101–110 of 168 posts
Earlier quoted context omitted.
I don’t get why Microsoft isn’t one of the letters. I get that it needs to be easy to say but still.
Because the acronym comes from stock markets, when FAANG were hot tech stocks. Microsoft already was old and boring at that point, so didn't count.
Earlier quoted context omitted.
But anyone can apply to YC, and I believe the application process is almost entirely meritocratic.
Can you elaborate? Most companies I’ve seen go through YC do not have any sort of revenue stream, nor a business plan or any other baselines metrics you could evaluate on a merit basis. The only factors I can see them evaluating on are subjective in nature, not objective merit based items. Nothing wrong with that, YC has produced some fantastic companies but just doesn’t seem to be a meritocratic process.
By that standard there is no meritocratic way choose the best musician, actor, chef.
And maybe that's how some people use the word. But to me it just means that you choose people based on their work, not on who they are or who they know.
Whether you evaluate the work subjectively or objectively is a whole separate matter to me.
Earlier quoted context omitted.
Yeah, I wonder why.
some regulation is useful I wonder if RCO8786 would eat at a small family owned restaurant with a low health score.
In no order:
* The business is fundamentally based on ignoring the law.
* They've done nothing but lose money, more than any private company ever.
* The money keeping them afloat is very dirty (mostly from Saudi Arabia)
* The culture is well-known to be awful.
* The drivers are completely exploited, working long days with no security and taking huge financial and physical risk.
* Their headquarters is at one of the most awful corners in the city, which they've done nothing to improve.
And in the end they'll have to start making money. Which means either increasing their prices or increasing their cut. When that day comes we'll realize what we've lost.
But yet, all the people who signed up and coded the app will be millionaires.
Smells like society misallocating value.
Ah yes, "innovation" in skirting regulations as AirBnb does. Harming local communities and extracting wealth in the name of "tech disruption".
Disrupting and extracting value from NIMBYs would definitely be on my personal “request for startups” list.
I have a hard time verbalizing it but something about Uber creating all these millionaires sickens me. In no order: * The business is fundamentally based on ignoring the law. * They've done nothing but lose money, more than any private company ever. * The money keeping them afloat is very dirty (mostly from Saudi Arabia) * The culture is well-known to be awful. * The drivers are completely exploited, working long day…
> The start-up world projects a meritocratic image, but in reality, it is a small, tightknit club where success typically hinges on whom you know. This is...so not true. My co-founder and I had hardly any network in SV. We applied to YC through the website, raised seed money after demo day. We ran on seed + revenue up to about 60 employees and we recently did a series A. If you don’t have a network, don’t be dissuade…
I have a hard time verbalizing it but something about Uber creating all these millionaires sickens me. In no order: * The business is fundamentally based on ignoring the law. * They've done nothing but lose money, more than any private company ever. * The money keeping them afloat is very dirty (mostly from Saudi Arabia) * The culture is well-known to be awful. * The drivers are completely exploited, working long day…
This is just one interpretation. Let's not forget the model is innovative, and a vast improvement on the old way of getting a ride. There's no question they have created value and the folks who showed up to work to make it happen aren't necessarily evil, scofflaws, or toxic.
I am genuinely not trying to be play dumb but what is the innovation or vast improvement? Apps like mytaxi were pretty much showing up before/after uber came to light, without violating laws or exploiting folks. Also, how does such a claim get balanced to the vast financial loss they seem to be accumulating?
> created value
For whom?
Earlier quoted context omitted.
This is just one interpretation. Let's not forget the model is innovative, and a vast improvement on the old way of getting a ride. There's no question they have created value and the folks who showed up to work to make it happen aren't necessarily evil, scofflaws, or toxic.
> Let's not forget the model is innovative, and a vast improvement on the old way of getting a ride. I am genuinely not trying to be play dumb but what is the innovation or vast improvement? Apps like mytaxi were pretty much showing up before/after uber came to light, without violating laws or exploiting folks. Also, how does such a claim get balanced to the vast financial loss they seem to be accumulating? > created…
Earlier quoted context omitted.
This is just one interpretation. Let's not forget the model is innovative, and a vast improvement on the old way of getting a ride. There's no question they have created value and the folks who showed up to work to make it happen aren't necessarily evil, scofflaws, or toxic.
> Let's not forget the model is innovative, and a vast improvement on the old way of getting a ride. I am genuinely not trying to be play dumb but what is the innovation or vast improvement? Apps like mytaxi were pretty much showing up before/after uber came to light, without violating laws or exploiting folks. Also, how does such a claim get balanced to the vast financial loss they seem to be accumulating? > created…