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How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
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Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#2I know pollground decided to go back to school after getting y combinator funding
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#3Going back to school is not identical with giving up. Some founders go back to school and keep working on the startup while there. However, those do so much worse than the people who work on the startup full-time that going back to school seems, in practice, not too far removed from a death sentence for a startup.
Off the top of my head, I'd guess we've had about 8 startups where the founders went back to school. It doesn't only happen with summer batches. Founders from winter batches do it too.
Usually the reason is that the startup isn't doing very well. However, that judgement depends a lot on how determined the founders are. One reason we now shy away from funding people still in school is that they often unconsciously want the startup to fail, because the idea of dropping out frightens them.
A lot of startups look bad after 3 months. Someone who's out of school and has to make it work or get a job in a cubicle will say "don't worry, we'll figure out how to make it successful."
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#4There will invariably be those who don't see the success they set out for, and they fall back to their original path.
That's why a founder's commitment is so critical. When your one plan is to become a startup founder, regardless of school or any other factors, you will do your damndest to make something of value and succeed. It's part _doing_ it better than the next guy and _wanting_ it more than the next guy.
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#5Going back to school is not identical with giving up. Some founders go back to school and keep working on the startup while there. However, those do so much worse than the people who work on the startup full-time that going back to school seems, in practice, not too far removed from a death sentence for a startup. Off the top of my head, I'd guess we've had about 8 startups where the founders went back to school. It…
Were there any of the (approx.) 8 groups where you felt: "These guys are really close to having something. It's a huge mistake for them not to continue pursuing this."?
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#6I guess it really depends on how hungry you are and how much you believe in your product. I'm only 24 and still in school as of the moment, yet I'm more than willing to leave school in order to initiate my start up. Come to think of it, I'm willing to travel half the world just to get advice and connections from YC.
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#7Going back to school is not identical with giving up. Some founders go back to school and keep working on the startup while there. However, those do so much worse than the people who work on the startup full-time that going back to school seems, in practice, not too far removed from a death sentence for a startup. Off the top of my head, I'd guess we've had about 8 startups where the founders went back to school. It…
Were there any of the (approx.) 8 groups where you felt: "These guys are really close to having something. It's a huge mistake for them not to continue pursuing this."?
Yes, but that is not surprising, because the biggest predictor of success is determination. In startups, merely being determined to succeed tends to make it so, if you're reasonably smart and flexible.
The Kikos are the only startup so far that has died of causes not of their own making. As everyone will soon realize when they launch justin.tv, they did not fail because of lack of balls.
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#8I guess it really depends on how hungry you are and how much you believe in your product. I'm only 24 and still in school as of the moment, yet I'm more than willing to leave school in order to initiate my start up. Come to think of it, I'm willing to travel half the world just to get advice and connections from YC.
Where are you based jamonklad?
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#9Earlier quoted context omitted.
Were there any of the (approx.) 8 groups where you felt: "These guys are really close to having something. It's a huge mistake for them not to continue pursuing this."?
Yes, but that is not surprising, because the biggest predictor of success is determination. In startups, merely being determined to succeed tends to make it so, if you're reasonably smart and flexible. The Kikos are the only startup so far that has died of causes not of their own making. As everyone will soon realize when they launch justin.tv, they did not fail because of lack of balls.
Startups that execute with the end in mind do much better than those that code with ambiguity. Unfortunately, I feel that YC might be encouraging startups to not strategically plan ahead due to the emphasis put on "The original idea is not important because it will change anyway". Yes, ideas do change, but that does not give us the excuse not to make a long term plan before they do.
Startups should always have a week long tactical plan and a rough strategic goal stretched upto three months.
"If you don't know where you're going, you will end up somewhere else."
Re: How many summer Y Combinator fundees decided not to continue with their startup and go back to school? and what were the reasons?
#10There will invariably be those who don't see the success they set out for, and they fall back to their original path. That's why a founder's commitment is so critical. When your one plan is to become a startup founder, regardless of school or any other factors, you will do your damndest to make something of value and succeed. It's part _doing_ it better than the next guy and _wanting_ it more than the next guy.
That is a good point! Dropping out of school is analogous to "buring all your ships". Sun Tzu writes that "put your enemies in a spot where they have no place to go, and they will die before fleeting. If they are to die then, what can they not do? Warriors exert their full strength. When warriors are in great danger, then they have no fear. When there is nowhere to go, they are firm, when they are deeply involved, they stick to it. If they have no choice, they will fight to death."
You do your "damndest" when your success depends on the success of your startup.