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The Y Combinator Experience – Remote Edition

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Re: The Y Combinator Experience – Remote Edition

#71

Post by JoeOfTexas »

artembugara wrote: post #8

Remote batch brought 1 more real benefit of YC: $125k. Before COVID when you have to relocate to Bay Area this is just a living fee for a low quality house + personal spendings. Now, 125k is almost a lot for pretty much any place on the planet. Therefore, many remote entrepreneurs can be more relaxed on raising capital. I'd say you even can decide to "bootstrap" with this money + GCP/AWS credits.

You know what's going to happen with that mentality brought to investors. They gonna demand lower pay rates, forcing people to move to lower income areas.

Re: The Y Combinator Experience – Remote Edition

#72

Post by ihaveajob »

ramraj07 wrote: post #12
iagovar wrote: post #11

Earlier quoted context omitted.

I can live off a bunch of years in Spain for that money.

Any suggestions? Spain has been a potential target for temporary relocation for me!

I'm partial to Granada because I grew up there, but it's an awesome place. About 20% of the population is college students, so that tells you about the city life. It's close to the tallest mountain range in Southern Europe, 45m from the beach, food is great and cheap, and it's small enough that you can walk just about anywhere you want, or take transit.

Re: The Y Combinator Experience – Remote Edition

#73

Post by Grustaf »

reader_mode wrote: post #63
Grustaf wrote: post #23

Earlier quoted context omitted.

Unless you're planning to hire your neighbours, why is this relevant?

Going out and being unable to speak to people on the street/in the shops or even talking to waiters in restaurants is not really a great experience for me. Presumably you go to large cities for the social interaction.

If you move to Spain presumably you’re planning to learn Spanish?

Re: The Y Combinator Experience – Remote Edition

#74

Post by ptero »

AlwaysRock wrote: post #70
koolba wrote: post #33

Earlier quoted context omitted.

You could easily do that in the USA as well. Median income is $35K and that’s before taxes and without a corporate shell to transform some of the larger living expenses into corporate pre-tax deductions.

Where did you get 35K??? https://www.census.gov/library/publications/2020/demo/p60-27... "Median household income was $68,703 in 2019, an increase of 6.8 percent from the 2018 median of $64,324 (Figure 1 and Table A-1)." 35K is closer to the poverty line in much of the USA for a family than the median income.

I think it is household vs personal. The U.S. Census Bureau lists the annual real median personal income at $35,977 in 2019.

For a startup founder, or in fact any single person, median personal income is a more relevant number.

Re: The Y Combinator Experience – Remote Edition

#75

Post by [deleted] »

AlwaysRock wrote: post #70
koolba wrote: post #33

Earlier quoted context omitted.

You could easily do that in the USA as well. Median income is $35K and that’s before taxes and without a corporate shell to transform some of the larger living expenses into corporate pre-tax deductions.

Where did you get 35K??? https://www.census.gov/library/publications/2020/demo/p60-27... "Median household income was $68,703 in 2019, an increase of 6.8 percent from the 2018 median of $64,324 (Figure 1 and Table A-1)." 35K is closer to the poverty line in much of the USA for a family than the median income.

[deleted]

Re: The Y Combinator Experience – Remote Edition

#76

Post by hctaw »

iKevinShah wrote: post #55
robhunter wrote: post #54

Earlier quoted context omitted.

Part of it are; parts of it definitely are not.

Curious as an outsider, which parts are not?

The places with higher supply of housing or land and lower demand.

To be less snarky, about 80% of Americans live in urban or suburban areas. Those tend to be more expensive due to the higher demand. The other 20% live in rural or exurban areas where land is extremely cheap.

However, access to education and healthcare outside the urban/suburban regions can be very bad.

Re: The Y Combinator Experience – Remote Edition

#77

Post by throwawaygh »

AlwaysRock wrote: post #70
koolba wrote: post #33

Earlier quoted context omitted.

You could easily do that in the USA as well. Median income is $35K and that’s before taxes and without a corporate shell to transform some of the larger living expenses into corporate pre-tax deductions.

Where did you get 35K??? https://www.census.gov/library/publications/2020/demo/p60-27... "Median household income was $68,703 in 2019, an increase of 6.8 percent from the 2018 median of $64,324 (Figure 1 and Table A-1)." 35K is closer to the poverty line in much of the USA for a family than the median income.

Assuming parent meant median income for a person, not for a household. $35K is correct. Here's the data: https://datacommons.org/tools/timeline#&place=country/USA&st...

Dual income households are pretty common these days, so a median household income of $65K with a median income of $35K makes sense.

Re: The Y Combinator Experience – Remote Edition

#78

Post by spoonjim »

JoeOfTexas wrote: post #71
artembugara wrote: post #8

Remote batch brought 1 more real benefit of YC: $125k. Before COVID when you have to relocate to Bay Area this is just a living fee for a low quality house + personal spendings. Now, 125k is almost a lot for pretty much any place on the planet. Therefore, many remote entrepreneurs can be more relaxed on raising capital. I'd say you even can decide to "bootstrap" with this money + GCP/AWS credits.

You know what's going to happen with that mentality brought to investors. They gonna demand lower pay rates, forcing people to move to lower income areas.

Not really. The investors will want you to use capital efficiently. If that means hiring remote developers in the Philippines then that’s what they will want but for other applications, hiring away the $500k engineer from Google is the only way to accomplish the task.

Re: The Y Combinator Experience – Remote Edition

#79

Post by artembugara »

JoeOfTexas wrote: post #71
artembugara wrote: post #8

Remote batch brought 1 more real benefit of YC: $125k. Before COVID when you have to relocate to Bay Area this is just a living fee for a low quality house + personal spendings. Now, 125k is almost a lot for pretty much any place on the planet. Therefore, many remote entrepreneurs can be more relaxed on raising capital. I'd say you even can decide to "bootstrap" with this money + GCP/AWS credits.

You know what's going to happen with that mentality brought to investors. They gonna demand lower pay rates, forcing people to move to lower income areas.

VC want you to efficiently spend money. Grow. Raise more. Exit. Or die ASAP

Re: The Y Combinator Experience – Remote Edition

#80

Post by dcolkitt »

I know from a personal perspective, I've considered applying to YCombinator in the past, but would never to the Bay Area.

This is just one datapoint, but I'm sure there are many others like me. How many businesses never launched, because our society has insisted that startups must happen in a single, extremely unlivable part of the country.

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