How Y Combinator Changed the World

This is like the 18th time this came through

> Their ideas reflected YC’s implicit view that for every problem in the world, there is a startup solution

I dream of a world where we try to solve problems first and monetize them second, and I don't mean growth hacking.

> It’s Y Combinator’s world, and we’re all invested in it.

There are many people who resent this world. I'd like to live in a world where success isn't measured by money.

I’ve applied not less than 7 times to YC. Rejected every time.

Some of our customers are multi billion dollar companies.

We are profitable, growing and got accepted by their direct competitor.

I still believe YC influence is amazing and I have nothing but respect for all the people involved in the program but I like to remind fellows entrepreneurs that any accelerator is just a tool.

If you want to build something, no amount of rejection will stop you.

Happy 2022!!

This is similar to the idea that it doesn't matter where you go to college - because the things that get you into top X schools are the same traits that correlate with success afterward. This paper is a study that makes that argument: https://www.nber.org/papers/w7322 (disclaimer - I only read the abstract)

Also - in fairness to YC - there are a staggering number of companies that are started every year. I don't have the stats but I would guess that YC outperforms the totality of the startup market.

Also potentially interesting is how YC changed the VC market. [0] is an essay from PG that talks about how VC funding used to work. [1] is a short essay that starts to get at why YC is different. (These should be read with a grain of salt, since PG is the founder of YC)

TLDR is that YC was the first firm to fund a lot of small companies, as opposed to a medium amount of medium sized companies. Similar to what Square did for payments by offering credit card readers to individuals, YC offered funding to super small companies where previously it was not available.

The impact of this on the world is up for interpretation, but at least one positive result is a lower barrier of entry for entrepreneurship.

I am far from an expert so if this is inaccurate feel free to correct me.

[0]http://www.paulgraham.com/venturecapital.html [1]http://www.paulgraham.com/whyyc.html