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I Am Sam Altman, President of Y Combinator. AMA

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471–480 of 757 posts

Re: I Am Sam Altman, President of Y Combinator. AMA

#471
post #310

How does the partnership structure work at YC? What does it mean to be a part-time partner? Do all partners get carry?

It's a flat partnership--we all get the same economics (including me). If you want a salary, it trades off against your equity. Part-time partners get less equity and spend less time on YC.

Of course, the cash vs. equity exchange rate is a subject of curiosity. :)

Re: I Am Sam Altman, President of Y Combinator. AMA

#473
post #455

Do you accept some teams without a business model?

Yes, but not without an idea. We tried funding teams with no ideas at one point. It didn't work. It turns out that good founders always have ideas.

Thank you Sam :) We already have an idea

Re: I Am Sam Altman, President of Y Combinator. AMA

#474

Dunno if this has been asked already, ever think about doing a yc in in Dublin, Ireland?

We fund companies from all over the world. The sacrifice of moving for 3 months pales in comparison to other sacrifices you have to make to start a successful startup.

Re: I Am Sam Altman, President of Y Combinator. AMA

#475
post #396

Hi Sam. If the company applies for the second time with some progress made, is it treated differently, like "Ahhh... the same guys. Let's see what they have done since last time"? Does it matter at all?

Yes. If you reapply with the same idea, the first thing we look at is progress since last time.

Follow up question then. Last time we were applying with no product and no customers. Now we have product and customers (even some YC partners and many of alumni). I heard that YC alumni can vote up on the application of the startup they believe in. Is that true? I guess it might help:)

Re: I Am Sam Altman, President of Y Combinator. AMA

#479
post #407
post #349

Earlier quoted context omitted.

It's a personal choice for workers. If you're an engineer and you want a guaranteed $250k per year, go work for a financial firm. Nothing wrong with that decision. Everyone gets to make his or her own. Engineers at startups make $100k+, sometimes much more. I don't think people are being asked to subject themselves to unreasonable financial strain. It is indeed "maybe-someday" competition. When you work at a startup,…

> When you work at a startup, you're acting like an investor but investing your time instead of your money. True, except: (a) An employee can probably only work for one startup at a time, and begins vesting after a year. That's like asking an investor to bet on at most 1 company per year. (b) Employers tend to give substantially less detailed information about their business, financials, etc to prospective employees…

I forgot (d) "Real" investors in the same startups are often getting preferred shares while we get common shares.

Re: I Am Sam Altman, President of Y Combinator. AMA

#480
post #470

Hi Sam, How does YC look to foreign applications? Do you have any plan to make improvements for participation of foreigners like visa support, logistics etc.

We help with visas. But part of being a founder is figuring out how to overcome obstacles by yourself.
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