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We tried to hustle our way into YC after we got rejected

veed.io

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Re: We tried to hustle our way into YC after we got rejected

#81
post #8

missiveapp.com and conferenceBadge.com, my two startups, have both been rejected at the interview phase. Our yearly revenue for both now stands in the 7 digits. We are still just a team of 3 + 1 employee, 100% bootstrapped. Life is good. My advice, keep pushing! https://missiveapp.com/ https://www.conferencebadge.com

I have a suggestion: add support for dual-clip lanyards[1]. I've always found the single-clip lanyards annoying: they flop around and get twisted. I went to a conference this spring that had lanyards that clipped to both top corners of the badge, and it was significantly less annoying. [1] For example: https://www.marcopromos.com/product/3-4-cotton-no-flip-lanya...

In the last few conferences with single-clip lanyards, I started noticing the badges' orientation. I would expect them to be roughly 50% front, 50% back, but significantly more badges were oriented so that the back was showing, which surprised me.

I guess it's the same kind of magic that makes the USB port always be the wrong orientation, then you flip it and it's wrong again, and it's only right after you flip it twice.

Re: We tried to hustle our way into YC after we got rejected

#82

Earlier quoted context omitted.

so, it took anna 10 hours, and lets assume anna gets paid 25 dollars an hour, so a cost of 250 dollars. Shelley, used the conference badge, and at 1.79 for the fully shipped version of the badge, it will cost 582 dollars. So, essentially, Shelley paid 332 dollars for QR codes and convenience. Is it worth it? probably. but maybe not.

I think this depends on one-off vs long term. If this group is going to be doing 2~3 conferences a year, learning how to print labels yourself or is valuable skill. You might even have a designer on your team that could work with a local print shop (allowing a personal relationship and even last minute badges so you're not handwriting last minute speakers). There's a one time cost of learning all that stuff, and then…

I organise conferences as a hobby, and I've been manually doing mail merge on badges for the past few years.

It takes me anywhere between 5–15 minutes to set things up, and my biggest annoyance throughout the process is dealing with CSV character encodings.

I think the main value the service provides is that it provides "guaranteed" next-day delivery. My print shop gives me a fair amount of crap for not sending my badges to print a few days in advance.

On the other hand, it's so much less work for organisers to print blank white boxes, and let attendees fill in their own preferred names at check-in.

Re: We tried to hustle our way into YC after we got rejected

#83
post #57
post #8

missiveapp.com and conferenceBadge.com, my two startups, have both been rejected at the interview phase. Our yearly revenue for both now stands in the 7 digits. We are still just a team of 3 + 1 employee, 100% bootstrapped. Life is good. My advice, keep pushing! https://missiveapp.com/ https://www.conferencebadge.com

I gotta say your Medium post about Missive being a hybrid app and beating native UIs in many aspects was pretty inspiring.

This is the only reason we can as a tiny team of 3 keep pushing features/improvements[1] on all platforms. Not to say it's perfect.

[1] https://missiveapp.com/changelog

Re: We tried to hustle our way into YC after we got rejected

#84

It's great that YC provides feedback on why they don't accept (some) companies. However, it's a bit disappointing to see that not having MRR is a reason to reject a company. It seems like a lot of the successful YC companies were accepted way before they were anywhere to close to revenue -- and some were even working on a completely different product when accepted. My hope is that MRR is sufficient, but not necessary…

Maybe I just don't get the Silicon Valley culture, or perhaps I'm missing something fundamental, but let me just get this straight: 1. Startup has no revenue whatsoever, but ostensibly have good product. They go pitch to investors and get rejected, likely because they have no revenue. 2. They hack around for 1 (!) weekend and get their MRR to $500. Five hundred bucks. They now go back to investors and say: hey look,…

Excluding cheating - asking friends and family, or business to partner to boost your MRR -, a few hundred dollars prove a lot of things. Getting the marketing, billing system, and actual product right for this few hundreds is way harder than it seems.

Re: We tried to hustle our way into YC after we got rejected

#85
post #43

Earlier quoted context omitted.

so, it took anna 10 hours, and lets assume anna gets paid 25 dollars an hour, so a cost of 250 dollars. Shelley, used the conference badge, and at 1.79 for the fully shipped version of the badge, it will cost 582 dollars. So, essentially, Shelley paid 332 dollars for QR codes and convenience. Is it worth it? probably. but maybe not.

Badge printing kits/holders are not free :) https://www.amazon.com/Avery-Badges-Lanyards-Holders-Inserts...

Blank lanyards and card holders are really cheap if bought separately, and one really only needs to make sure that their printer prints 4x6" or A6, instead of buying such an expensive kit.

Re: We tried to hustle our way into YC after we got rejected

#86

Earlier quoted context omitted.

I have a suggestion: add support for dual-clip lanyards[1]. I've always found the single-clip lanyards annoying: they flop around and get twisted. I went to a conference this spring that had lanyards that clipped to both top corners of the badge, and it was significantly less annoying. [1] For example: https://www.marcopromos.com/product/3-4-cotton-no-flip-lanya...

In the last few conferences with single-clip lanyards, I started noticing the badges' orientation. I would expect them to be roughly 50% front, 50% back, but significantly more badges were oriented so that the back was showing, which surprised me. I guess it's the same kind of magic that makes the USB port always be the wrong orientation, then you flip it and it's wrong again, and it's only right after you flip it tw…

Some people don't like showing off all their information, but most venues require the badge to be shown at all times.

Re: We tried to hustle our way into YC after we got rejected

#87
post #13

So, that's the dichotomy of YC. YC is an accelerator, and as such, needs to accelerate /something/. If you join too early, then it's almost a distraction to getting the product out and talking to users. However, hit the sweet spot and YC is an invaluable resource to help you grow. On the other hand, YC opens the door to so many opportunities and great people, that even if you're too early, the net result is still a p…

Hey Dom, we worked together directly when you were in YC, and I deeply disagree with your assessment that having progress helps a startup succeed in YC.

The worst case scenario is a newly accepted YC startup with a little bit of traction... just enough traction that they aren't willing to change ideas/markets and not enough traction for them to actually know they have product market fit. It's the uncanny valley of product-market fit. These companies with a little bit of progress can spend months or years of their life chasing what they later realize was a mirage.

When a new YC company enters the batch with very little or no traction (and can move incredibly fast) they will longterm outperform companies accepted with small traction most of the time. Based on the hundreds of companies I have personally funded at YC, speed is the single most predictive variable of if a startup will succeed - not traction at time of accept.

Re: We tried to hustle our way into YC after we got rejected

#88

It's great that YC provides feedback on why they don't accept (some) companies. However, it's a bit disappointing to see that not having MRR is a reason to reject a company. It seems like a lot of the successful YC companies were accepted way before they were anywhere to close to revenue -- and some were even working on a completely different product when accepted. My hope is that MRR is sufficient, but not necessary…

Maybe I just don't get the Silicon Valley culture, or perhaps I'm missing something fundamental, but let me just get this straight: 1. Startup has no revenue whatsoever, but ostensibly have good product. They go pitch to investors and get rejected, likely because they have no revenue. 2. They hack around for 1 (!) weekend and get their MRR to $500. Five hundred bucks. They now go back to investors and say: hey look,…

It's the kind of situation that an auto mechanic in Pennsylvania would give a confused look of "kids these days" toward.

Focusing on growth is great but what has happened here feels to me like an inversion of accepted business logic. It seems like there wasn't a thought given to revenue before receiving this feedback.

The funny part about that is how this little bit of $500 MRR would have definitely helped this small team pay their grocery bills, and they could have been benefitting from that months ago if they just...thought about how businesses exist to make money.

The desperation to get into YC feels like an episode of American Idol, where the contestant may not remember what the benefits of being on American Idol are in the first place.

Looking at their site, it's got a few misspellings, a dead link, and some really strange ways of communicating that they used to have no watermarks, but now they have watermarks.

The product seems slick but incredibly limited as well. I'm not sure the idea of a video editor being web based is actually incredibly useful over an installed app.

Finally, they're charging $50 a year for a product that does less than iMovie (pre-installed on 50% of smartphones sold in the USA) or Adobe Premiere Clip (free).

If you stayed subscribed to this product for 6 years you'd have broken even by just buying Final Cut Pro, assuming they don't ever raise the price.

I'm not really surprised that YC had revenue concerns.

Re: We tried to hustle our way into YC after we got rejected

#89
post #8

missiveapp.com and conferenceBadge.com, my two startups, have both been rejected at the interview phase. Our yearly revenue for both now stands in the 7 digits. We are still just a team of 3 + 1 employee, 100% bootstrapped. Life is good. My advice, keep pushing! https://missiveapp.com/ https://www.conferencebadge.com

Fantastic! I love hearing stories like these. Congrats on building a healthy, hopefully profitable, business.

Re: We tried to hustle our way into YC after we got rejected

#90
This kind of feedback is not to be taken at face value. YC says very clearly that the point of the interview is to judge the quality of the founder(s). Whatever excuse they invent to write in the rejection email is really nothing more than that: a polite excuse.

They don't feel that they can be frank and just say: "We think you're probably bad founders based on the fact you have been very slow to charge customers."

Just remember that they're attempting to judge the potential of a team of human beings in 10 minutes. Realize how fundamentally flawed (and demeaning) that concept is. It's quite possible, and even likely, that their interview selection process is worse than random chance.

Of course, they think they're good at picking. But this belief is based on the theory that the companies that they don't pick will succeed even without YC's help i.e. that there would be an embarrassing anti-portfolio.

Since many of YC's most successful founders acknowledge that they wouldn't have succeeded without YC, that theory is obviously bunk.

IMHO the YC application and selection process is reasonably good. It's something approaching a crowdsourced process. The interview is them injecting their egos into the process, to the detriment of themselves and founders.

The problem is perpetuated because the people that do luck their way in are then immediately convinced that the system works. After all, it did select them, it must be pretty darn good. This is the destructive power of ego.

Someone could beat YC at selection simply by copying them and removing the interview part of the process (i.e. just accept the top N applications). Crowdsourcing is going to most closely approximate the customer point of view, and that's what ultimately matters for startups.

It's okay that YC is kind of bad at their core function. They're still good enough to stay in business and it's their prerogative. It's just a shame that they're not improving and that there isn't anything better, yet.

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