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Y Combinator’s European founder intake continues to grow

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Re: Y Combinator’s European founder intake continues to grow

#231

Post by sschueller »

_qsgk wrote: post #116

I am an American founder that accidentally built a company in Europe. I hired my first person there, and through the path of least resistance, most of our 45 person team is based in Europe. I believe I am playing 'business' on easy mode compared to European founders. As an American founder it's pretty easy for my US company to pay my European team as contractors. European founders have to comply with European employm…

How about you build a actual sustainable business that doesn't take part of its profits out of cheating its "employees".

If you can't pay your employees you do not have a sustainable business model in the country you operate.

Re: Y Combinator’s European founder intake continues to grow

#232

Post by WastingMyTime89 »

_-david-_ wrote: post #200
WastingMyTime89 wrote: post #161

Earlier quoted context omitted.

> The US private VC model is superior in every way. You do realize that most of the innovation the US pride itself about was in fact directly funded by the state through DARPA, the NSF, NASA and military contracts: Fairchild Semiconductor, the internet, Google, Space X, Moderna...

The government isn't funding a lot of those things now. Also, Europe has access to the new technology that came out of the US government funding so it is irrelevant to bring it up. Europe has access to the internet, they have a space program, etc.

> so it is irrelevant to bring it up

Actually I do think it's very relevant to point that most of the most valuable US innovations were state funded as a reply to someone asserting the absolute superiority of private VC funding. The USA is very interventionist for a country promoting free markets as close to a religion.

I am not entirely sure what this has to do with Europe however.

Re: Y Combinator’s European founder intake continues to grow

#233

Post by scrollaway »

Grustaf wrote: post #224
scrollaway wrote: post #222

Earlier quoted context omitted.

Yeah, you don't have a solution, you're just using the opportunity to complain about "the poor" (cf your other post specifically). "The solution is not to live this close to the edge" is akin to "the solution to car accidents is to not get into car accidents".

I wonder if you actually read what I wrote. I haven't written a single word of complaint about the poor. I am complaining about payday loans, I don't think it's a good idea, even when they are interest free. The long term effect is likely to be mostly harmful. I haven't claimed to have a solution, what I am saying is that ideas that increase saving are better. I did not saying anything like "the solution is to not li…

You haven't been poor. There is nothing more obvious than that when someone's first suggestion is to turn off the heating, and their second one is to "gamify micro-saving". And you might be well-intentioned but your posts come across as incredibly arrogant because of that.

This isn't a gotcha, or some gatekeepy way of saying "you can't fix poor people's problems if you haven't been poor". But your first step would be to try to understand why a better access to earned wages is so important and impactful that it is, in fact, potentially worth giving up a bit of money for. Having access to cashflow is a problem you can face at any level of income. Surely you understand it? (I mean, you're suggesting "financial literacy education"; I can't imagine you don't understand how important this can be…)

For example right now, if you're poor and your situation calls for it, you might be taking a shittier job with worse pay just because it pays every two weeks instead of every four weeks. So having instant access to your wages may let you take a better job, and have a FAR GREATER IMPACT THAN SAVINGS.

The above services by the way aren't payday loans. Those are extremely short term highly predatory one-time loans bound entirely to the customer. Services such as the ones Cashflow and Revolut are working on are more akin to: "you've already worked this much, so you have access to this % of your salary already", and they're bound to the employer.

I'm not saying financial literacy wouldn't help, but fixing the perverse mechanisms that are happening when you're, as you said, close to the edge is what would have the most impact without requiring changes from the people themselves. Instant wages have a potential to kill the payday loan business and that's a big deal, even if it's not perfect.

Re: Y Combinator’s European founder intake continues to grow

#234

Post by Grustaf »

scrollaway wrote: post #233
Grustaf wrote: post #224

Earlier quoted context omitted.

I wonder if you actually read what I wrote. I haven't written a single word of complaint about the poor. I am complaining about payday loans, I don't think it's a good idea, even when they are interest free. The long term effect is likely to be mostly harmful. I haven't claimed to have a solution, what I am saying is that ideas that increase saving are better. I did not saying anything like "the solution is to not li…

You haven't been poor. There is nothing more obvious than that when someone's first suggestion is to turn off the heating, and their second one is to "gamify micro-saving". And you might be well-intentioned but your posts come across as incredibly arrogant because of that. This isn't a gotcha, or some gatekeepy way of saying "you can't fix poor people's problems if you haven't been poor". But your first step would be…

I don't think I have ever claimed to have been poor. On the contrary I grew up in a a very well to do place. But that's irrelevant.

> So having instant access to your wages may let you take a better job, and have a FAR GREATER IMPACT THAN SAVINGS.

This statement is completely baffling. Clearly, if you had 2 weeks worth of savings you would not need to take "a shittier job with worse pay just because it pays every two weeks instead of every four weeks". Imagine if you had two months worth, or six.

These are definitely payday loans by the way, the salary is not "yours" until you've received it, which per the contract happens at the end of the month, or week or whatever. So by definition you are borrowing money, even if there is no interest.

I agree that it's very positive if this can kill off traditional, predatory pay day loans, but I don't agree that this is a long term solution. And honestly, I think it will only increase the need. If people start living week to week instead of month to month, they will be MORE likely to need payday loans.

If you take any poor person in Latin America, you seem to imply that their situation, where they are constantly 5 days away from starvation, is inevitable. Remember, we are not talking about people that can't work, these people can and do work, they just don't have any savings and live hand to mouth. I claim that in the vast majority of these cases, the situation is avoidable.

Just consider the mathematics of it. What would it take to be 30 days away from starvation instead of 5? It's enough to lower your expenses by 8% for a year. Or 1% for 8 years. Or working 8% more for 1 year. Or starting to work a few months earlier.

If you have your own family, well then clearly the situation was entirely avoidable. You could have waited a few months to start the family, that would have solved it.

Re: Y Combinator’s European founder intake continues to grow

#235

Post by scrollaway »

Grustaf wrote: post #234
scrollaway wrote: post #233

Earlier quoted context omitted.

You haven't been poor. There is nothing more obvious than that when someone's first suggestion is to turn off the heating, and their second one is to "gamify micro-saving". And you might be well-intentioned but your posts come across as incredibly arrogant because of that. This isn't a gotcha, or some gatekeepy way of saying "you can't fix poor people's problems if you haven't been poor". But your first step would be…

I don't think I have ever claimed to have been poor. On the contrary I grew up in a a very well to do place. But that's irrelevant. > So having instant access to your wages may let you take a better job, and have a FAR GREATER IMPACT THAN SAVINGS. This statement is completely baffling. Clearly, if you had 2 weeks worth of savings you would not need to take "a shittier job with worse pay just because it pays every two…

Your comments are rooted in assumptions and an incorrect view of the low-income world, which makes a reasonable discussion impossible without preparing a whole lecture; and I don't have that patience for just a random internet commenter.

All I ask is you stop presuming you know how to fix this when you're so deeply, deeply unaware of what the problem even is.

Re: Y Combinator’s European founder intake continues to grow

#236

Post by Grustaf »

scrollaway wrote: post #235
Grustaf wrote: post #234

Earlier quoted context omitted.

I don't think I have ever claimed to have been poor. On the contrary I grew up in a a very well to do place. But that's irrelevant. > So having instant access to your wages may let you take a better job, and have a FAR GREATER IMPACT THAN SAVINGS. This statement is completely baffling. Clearly, if you had 2 weeks worth of savings you would not need to take "a shittier job with worse pay just because it pays every two…

Your comments are rooted in assumptions and an incorrect view of the low-income world, which makes a reasonable discussion impossible without preparing a whole lecture; and I don't have that patience for just a random internet commenter. All I ask is you stop presuming you know how to fix this when you're so deeply, deeply unaware of what the problem even is.

As constructive as this is, perhaps you could elaborate on what the problem is that keeps millions of people in a situation where they earn _exactly_ as much as they need to survive, year in and year out?

Of course I can not expect a private lecture from you, being a mere random commenter, but perhaps you could point me to some of your existing lectures or writings that explain why I am so wrong?

According to your profile, you are a software developer in Switzerland that likes to figure skate. Maybe it's my prejudice, but it doesn't sound like you would have much personal experience of third world poverty either.

Re: Y Combinator’s European founder intake continues to grow

#237

Post by scrollaway »

Grustaf wrote: post #236
scrollaway wrote: post #235

Earlier quoted context omitted.

Your comments are rooted in assumptions and an incorrect view of the low-income world, which makes a reasonable discussion impossible without preparing a whole lecture; and I don't have that patience for just a random internet commenter. All I ask is you stop presuming you know how to fix this when you're so deeply, deeply unaware of what the problem even is.

As constructive as this is, perhaps you could elaborate on what the problem is that keeps millions of people in a situation where they earn _exactly_ as much as they need to survive, year in and year out? Of course I can not expect a private lecture from you, being a mere random commenter, but perhaps you could point me to some of your existing lectures or writings that explain why I am so wrong? According to your pr…

> As constructive as this is, perhaps you could elaborate on what the problem is that keeps millions of people in a situation where they earn _exactly_ as much as they need to survive, year in and year out?

This isn't the claim, and one reason it's difficult to have a conversation around this with you right now.

I'm not in Switzerland but I do like to figure skate. I'm also very well off nowadays. I was raised by divorced parents, spending some years in the middle-class world, and quite a few more in Greek poverty (ranging from mild to severe, and at one point back in France, inches from the street).

I managed to get to where I am today thanks to safety nets and various EU benefits (as well as some amazing blind luck). I'm under no illusion that I'm both greatly priviledged and extremely lucky. But I do have some relevant experience, yes.

Re: Y Combinator’s European founder intake continues to grow

#238

Post by martin_a »

SuoDuanDao wrote: post #190
martin_a wrote: post #174

Earlier quoted context omitted.

> and anyway is now probably self sustaining As a German this is an interesting point. While I'm no big fan of the big cities (Berlin, Munich, Hamburg) we see lots of successful* startups happening and gaining track there and in smaller towns. University cities are often doing fine, too and are slowly but surely developing startup structures and everything else. To me this looks more promising than concentrating all…

I've also heard that the German banking system is much more geographically diverse, with many smaller banks giving business loans to businesses in their immediate geographic area. If that's still the case, it would make sense that there would be less concentration of capital and therefore entrepreneurship.

That's true, too. There are lots of so called "Volksbanken" ("peoples' banks") and "Sparkasse" ("savings bank", see this: https://en.wikipedia.org/wiki/Savings_bank) which act very local and are sometimes rather small especially in the more rural areas.

Nevertheless those banks are often the biggest lenders to local businesses and startups in need of credit (my brothers' wife is working in such a department) although that is not VC like in "burn it if you need to". German banks are more risk averse, at least the most of them.

Re: Y Combinator’s European founder intake continues to grow

#239

Post by Grustaf »

scrollaway wrote: post #237
Grustaf wrote: post #236

Earlier quoted context omitted.

As constructive as this is, perhaps you could elaborate on what the problem is that keeps millions of people in a situation where they earn _exactly_ as much as they need to survive, year in and year out? Of course I can not expect a private lecture from you, being a mere random commenter, but perhaps you could point me to some of your existing lectures or writings that explain why I am so wrong? According to your pr…

> As constructive as this is, perhaps you could elaborate on what the problem is that keeps millions of people in a situation where they earn _exactly_ as much as they need to survive, year in and year out? This isn't the claim, and one reason it's difficult to have a conversation around this with you right now. I'm not in Switzerland but I do like to figure skate. I'm also very well off nowadays. I was raised by div…

What is the claim then? Why is it inconceivable that most of these people would be able to save up a few weeks worth of wages?

Re: Y Combinator’s European founder intake continues to grow

#240

Post by filoleg »

tohmasu wrote: post #228
filoleg wrote: post #211

Earlier quoted context omitted.

Agreed. "Selling user data" is just a nice catchphrase thrown around by people who didn't look into how FB ads really makes money and how they really work. Just at a cursory evaluation, it makes no sense, because if Facebook sold the data directly, why would advertisers even need Facebook after that? All of those questions can be answered by simply playing around with FB Advertising UI for less than an hour. But hati…

Hey guys, I just wanted to say that it looks completely natural that a short sarcastic post about social media in general gets followed by two suppressing posts that very specifically defend Facebook, completely have each others backs and also delivers a little ad hominem.

If you are trying to imply that I am shilling for FB or a FB employee, you are welcome to DM me, and I can send you an email from my work address as a proof (which is another known big tech company, one of those that don't have their own ad platform, so I literally have no horse in this race).

Did you find anything factually wrong with what I said about how running FB ads works? Because you just accused me of being a shill, but you weren't able to provide a counterpoint to any factual things I've said in my original comment.

Also, I am not defending FB. I literally said they have plenty legitimate things to be criticized for. But with baseless accusations about FB like the ones higher in the thread, they just cause legitimate criticism to get washed out and get lumped along with baseless accusations.

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