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Applications Open for Winter 2008 YC Funding

ycombinator.com

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Re: Applications Open for Winter 2008 YC Funding

#21

Post by pg »

cperciva wrote: post #19
pg wrote: post #17

Earlier quoted context omitted.

That's covered in the fourth from last paragraph. Basically, we'll bend any rule if you're a genius, but anyone, even a genius, is more likely to succeed if they have a cofounder.

You'll bend any rule? Does that apply to the "must move to the Bay area" rule? (Yes, I am a genius.) If it weren't for that rule, I'd seriously consider applying -- but if I wanted to move to Silicon Valley, I'd work for Google.

We once funded a company that didn't move. It didn't work very well. A startup would have to be really good to convince us. And if we did agree it would hurt them, relative to what they might have done if they'd moved.

Re: Applications Open for Winter 2008 YC Funding

#22

Post by gibsonf1 »

pg wrote: post #8
migpwr wrote: post #6

Earlier quoted context omitted.

How many applications do you think they receive on average?

We got about 430 last time, of which we ultimately funded 20. (1 of those 20 immediately merged with a startup from a previous round, so only 19 came to Cambridge.)

Those are impressively bad odds for being accepted.

Re: Applications Open for Winter 2008 YC Funding

#23

Post by staunch »

gibsonf1 wrote: post #22
pg wrote: post #8

Earlier quoted context omitted.

We got about 430 last time, of which we ultimately funded 20. (1 of those 20 immediately merged with a startup from a previous round, so only 19 came to Cambridge.)

Those are impressively bad odds for being accepted.

A startup is going to compete for the attention of users against many thousands of other companies. Competing against a few hundred, most of which are probably hopeless, doesn't seem that scary to me.

Re: Applications Open for Winter 2008 YC Funding

#24

Post by blader »

abstractbill wrote: post #9

I may be remembering all this completely wrong, but I seem to recall yc offering a couple of alternatives to the usual application process - that you could apply with no idea, or you could apply with no co-founders and yc would hook you up as an early employee of a yc-funded startup. Am I right about those offers, and are you still making them?

This is just our experience interviewing last season. We applied with two ideas, both with prototypes. The discussion was pretty much exclusively about the idea - how new it is, how easy it is, how interesting it is, whether or not it's porn/music related (either category is probably not a good idea btw).

We had a good response to both our prototypes, but ultimately we were told our idea didn't seem different enough. The impression I got from our interview was that the idea is actually pretty important.

It kind of makes sense, since you're competing against other amazing hackers with good ideas. It doesn't matter as much if you're good -they all were-, you really do need a great idea to go with your team.

Re: Applications Open for Winter 2008 YC Funding

#27

Post by pg »

gibsonf1 wrote: post #22
pg wrote: post #8

Earlier quoted context omitted.

We got about 430 last time, of which we ultimately funded 20. (1 of those 20 immediately merged with a startup from a previous round, so only 19 came to Cambridge.)

Those are impressively bad odds for being accepted.

They're made to look bad by how easy it is to apply. If you make a website offering people money if they fill out a form, a lot of people will fill it out. But the odds for a good team are not as bad as they might seem. At least a third of the applications are egregiously broken: 13 year old founders, people who want to "telecommute" from India, people who want us to fund their plumbing supply store, etc...

Re: Applications Open for Winter 2008 YC Funding

#28

Post by gibsonf1 »

pg wrote: post #27
gibsonf1 wrote: post #22

Earlier quoted context omitted.

Those are impressively bad odds for being accepted.

They're made to look bad by how easy it is to apply. If you make a website offering people money if they fill out a form, a lot of people will fill it out. But the odds for a good team are not as bad as they might seem. At least a third of the applications are egregiously broken: 13 year old founders, people who want to "telecommute" from India, people who want us to fund their plumbing supply store, etc...

Thanks for that clarification - the odds are getting a bit better :) . I'm curious: how many teams were interviewed in person to arrive at the final 20?
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