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

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

#281

Post by rthrfrd »

dang wrote: post #25
_akhe wrote: 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…

All I can tell you is it's not true and that's why I posted this! (and if it's true that everything you hear about YC is telling you otherwise, then YC has a serious messaging problem)

I see YC as doing what every successful mature business does, which is come to rely on its experience and market position (it’s hard to disrupt yourself), which for better or worse creates habits, which in YC’s case means very coarse investment heuristics. As an outsider they seem very obvious. I’ll omit how that relates to my own experiences and biases (I’ve only ever made one half-baked on-the-deadline application so I don’t think they are relevant). Just my 2c as a long-time follower.

I think it would be awesome to see YC break at least some of itself off into some more elite and disruptive units (where elite refers to the quality of the intake and YC expertise, not the founder education history).

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

#282

Post by dang »

chaostheory wrote: post #258
bdjsiqoocwk wrote: post #103

Earlier quoted context omitted.

> I mean, I didn't even graduate college :P Yes, but did you go to one of those colleges where dropping out is even better than graduating? Because most of us didn't even get the chance to drop out of one of those.

This is a really good point because the vast majority of YC members (97-99%) either graduated or dropped out from Ivy League level schools, or really highly rated state schools. (Dropouts are also a very small minority.) There are YC members who didn’t come from prestigious schools, but they are outliers. Maybe it’s changed the last 4 years? That’s when I stopped tracking it.

That's definitely not true. Where did you get these numbers?

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

#283

Post by dang »

april192024 wrote: post #279
dang wrote: post #241

Earlier quoted context omitted.

It's exactly the other way around. You'd be right if YC were perfect at assessing founders every time, but of course they're not. Applying repeatedly gives you a chance to prove that they got you wrong the first time (and the second, and the third, and so on, if need be). Not only does this work, it's the majority case (I just double checked this). Most founders that YC funds are repeat applicants. Applying repeatedl…

YC frequently heralds persistence as the most reliable indicator of future success. However, a closer look at their selection practices reveals a profound contradiction. Despite their public endorsement of this trait, YC often rejects applicants who demonstrate true persistence by reapplying after initial failures. In contrast, they appear to favor individuals with prestigious academic or corporate backgrounds—those…

Persistence is not "the most reliable indicator". It's possible to be persistent at something that isn't working and isn't going to work (I know; I've done it). That's not useful, so persistence is far from sufficient. It is necessary though.

If there's a most-reliable-indicator at all, it would be something like what pg called 'relentless resourcefulness'. The includes persistence and a lot of other things as well.

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

#284

Post by bruce511 »

_akhe wrote: 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…

Congratulations on having a successful business. There's nothing wrong with a business that grows slowly, pays you a salary, and remains profitable.

I've walked a similar path and, while I'll never be a multi-millionaire, I'm very comfortable and have more than I need. Small, stable, businesses that offer good secure jobs are the backbone of the economy.

All that said, there are investors out there who are interested in folk like you and me. A track record of success, coupled with potential, and immediate returns is attractive.

VC investors are ultimately investing in people, not businesses. The idea matters to some extent, but its more of a pitch in the person or team. This is partly why college is so predominately material. In the folk "starting out" there's little else to look at.

(Always have your first date on a famous college campus, then you can forever drop "we met at harvard" into the conversation.)

To be honest, VC investing isn't for me at this stage in my life, and it may or may not be a good fit for you. For many it's a great fit though, and in some ways their "first good job".

So I think the advice in thr post is fine - if you -want- to go this route then go for it. The worst they can say is "no".

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

#285

Post by sebastiennight »

bruce511 wrote: post #284
_akhe wrote: 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…

Congratulations on having a successful business. There's nothing wrong with a business that grows slowly, pays you a salary, and remains profitable. I've walked a similar path and, while I'll never be a multi-millionaire, I'm very comfortable and have more than I need. Small, stable, businesses that offer good secure jobs are the backbone of the economy. All that said, there are investors out there who are interested…

> (Always have your first date on a famous college campus, then you can forever drop "we met at harvard" into the conversation.)

That was hilarious. Do people really do that?

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

#286

Post by xandrius »

andrewmcwatters wrote: post #57
Animats wrote: 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…

That's a whole lot of "AI"...

How are you in the least surprised?

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

#287

Post by b112 »

_akhe wrote: post #174
jasperstory wrote: post #95

Earlier quoted context omitted.

Just finished W24 batch with no Ivy/FAANG background. Everyone I met in our batch was very friendly, curious, and razor-sharp. Many people have credentialed backgrounds, many people do not. I generally buy YC’s justification that many of the smartest people happen to go to Stanford/Ivy which is why they are over-represented.

> the smartest people happen to go to Stanford There's no way this is even possible, let alone true. This might be a hot take but if you're under the age of 25, it's likely that you know very few things total. And the things you do know, you're just not going to have a master level of understanding of in your 20s yet nor the drive to focus on it the way it needs, especially with other social pressures at play. What i…

There is a lot of variance in how words are used, so I'm not going to say you're wrong here.

However, my usage of the following words deviate from yours:

* intelligence - raw intellect, having absolutely nothing to do with anything ever learned

* smarts - synonym for raw intellect, but often more on the 'crafty' side of raw intellect

* ability - short for 'capabilities', and is a merge of 'intelligence' and 'learned information'. Information is useless without intellect, and intellect is vastly reduced in capability without learned information. Ability is a metric for these two conjoined. 'Skilled' fits here too.

So from where I sit, you never get "smarter" as you age. You do however grow your abilities, you may become "wise", and skilled.

By the way, agree 100% with the context of what you're saying. And just passing on term usage from another geolocation.

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

#288

Post by desireco42 »

_akhe wrote: 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…

This... what you just said. I am creating a business with my kids, so it is both educational for them, develop creator habits and that we create future together.

I don't think we would be taken seriously by YC even though this would be perfect educational setting for them. BTW, kids are 17 and 15 and 11, not sure if I would fully include all of them.

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