My startup is trying to serve ALL the families that live in an apartment building or in a neighborhood (to get economy of scale and make delivery as cheap as possible), but is really hard to get older people to trust and use the internet to buy online. What are your advice to deal with this demographic?
I Am Sam Altman, President of Y Combinator. AMA
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Re: I Am Sam Altman, President of Y Combinator. AMA
#542Hello! Are partners chosen specifically for each interview (e.g. people with knowledge of the market), or are the tracks split up between groups of partners randomly?
Re: I Am Sam Altman, President of Y Combinator. AMA
#543Re: I Am Sam Altman, President of Y Combinator. AMA
#544Re: I Am Sam Altman, President of Y Combinator. AMA
#545How do you spot grit and perseverance in an entrepreneur?
Re: I Am Sam Altman, President of Y Combinator. AMA
#546What are the chances of getting funding if I want to focus on my home country (Brazil) as my main market?
Re: I Am Sam Altman, President of Y Combinator. AMA
#547Earlier quoted context omitted.
>Engineers at startups make $100k+, sometimes much more. I don't think people are being asked to subject themselves to unreasonable financial strain. Is $100k enough for a person to live without roommates within 20-30 minutes commute from said startup? Eat healthy food? Pay student loans? Have health insurance and build savings? I'm not from the Bay Area- this is a serious question.
I was making $100k and was able to find a small apartment in SF AND save about $2k a month (granted, I've finished paying my student loans). Not needing a car, and the ability to walk / scooter / public transport everywhere for relatively cheap, is a huge money saver! My half of the rent each month, as of today in SF, is $1300 ($2600 for the whole apartment in SoMa), but you need to take into account the money I'm no…
Consider you're slightly older and thinking of starting a family. Will your income cover: extra food and clothing for a child? day care or maternity leave? saving for college? saving for retirement? a larger apartment for your growing family? a down payment on a house or car? car payments or a mortgage? investment income? Is your company paying for your dinner because they expect you to work at night?
$100k in SF is a reasonable amount of money. But as your expenses begin to grow, you may wonder when your earnings will grow in proportion. Unfortunately, while many industries value their workers more as they grow in experience, the SV software industry has taken a unique stance that experience is actually a liability. Perhaps because the SV software industry runs on the notion of maybe-someday compensation, which is a palatable proposition mainly to the young and naïve.
Re: I Am Sam Altman, President of Y Combinator. AMA
#548Good evening Sam, thanks for taking some time around. - What do you think of similar structures burgeoning in Europe? - Are they a good first step before applying to YC?
Re: I Am Sam Altman, President of Y Combinator. AMA
#549Having slow organic growth for our startup reduce our chances of an interview? What is the average growth week-over-week YC looks at?
We tell startups during YC to shoot for 10% weekly growth in their key metric.
Re: I Am Sam Altman, President of Y Combinator. AMA
#550How often does YC fund early stage companies that don't even have a functional prototype?