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Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

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Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#31

Earlier quoted context omitted.

From the latency, it looks like it doesn't cache. So it's literally transformative. If that matters, I don't know.

Where did this "editing a copy makes it transformative" meme come from? Legally, transformative means "created a substantially new work" not "mechanically applied a style change that preserves all of the original content and its original value"

It's a bunch of legal laymen conjecturing on legal issues.

Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#32
1280 Companies[1] — 1 IPO

Kingmakers... hardly. I remember going to a Commonwealth Club talk in January of 2013 titled: "Y Combinator:The Secret in this Incubator's Sauce". They talked about how YC exits are on par with or worse than any person trying to start a company. Sure there is tons of support when you're in the program and they really try to ensure soft landings through their relationships, but it's hardly a machine where your entrance into YC guarantees you a billion dollar valuation and great IPO.

Saying that, I still think YC is a wonderful program. It's what business school should be — starting and running a company; not talking about it. They have amazing leadership, mentorship, relationships and community in place which remove huge barriers from starting a company. I advise everyone I know who has a company idea to apply every semester.

[1] - http://yclist.com

Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#33
post #19
post #5

I don't know if it's a popular opinion to hold but YC has always been a kingmaker from the start. Only when Dropbox filed an IPO and is now worth a bazzilion dollars in the public market most of the media has caught up to their work. To the entire team at YC keep going there are phenomenal startups to come :)

In my opinion YC had some good wins early on but now, especially as the cohorts have gotten much larger, it’s not clear if they’re still “kingmakers”. It would be more impressive if their cohorts were still very small and had a high success rate (however you measure success).

Per company, our success rate is actually much higher now than it was in the early batches for the Dropbox era.

Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#34

Even the first batch of YC was fairly successful - reddit made three millionaires, and Loopt made two or three.

Loopt only made millionaires in a technical sense - they turned $39M of investment into a $43M exit after 7 years. I would imagine most people can do this, e.g. by sticking the money into bonds or ETFs or something. In fact, with $10M of the exit earmarked for employee retention, it seems likely that at least some investors lost money. If investors are willing to lose money on a promising company, making millionaires out of their millions isn't hard at all.

EDIT: I found this old HN thread from Loopt's exit. https://news.ycombinator.com/item?id=3683994 Top comments are telling:

"Michael Moritz (Sequoia partner) is still on the board of Green Dot, now a publicly traded company worth north of a billion dollars. Almost the entire board is Private Equity/VC guys, they do this kind of inside baseball all the time, it's no sweat off their back to do Moritz a favor."

"Buddy exits like this one and the Hunch exit are very demoralising. They make startups look like some sort of game. As you indicated, Loopt was clearly dying and yet people still got rich off of it."

(Of course, none of this should be taken as a negative view of Loopt's founder, who now leads YC - the chances of having a good exit are so low and so randomized that a qualified, smart, knowledgeable founder can still simply be unlucky. But it's still a fact that he was unlucky, and we shouldn't pretend Loopt was a successful exit.)

Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#36
Makes sense: Mastermind group. I would like to see a decentralized YC trial, i.e. a group of 10 startups/entrepreneurs, who are at a similar level, come together in a form of support group/alliance: monthly meetings, weekly email newsletters, one-to-one support & communication across several disciplines, etc... I want to track their performance and outcome after 1, 2, 3 years and compare with other existing models.

Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#37
post #14

Earlier quoted context omitted.

It's not the only service that does this. Even browsers have out of the box support for some of them.

Browsers don’t redistribute the content. That’s a crucial difference, much like you can video tape a broadcast and fast forward through the ads at home, but not if you run a pub.

I haven't looked at the code, but maybe this site doesn't redistribute anything, either.

And just because something's executing on the server side, that really shouldn't necessarily change the legality of it. (Hell, maybe Safari or Chrome look like they're doing it locally and tunnel data through a cache server.)

Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#38
post #32

1280 Companies[1] — 1 IPO Kingmakers... hardly. I remember going to a Commonwealth Club talk in January of 2013 titled: "Y Combinator:The Secret in this Incubator's Sauce". They talked about how YC exits are on par with or worse than any person trying to start a company. Sure there is tons of support when you're in the program and they really try to ensure soft landings through their relationships, but it's hardly a…

This gives a better picture than yclist

https://www.seed-db.com/accelerators

If you look at the runners up to YC, they're still far behind on a lot of metrics

Re: Y Combinator, Backer of Dropbox, Vaults from Experiment to Kingmaker

#39
post #32

1280 Companies[1] — 1 IPO Kingmakers... hardly. I remember going to a Commonwealth Club talk in January of 2013 titled: "Y Combinator:The Secret in this Incubator's Sauce". They talked about how YC exits are on par with or worse than any person trying to start a company. Sure there is tons of support when you're in the program and they really try to ensure soft landings through their relationships, but it's hardly a…

What makes you think business school is strictly for people who want to be entrepreneurs?

Now, I agree that all these new "Entrepreneurship Master's" are a bunch of BS, but business school per se might have its merits.

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