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I am Sam Altman, President of Y Combinator – AMA

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351–360 of 559 posts

Re: I am Sam Altman, President of Y Combinator – AMA

#351

I currently have no 'unicorn'-ideas. Applying doesn't seem useful at this moment. Is there a list of startups that need help? If so, why did they get funded when the team isn't right yet?

I wonder if the AirBnB team thought they were a unicorn when they started? Likely not.

Re: I am Sam Altman, President of Y Combinator – AMA

#352
post #335

The cost of rent in the Bay Area is getting really high, both SF and down south. The archetypal startup in a garage in Palo Alto is not as affordable as it once was. For various policy reasons it's really hard for new people to move to the area without paying an arm and a leg in rent. Do you or YC have any thoughts on things you could do to help this, if any?

The bandaid is we increase the amount of money we give to teams.

We do have some longer-term thoughts if the area can't get its act together and fix the problem.

Re: I am Sam Altman, President of Y Combinator – AMA

#353
In your interview with Kara Swisher on Decode, you talked about how investing in the stage of companies that YC invests in requires a very different skillset and a lot more hands-on work than traditional later-stage VC funds are willing to do.

How did YC gain such a huge advantage in doing this over the other incubator/accelerators?

Re: I am Sam Altman, President of Y Combinator – AMA

#354

Hey Sam! What are you (and YC) doing to enable more founder diversity? Any initiatives to reach out to black/latino founders to invite them to apply?

We do a lot of different outreach, but to your specific question, we recently did this: http://blog.ycombinator.com/yc-open-office-hours-for-black-a...

Re: I am Sam Altman, President of Y Combinator – AMA

#355

Hi Sam, Any tips on balancing uni, research there (pre-doc) and a startup (co-founder, CTO)? Do you think it is necessary to give up one for another?

I don't think you can do all 3 well at the same time, nor should you try.

Pick what you most want to excel at for now and focus on that.

Re: I am Sam Altman, President of Y Combinator – AMA

#356
Hi Sama, I'm the founder of nanowe. We're launching an IoT product this year and have a great team working all days and nights on it.

I get the feeling our startup can't be that bad not to be a part of YC as we have everything in place but need a great platform & community to showcase what we're building. Hardware is tough and takes more money and we're about to raise a convertible note using YC SAFE docs. Does this make our case weaker to be accepted into YC?

Re: I am Sam Altman, President of Y Combinator – AMA

#357
post #356

Hi Sama, I'm the founder of nanowe. We're launching an IoT product this year and have a great team working all days and nights on it. I get the feeling our startup can't be that bad not to be a part of YC as we have everything in place but need a great platform & community to showcase what we're building. Hardware is tough and takes more money and we're about to raise a convertible note using YC SAFE docs. Does this…

Definitely not--we certainly understand that some startups need to raise more money than others.

Re: I am Sam Altman, President of Y Combinator – AMA

#358
post #179

Hi Sam, I'm a graduating college senior, and I've accepted a job at a very big company in the tech industry. Right now, it makes the most financial sense for me to join a big company and pay off my debt quickly, but at some point in the future I'd love to scratch that entrepreneurial itch and apply to YC. How do I maximize my time at a big company to gain relevant skills to keep the possibility of a startup open in t…

The best things you can do there are meet great potential cofounders, and get better at writing software. Also don't get sucked into living an expensive lifestyle when you get that high-paying job--this has killed many people's once-promising futures.

This is good advice! First came my love for sushi, then the condo, then the BMW, and now I can't live poor anymore.

Re: I am Sam Altman, President of Y Combinator – AMA

#359
Is there a place for Tarsnap at YC?

Applying for YC funding doesn't make sense for several reasons:

1. I want to be king, not rich; everything I hear tells me that YC pushes companies to grow fast and increase their valuations, and that's something I fundamentally don't care about. I know that I'm stubborn enough that this would just result in a lot of frustration on both sides.

2. Tarsnap doesn't need the money. It's solidly profitable, and I honestly have no idea what I would do with investment money.

3. I don't want to live in the bay area -- not even for 3 months. Granted, this seems like it may be less of an issue now that it's possible for people with pre-existing conditions to get medical insurance; but the bay area is fundamentally not somewhere I can ever imagine myself wanting to live.

4. Converting Tarsnap into a US corporation would eat a lot of time and money. I completely understand why it's necessary for companies YC is going to invest in; but it's another reason why having YC invest in Tarsnap doesn't make sense.

I think YC and its portfolio companies are doing great and interesting things, and I'd like to be part of the community... but as explained above, taking funding doesn't make sense; when I applied for the YC fellowship (I know it was a stretch) you told me to apply for funding instead; and you haven't asked me to be part of YCR.

Is there some other option here?

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