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Applications Open for Winter 2013 YC Funding

ycombinator.com

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Re: Applications Open for Winter 2013 YC Funding

#62

Post by tylermenezes »

epicureanideal wrote: post #54

I've been interested in applying to YC for quite a while, but recently I graduated and moved to the south bay (near Mountain View) for work. It really stood out to me this time that $11,000 + $3,000n is not a lot of money. With 3 founders that's $20,000. 3 founders working in the tech industry can make $20,000 PER MONTH on typical salaries. It seems like it would be more appealing to people without good paying work,…

As a startup founder, you should NOT be paying yourself anywhere near $20k/month - that's why you have equity. If the company does well, you'll make a lot when you get bought or IPO.

Re: Applications Open for Winter 2013 YC Funding

#63

Post by tylermenezes »

kaolinite wrote: post #23

PG: What would your advice be to someone with no co-founder? Apply anyway and see what you think, or don't even bother and wait until you've found someone to work with? I appreciate the issues with single founder companies however am finding it hard to locate someone with the required interest and skill in my area.

Even if you manage to get in without a co-founder, you'll probably still want a co-founder. I've talked to several YC alums without a co-founder looking to hire an employee who can serve as a co-founder.

Re: Applications Open for Winter 2013 YC Funding

#64

Post by bfe »

epicureanideal wrote: post #54

I've been interested in applying to YC for quite a while, but recently I graduated and moved to the south bay (near Mountain View) for work. It really stood out to me this time that $11,000 + $3,000n is not a lot of money. With 3 founders that's $20,000. 3 founders working in the tech industry can make $20,000 PER MONTH on typical salaries. It seems like it would be more appealing to people without good paying work,…

The way to think about this is:

burn rate = (runway)^(-1)

Reining in your burn rate as much as feasible is one of the easiest ways to extend your runway, and your chance of getting to awesomeness.

A typical job is a better way to maximize one's disposable income reliably next month or next year.

Re: Applications Open for Winter 2013 YC Funding

#69

Post by kaolinite »

tylermenezes wrote: post #63
kaolinite wrote: post #23

PG: What would your advice be to someone with no co-founder? Apply anyway and see what you think, or don't even bother and wait until you've found someone to work with? I appreciate the issues with single founder companies however am finding it hard to locate someone with the required interest and skill in my area.

Even if you manage to get in without a co-founder, you'll probably still want a co-founder. I've talked to several YC alums without a co-founder looking to hire an employee who can serve as a co-founder.

I absolutely do however I want to find someone as enthusiastic as I am, not somebody who is just coming along for the ride because I convinced them it's a great idea. Where I am currently (location-wise), finding the former will be harder than the latter, I suspect, and if possible I would rather work with someone locally rather than remotely.
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