21–25 of 25 posts
I haven't seen any indications that Paul is suddenly going to start accepting older entrepreneurs. If you're over 35 ycombinator will never be an option. Which only really opens an opportunity for someone else;<).
It has been several days of discussion. There is little discussion that this is a loan, which must be paid back, or at the lender's discretion can convert into equity, without a value cap.
Nor has anyone asked or answered - how much equity are we talking about? It does make a big difference and without knowing both that and the details of each business, no one can say if this is a good deal for either side.
Much discussion acts like this is free money, or winning the lottery, or even that it's a straight trade of equity for cash.
Analysis is at the level of observation that "150 is greater than 17" therefore "it is a better deal now". But "150 is greater than 17" has little to do with anything, and such level of analysis is as financially naive as the prudence shown by those who bought million dollar houses and thought they could afford it because the initial payments were $500 a month, but which came with a variable APR that undergoes a big increase after 12 months, and then has a balloon payment greater than the original mortgage value if you make it to the end of the loan. But the monthly payment is $500 so why not eh, and ignore all other details of the contract. It seems like the financial skills here stop at is one number bigger than the other, and anything involving percentages, conditions, or interest is simply overlooked because it is beyond people's mathematical skills.
Poor math skills and an inability to read contracts are common in our society and this weakness is definitely exploited in many situations.
With the huge amount of publicity and increased likelihood that more older entrepreneurs will apply, the probability of acceptance for some teams may decrease so much as to reduce the average return on investment. $150k seriously opens the space to entrepreneurs with a family to support and may draw out people who were previously hesitant to turn down a 6 figure salary. If experience grants a significant advantage, t…
I haven't seen any indications that Paul is suddenly going to start accepting older entrepreneurs. If you're over 35 ycombinator will never be an option. Which only really opens an opportunity for someone else;<).
Why do they discriminate based on age?
http://news.ycombinator.com/item?id=9986
For sure they don't encourage older people to apply.