YCombinator has a very narrow niche for the kind of companies they fund. They reject many companies, not because they aren't good companies, but because they don't fit the YCombinator style. This isn't a bad thing for YC. Everybody needs to specialize. And it means there are plenty of good startups out there that aren't getting funded by PG/Yuri Milner.
How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
101–110 of 125 posts
Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
#102Earlier quoted context omitted.
Aren't you a single founder? What makes you special?
YC accepts single founders, the bar is just higher. Applying with co-founders and having them disappear is probably worse than applying as a single founder, because co-founders jumping ship is one of the things that often happens shortly before a startup dies. I'm sure YC was acutely aware of this pattern, and that makes the Storenvy story all the more impressive.
Cool story bro.
I was asking Ray what made him an exceptional single founder.
Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
#103Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
#104The most intriguing point is "Why doesn't Storenvy accept other payment modes than Paypal??? "
Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
#105On another note, storenvy.com is really well-crafted. I just spent an hour browsing the products on the many stores. The UI is really a job well done.
Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
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Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
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Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
#108Amazing storry. I just wished I was one of his co-founders, I would never say no to that. But I guess this just goes to proof that not everyone has a startup goal in their minds.
I wish you the best of luck on your project, it is a true inspiring story. Congrats
Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
#109Every batch there are some groups that fall apart between when we agree to fund them and when YC starts. Sometimes we tell them not to worry about it and do YC anyway, and sometimes we tell them they should take some time to repair the damage and reapply for the next cycle. It depends on how bad the breakage is. If a team of 3 loses 1 person, that's no problem. Whereas if a team of 3 loses 2 people, that's bad. In th…
Paul, thank you for adding your point of view, and I understand that it was a bad surprise to hear the bad news to late.
But if I understood correctly:
1. he was not planning on applying to YC, you asked him to 2. he had a good living situation and local contacts, and you asked him to move to SV 3. he had a functioning company wit income and co-founders, and you asked him to do something (move to SV) that blew up the company
As he makes all these sacrifices, in a very short schedule, you decided that you no longer wanted to fund him, as he turned up, suitcase in hand.
It is fine that you did not want to fund him into your group, and that you have well-tested criteria about co-founders.
But the guy made sacrifices for you and YC, and from what I understand, you / YC dumped him in the last minute.
To me, relationships are built on moments of truth. (Not my phrase, I heard it from the CEO of a health insurance company.) What do you do when things are going badly, rather things are going well.
Perhaps you are being modest, but I cannot see any mention of anything you did to help him, now that he was in a foreign city with no connections and no co-founders, trying to follow your instructions. "Apply for the next YC" does not count as help, and the ability to mention that you had accepted him previously does not count as help either (although I am sure he used it in his self-introductions).
Good on him for finding funding, and of course he is a good entrepreneur for picking himself up and continuing, and you are a good spotter of entrepreneurs for selecting him in the first place. But to me, this story does not reflect well on YC.
Re: How I Got Kicked Out of Y Combinator and Then Raised $1.5m for My Startup
#110Earlier quoted context omitted.
The problem is assessing who the critical members of the partnership are at that moment. I've met companies where the quiet, reserved hacker in the background was the real brains for the technical and business side of things. The other partner(s), while critical for adding that je ne sais quoi which the hacker required to be effective, were easily replaceable. Some hackers just want to be Karl Rove. The problem with…
You're right about Phil Jackson. He's a basketball genius. LA has always been able to attract top talent, but raw talent alone doesn't equal multiple championships at NBA level.
It's not extremely common for people to list their location in their profile, but for some reason I was compelled to click on your username.
What a surprise I see "Los Angeles."