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Tell HN: Ever think of applying to YC? Do it this weekend for S24

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231–240 of 441 posts

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#231
post #55

Earlier quoted context omitted.

You can still be rich. Tech culture, or rather modern capitalism, tells us that businesses need to raise a bunch of money, capture a bunch of users, and then squeeze them for all they'll take. It fails us in two very distinct ways. It encourages us to think that is the only viable option and it's unethical. Primarily because it requires the perception of customers (and often employees) as a means to an end (not human…

> the possibility for ethical, sustainable business models is still very real. Those exist everywhere in the trades. Every major city has dozens of small businesses doing plumbing, electrical, roofs, etc., with the goal of sustainable, loyal customers based on doing a good job at a fair price.

Well put. The difficult part for us software folk is learning to apply that model to software. Customers in the world of software generally don’t know what they want. I think the low hanging fruit here is to copy products from the unethical companies and beat them at caring for the customers.

The real value is probably in new product models that can only exist given an ethical perspective. Perhaps reviving the mostly dead pay once use forever model of software would work well.

That model requires abandoning DRM which the unethical companies will never do.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#232
post #51

What happened? Not enough people applied? Here's the last batch.[1] Gives a sense of what's being funded. Ideas: - MoneyNow - leverages the new FedNow instant payment system. FedNow is run by the Fed and transfers money in seconds with a charge of just US$0.045 per transaction. And they mean seconds . If the money isn't there in 10 seconds, the transaction times out. Few banks support it yet, but some do. It needs co…

Unrelated, but they _charge_ you for transferring money??? Is the US ever gonna have true free instant transfers? Without none of this venmo paypal shenanigans?

Most (all?) countries do this. Consumer banking services will offer free transfers as a loss leader.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#233
post #23

Re: "won't get in" How do I balance this encouraging advice with everything I've heard online about YC basically being a post-Ivy League thing? Seems like there's basically a 0% chance a random person would get into YC. And often those who did get in went to Stanford, Harvard, etc. and don't even have a product - sometimes they don't even know what they're going to build yet. I wrote the idea of VC stuff off long ago…

I had ambitions of cranking out an MVP and pitching it to VCs in my late 20s. After a year of solid rejection ( including YC not even responding), I gave up. You end up spending alot of time trying to pitch your work. I've had a few idea guys expect me to build MVPs for free with an offer of like 1% or something silly like that. Never any pay, poorly thought out concepts. I've accepted I'm never going to be rich, it'…

I think there are things that need doing that can't be done profitably, so giving up on being rich had a really nice focusing effect on my dreams.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#234
post #23

Re: "won't get in" How do I balance this encouraging advice with everything I've heard online about YC basically being a post-Ivy League thing? Seems like there's basically a 0% chance a random person would get into YC. And often those who did get in went to Stanford, Harvard, etc. and don't even have a product - sometimes they don't even know what they're going to build yet. I wrote the idea of VC stuff off long ago…

Sounds like you are making a lot of progress. What’s the business?

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#235
A realistic perspective for non-elites to balance out opinions such as "applying will help you think through your idea" or "the upside is completely worth it".

1. Imbalanced niceness: If you get convinced or are in a good mood, you must know that YC is a private company that works to serve its founders, employees and current startups (any private individual would do that so nothing wrong!). The goodwill that is put into filling out a well researched application will be met in around 95% [1] of cases with a cold email with no feedback. The gain from "thinking through your idea" or having romantic thoughts of getting in will most likely be wiped out with the rejection trauma. Also, to temper expectations, it is useful to know that YC actively seeks elite networks with more vigor than the general public due to obviously higher odds of selection and future success of elite founders (again nothing wrong here but these things should be known by non-elites). Just search "yc mit" for how actively MIT alumni and students are reached out to by YC partners through in-person events.

2. Competition from elites: If a person with an elite background (company or university) applies with a similar idea to a person with a non-elite background, the elite person gets in due to stronger odds of succeeding in hiring, raising follow on money etc. The non-elite person's capabilities will most likely not be compared objectively to those of the founder with the elite background due to lack of resources. It will most likely be assumed that the elite person will pull it through rather than the non-elite. This is one of the reasons many highly capable non-elite founders feel a lot of whiplash because an elite founder with only an idea will often make it through while the non-elite won't. The whiplash originates from there being such small delta between the non-elite and the elite individual in many cases. The claim here is not that all elite get through. The elite are weighed with other elite but it's obvious that there are higher odds of getting through if you're an elite. It must be realized that just a couple hundred elite applicants will almost completely wipe out the odds of thousands of non-elites.

I'm a non-elite and I've applied and been rejected thrice and just don't have the strength to go for these schemes anymore. I know "we should learn to deal with whiplash" but I'm done with the way the world is designed. I believe the individual must rise higher than having to depend or listen to such schemes and feel pulled into them while in most cases ending up worse off in the process. Schemes such as these are designed to cause more whiplash to the non-elite without any fault of YC - this is just how the world works.

Follow up thoughts Q- Why didn't the non-elite strive harder to become the elite when they had the chance? A- I think we generally thought that we'll hit our home run at the next attempt but didn't know how quickly the odds slide to impossible. Also just ignoring the fact that the elite group is a relatively small and stable number of people that doesn't elastically increase with the population or with with one's capabilities. The elite just get more elite - the lindy effect.

[1] assuming 2% selection odds and 4-5% odds of an interview call

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#236
post #23

Re: "won't get in" How do I balance this encouraging advice with everything I've heard online about YC basically being a post-Ivy League thing? Seems like there's basically a 0% chance a random person would get into YC. And often those who did get in went to Stanford, Harvard, etc. and don't even have a product - sometimes they don't even know what they're going to build yet. I wrote the idea of VC stuff off long ago…

There are a lot of legitimate criticisms to be made of YC and of VCs in general (please do not take this as me going "there is nothing wrong in the VC world at all", because I absolutely do not believe that!), but I don't think excessive academic elitism is one of them. If anything, I think they're quite a bit better about avoiding that elitism than the average you'll find among organizations of comparable wealth and…

>>> "YC is pretty explicit that they try to pick founders, not ideas, most of the time. That approach is all over the Startup School videos, for example; they don't exactly make a secret of it."

If Y Combinator truly prioritizes founders over ideas, as indicated in their Startup School videos, repeated rejections might suggest a fundamental mismatch. If you haven't been accepted after one or two tries, it may be a signal that you're not the type of founder they're looking to fund. People do not change that much usually.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#237
post #161

Earlier quoted context omitted.

I would work on what I was most passionate about. Which btw is also the advice that pg and Jessica (specifically Jessica in this case) gave at their last YC talk, and you can't get more YC than that.

Did they? It’s surprising because your description can’t possibly be a recipe for generating startup ideas. pg was most passionate about lisp. There must be more to it than what you said. I try not to dismiss ideas out of hand, but this seems like bad advice for someone explicitly trying to become wealthy. It’s great advice for YC to be giving, because it would maximize YC’s returns over decades: if everyone works on…

No advice has a 100% success rate. The existence of failure cases doesn't inherently make the advice bad. The advice to pursue your passion as a startup idea is still relatively good advice. It's the best way to avoid the most trite and cliché ideas. I don't know what someone passionate about spreadsheets would create, but it would be more unexpected than building a generic AI writing app. Whether it succeeds or fails.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#238

Earlier quoted context omitted.

I’m in the same boat, except now actively planning to take off to work on a side project. Rather than spend another year building a prototype for a potential $100M idea (last two landed me really nice jobs) I have my eyes set on ideas that will generate $3-6M/year that I can realize on my own with minimal/no outside funding. I may apply to this YC round for giggles, but totally get the same feeling as you that I’m pr…

What market are you targeting 3 to 6 mil a year is amazing for a solo startup. I'm basically a hobbyist game dev outside of work and games are just so risky as a business.

I figured solo game devs were more in it for passion rather than anything else. The Choo Choo Charles guy has an interesting YT video on his dev/launch procedure. He basically spent 4 months full time advertising his game after he finished developing it.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#239
post #227
post #140

Earlier quoted context omitted.

I really appreciate this comment. Service offered / payment received is irreplaceably wholesome and satisfying :) especially when they come back as repeat customers or become regular clients. Repeat business and gradual growth gives us both an exciting feeling about the future that I never quite felt at a startup. I've found too often a venture-backed startup is really a lifestyle business in disguise for the founder…

You're welcome ! Best wishes for your business :)

You too!

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#240
post #124

OK. I finally gave it a shot. But https://apply.ycombinator.com/bio/edit is broken. So I can't submit my application. Not interested now. You guys need to fix your website.

Are you sure it is in your interest to give up at the first hurdle?

I think a firm with 600b in equity can fix an html form.
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