Has YC rejected applicants despite impressive early traction?
Applications open for Y Combinator's summer 2012 funding cycle
61–70 of 114 posts
Re: Applications open for Y Combinator's summer 2012 funding cycle
#62Earlier quoted context omitted.
I am wondering what you have learned from each rejection, mind sharing?
I have been rejected 4 times and each time I learned things. socialadmanager.com - 2x it was that my product lacked focus and the value it created was as obvious as I thought it was. spotted.at - 1x I learned that even if I had been funded I would have failed because the product was simply not something that people would pay for. i.crowdfunded.it - 1x I learned that I did not understand the customer / market etc... e…
You have an awesome attitude, and, in my limited experience, the one required to eventually succeed. Keep at it, and I hope you find a cofounder someday!
Re: Applications open for Y Combinator's summer 2012 funding cycle
#63I wish I can make it !! But my product isn't finished yet! #cry
Why do you think your product must be finished to apply? Apply early, show progress.
Re: Applications open for Y Combinator's summer 2012 funding cycle
#64If you want a little honest feedback on your application before you submit it, feel free to contact me. I was the first engineering hire at justin.tv, I'm the cto of ZeroCater now, and I love talking about startup ideas.
Wow, that is really great of you and I will be sure to take you up on the offer.
Re: Applications open for Y Combinator's summer 2012 funding cycle
#65If you want a little honest feedback on your application before you submit it, feel free to contact me. I was the first engineering hire at justin.tv, I'm the cto of ZeroCater now, and I love talking about startup ideas.
Thank you very much! I'll contact you via email.
Re: Applications open for Y Combinator's summer 2012 funding cycle
#66I'm curious to know the financial situations of those who apply to YC. You don't have to give specifics, but has anyone gone through YC with a lot of school debt? (>$20k, >$40k?) How did you manage this? For those who haven't gone through YC but do have a lot of school debt or otherwise, how do you think you'll manage?
Startups are a lot harder for people with debt/no savings/kids/mortgages/etc, but there are plenty of cases where resourceful people found a way to make it work. When you have debt and a huge-but-not-immediately lucrative opportunity in front of you, I imagine you'll manage like entrepreneurs have for centuries. Sleep on couches, eat ramen, rack up some more debt (credit cards?), dodge or persuade your creditors, etc…
I would advise to exhaust every possible better source of debt before turning to credit cards. Compound interest on your average credit card rate is brutal, and entrepreneurs going through high uncertainty shouldn't fall for the time-bomb promotional offers.
Re: Applications open for Y Combinator's summer 2012 funding cycle
#67I'm happy to offer feedback on your application as well. I was in the YC summer 2006 batch, currently a cofounder of Sincerely. You can reach me at bryan-at-sincerely
Thanks Bryan! I just sent you an email.
Re: Applications open for Y Combinator's summer 2012 funding cycle
#68Does it matter how early you apply? We'd like to have a working product to show before applying, and could have it before the deadline—but might it be better to apply earlier while we're still in the concept & design stage?
Re: Applications open for Y Combinator's summer 2012 funding cycle
#69One of the things I have heard a lot of founders say when asked if they are considering doing YC is that they are already "down the road" with their company - as in, they have already launched, or have customers, or investor attention. I know dozens of startups that went through YC at this stage, and they will all reiterate how beneficial YC was for them. If you're running a startup I really cannot think of a singula…
> If you're running a startup I really cannot think of a singular reason as to why you wouldn't apply. Nitpicking: No interest in moving to the Bay Area would seem to be one.
This has been addressed ad nauseum in the past: you don't have to move to the Bay Area to join YC. Lots of YC companies spend the summer in the Bay, then move back to continue working.
Re: Applications open for Y Combinator's summer 2012 funding cycle
#70One of the things I have heard a lot of founders say when asked if they are considering doing YC is that they are already "down the road" with their company - as in, they have already launched, or have customers, or investor attention. I know dozens of startups that went through YC at this stage, and they will all reiterate how beneficial YC was for them. If you're running a startup I really cannot think of a singula…
> If you're running a startup I really cannot think of a singular reason as to why you wouldn't apply. Nitpicking: No interest in moving to the Bay Area would seem to be one.
I question what reasons someone would have to be unwilling to move to the Bay Area for 3 months given the amount of founders that claim that YC was the tipping point for their companies.