saying that it's not worth it? Even if YC has an extremely high satisfaction rate, the sheer number of startups they've funded has to have left at least one with a bad taste in their mouth. I love hearing feedback like this and I almost never get tired of reading this article (especially when it has a good spin to…

Because people do not criticize the alma-mater and mentor, especially as influential as, YC (and by extension PG) in public.

Doesn't seem to have stopped people criticizing VC firms.
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