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I Am Sam Altman, President of Y Combinator. AMA

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541–550 of 757 posts

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

#541

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?

There is a reason advertisers can't be bothered with people outside of the 18-49 demo

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

#542
post #184

Hello! 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?

We randomize everything first, and then look through each morning to see if some interviewees need domain expertise, and then swap those around as best we can.

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

#543
I get the feeling that the clarity of the idea and outward, ease of discerning progress are the principle criteria used to distinguish the promise of the team and idea. In the case of progress, especially early progress, being full of'black triangles', accomplishments mostly only appreciated by those in the know, is there much effort put into trying to see that? Or do you more stick to the clearly understandable progress?

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

#545

How do you spot grit and perseverance in an entrepreneur?

We ask about when they've done the impossible. You also get a pretty good feel for this after asking someone hard questions for 10 minutes. Not pushing back at all is bad, and pushing back too hard is also bad.

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

#547
post #376

Earlier 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…

So you get a small, shared apartment, dinners at work, no car, and $2k/month left to save. Honestly, that's not bad, but I'm guessing you're young.

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

#548
post #75

Good 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?

In general, no. If you want to apply to YC, just apply to YC. Going through some other program first is a negative--the advice is usually bad, there's extra dilution, etc.

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

#549

Having slow organic growth for our startup reduce our chances of an interview? What is the average growth week-over-week YC looks at?

Slow growth is bad, yes. A lot of our questions will be about why it's slow and how you plan to make it faster.

We tell startups during YC to shoot for 10% weekly growth in their key metric.

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