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We Make Mistakes

blog.ycombinator.com

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41–50 of 206 posts

Re: We Make Mistakes

#41

Post by clairity »

panther2k wrote: post #36
MCRed wrote: post #21

One of the things that I've found so challenging about applying for accelerators is that it's difficult to find examples of companies that got in or that didn't get in, and what they did for their applications. Every time I have come across one, I've learned a bit - like "that didn't work" or "that was a great idea" - around how they apply, pitch themselves or their product, etc. Anyone who was rejected want to share…

Here you go: https://docs.google.com/document/d/1s8udpwEe7TPz1xJLA3E1N9qb... We are building a decentralized bank/crowdlending network on the blockchain.

neat idea. did you consider applying to PnP bitcoin accelerator? http://plugandplayaccelerator.com/programs/Bitcoin

Re: We Make Mistakes

#42

Post by wasd »

brentxphillips wrote: post #20

So how would YC classify passing over interviewing former United Nations staff working on reducing the turnaround time and effort it takes aid groups to raise funds to develop, launch and sustain operations responding to the worst humanitarian crises the world has seen in an era? Does this fit in the mistake category or the we’re just naively stupid and don’t have the time to bother spending 5 minutes hearing about y…

I think your overreaction of being denied reflects precisely why you were denied.

Re: We Make Mistakes

#43

Post by ams6110 »

brentxphillips wrote: post #20

So how would YC classify passing over interviewing former United Nations staff working on reducing the turnaround time and effort it takes aid groups to raise funds to develop, launch and sustain operations responding to the worst humanitarian crises the world has seen in an era? Does this fit in the mistake category or the we’re just naively stupid and don’t have the time to bother spending 5 minutes hearing about y…

Your space is in international humanitarian aid. Politics drives what can and can't happen much more than any technological barriers. They might have thought that though your objectives are worthy, the solution is not to be found in software.

Re: We Make Mistakes

#44

Post by tpae »

flipside wrote: post #14

7th rejection, doesn't even phase me anymore. :P For those with less experience, the disappointment will pass. Take a day if you need to reflect on what you're doing, why you're doing it and how you could do it better. Rejection is fuel for the fire, use it to burn brighter going forward. Next time, be so good they can't ignore you, simple as that.

4th one for me. Thanks for the words of encouragement!

Re: We Make Mistakes

#46

Post by paul »

7Figures2Commas wrote: post #19

> Don’t let funding take your eye off the goal: making something people want. Everything else, including going through Y Combinator, is there to support that goal but is not the goal itself. It would be interesting to see a chart plotting over time the number of applicants in each batch who have applied to YC multiple times. Based on the number of folks here on HN who have apparently applied multiple times, and for d…

The best way to get into YC is to build a great business :)

Re: We Make Mistakes

#47

Post by paul »

flipside wrote: post #14

7th rejection, doesn't even phase me anymore. :P For those with less experience, the disappointment will pass. Take a day if you need to reflect on what you're doing, why you're doing it and how you could do it better. Rejection is fuel for the fire, use it to burn brighter going forward. Next time, be so good they can't ignore you, simple as that.

"Next time, be so good they can't ignore you, simple as that."

Exactly right!

Re: We Make Mistakes

#48

Post by 7Figures2Commas »

graycat wrote: post #33
damurdock wrote: post #18

I'm reminded a bit of http://www.bvp.com/portfolio/antiportfolio , a collection of companies that applied to Bessemer Venture Partners for VC funds, were denied, and went on to make it big.

Sure, easily can conclude that BVP and other VC firms believe that they have a particular way to evaluate applications and make money. This does not mean that they have the ability or obligation, or even make an effort, accurately to evaluate every application that comes through their door. So, likely, net, if they are making money, then they are happy about the money they are making, smile all the way to the bank, a…

If they are making money? Venture funds are generally structured using the 2 and 20 model. The first 2 refers to an annual fee of 2% of committed capital for the life of the fund. Venture funds typically have a life of 10 years.

I believe Bessemer's last fund was $1.6 billion, so assuming a typical 2 and 20 structure, that would be $32 million/year, or $320 million over a 10 year fund's life, guaranteed.

Re: We Make Mistakes

#49

Post by DevX101 »

flipside wrote: post #14

7th rejection, doesn't even phase me anymore. :P For those with less experience, the disappointment will pass. Take a day if you need to reflect on what you're doing, why you're doing it and how you could do it better. Rejection is fuel for the fire, use it to burn brighter going forward. Next time, be so good they can't ignore you, simple as that.

Persistence isn't always a virtue. If you've been rejected 7 times, please stop expending your time and emotional energy on YC.

Redirect that energy to building your business. Build your product and get customers/users, which is the real endgame, not getting into YC or getting a check from a fancy Sandhill VC.

Re: We Make Mistakes

#50

Post by tomasien »

I never got into Y Combinator (I think I applied 4 times but I'm not sure) but I'm now the CEO of a rapidly growing, well funded startup that actually SERVES an increasing number of YC companies. The way I always thought about YC was that it is ALWAYS worth applying because the exercise is good and the upside is high (and the downside minimal) but getting into YC should never be "part of your plan" - there are too many other great applicants, plain and simple.

It's the same as how no student should ever PLAN to get into Harvard, and Harvard even has SATs and GPAs to rely on (fairly objective stats around which you can make a guess about your odds) while YC has only heuristics based on experience and founder reputation. Never judge yourself based on something that has an open application process - it doesn't define you, it defines them. No reason not to apply, but take it as a bonus if you get in, don't take it personally if you get rejected.

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