7% for 120K???? what kind of goddamned mcdonalds burger flipping founder would accept such a horrible deal?
The New Deal
171–180 of 194 posts
Re: The New Deal
#172Earlier quoted context omitted.
More and more they're funding startups that have traction, customers, revenue - sometimes substantial revenue.
Can you cite a few examples of companies they funded with substantial revenue? I'm very curious to learn about which ones they were.
Many (most?) of the companies that presented at the most recent YC demo day had substantial revenue, and many of those were already making revenue before they joined YC.
(That's a big difference from the YC batch I went through back in Winter 2011)
Re: The New Deal
#173Has YC / Teespring taken a position on whether a L3C is a "non-profit"?
Re: The New Deal
#174Earlier quoted context omitted.
Off topic, but if your son has the chance to go Harvard/MIT/Stanford, he absolutely should. The difference is primarily in the caliber of the other students, and it makes a world of difference to have such a concentration of talent in one place. (Note that I'm not saying there isn't talent elsewhere, just that there's an incredible concentration of it in the top n schools.)
It doesn't necessarily make world of difference. When you compare students who attended top private schools vs. those who were admitted but attended state schools, they actually have equivalent incomes down the line. What's likely happening is that really smart kids at good state schools end up finding the pockets of talent there anyway. Pretty scary implications for the value of a Harvard degree. source: http://www.…
The network you'll make at top-tier schools is IMO a lot more important than anything else.
Re: The New Deal
#175Earlier quoted context omitted.
Get the best of both worlds and do a master's at a top notch school. That's my story. I went to good-but-not-world-renowned state school for undergrad on a full ride. I did my best to wring the absolute most out of that experience, and it paid off in many ways, including a fellowship that paid for my master's at an Ivy. Most grad students don't get plugged into "the network", but I went out of my way to engage in cam…
> Get the best of both worlds and do a master's at a top notch school. Glad that worked out for you. To be clear, my school is actually extraordinarily good academically (we're privately funded by an oil fortune)—it's just that the prestige of the name and student's isn't quite at Ivy quality. > Point being, everywhere you are has something to offer. Make the most of your situation! I'm doing my best, and doing prett…
For what it's worth I went to Cambridge (UK) and didn't really build a network of useful friends and contacts. You often have to work at that stuff and I was a bit of a geek / not extra social. You can always do it deliberately later through something like MBAs, YC etc. I had a friend who had a good time and made lots of high power contacts doing the UCLA Executive MBA later in life. The brand recognition of the name is handy - people assume you are bright in a way they wouldn't if you go to a no name place.
Re: The New Deal
#176Earlier quoted context omitted.
They are a company with real revenue that's growing and they think the publicity will sort of make up for it, so they don't end up losing too much on it. If yc does 5 nonprofits per batch, $500k is not a lot of money.
I think your math is off. 5 NP's per batch * 50k = 250k from teespring which makes your point even stronger.
There are 2 batches a year.
Re: The New Deal
#177A lot of companies talk about changing the world, but Teespring really puts their money where their mouth is. Not only have they been quietly supporting us (Watsi) since the beginning, but to commit $50k to every YC non-profit is truly incredible. Teespring is setting the standard for the next generation of startups, and we're proud to call you guys our friends.
I ended up with 3 Watsi blue logo t-shirts from Teespring because they said they weren't happy with the quality of the first 2. I kept the 3rd for myself but gave the other two away. They are certainly committed to delivering quality.
Re: The New Deal
#178A lot of companies talk about changing the world, but Teespring really puts their money where their mouth is. Not only have they been quietly supporting us (Watsi) since the beginning, but to commit $50k to every YC non-profit is truly incredible. Teespring is setting the standard for the next generation of startups, and we're proud to call you guys our friends.
I ended up with 3 Watsi blue logo t-shirts from Teespring because they said they weren't happy with the quality of the first 2. I kept the 3rd for myself but gave the other two away. They are certainly committed to delivering quality.
[deleted]
Re: The New Deal
#179Just wanted to say that we're excited to be a part of the non-profit side of YCombinator. It's been humbling to have Watsi working with us in our office and watching the amazing things they achieve on a daily basis. I have no doubt that amazing non-profits will continue to emerge from YC.
You guys are simply awesome :)
Re: The New Deal
#180I don't know how much of this idea comes from Sam Altman, but YC looks better and better since he took over.