Turned down by YC, only to see my idea receive funding this year. What gives?

#1

Post by Comrade » Tue, Jun 12, 2012, 7:38 PM UTC

I applied to YC last year and was subsequently denied. I was a one man show without a beta to present. I have been quietly working on my idea since, and finally have a co-founder to work with.

One of my (now) competitors just closed a funding round, a YC alum; for several million dollars. I have two questions.

Should I continue with development given the circumstances and just make mine better or yield?

Also, why on earth was I denied by YC only to see my idea get funding and mentorship with someone else? It is frustrating. If they went through any other startup incubator, I wouldn't have any reason to be upset. I should have launched first. But I came to YC first. I don't see why I wasn't chosen. To see a replica of my idea out there is a slap in the face.

I applied for the Summer funding cycle, LAST YEAR.

Re: Turned down by YC, only to see my idea receive funding this year. What gives?

#2

Post by debacle » Tue, Jun 12, 2012, 7:45 PM UTC

1. YC is about people, not ideas.

2. If they launched before you, it definitely wasn't because of YC funding. Especially if you had a huge head start.

3. There are a lot of replicas of everyone's ideas out there. Lighten up, Francis.

Re: Turned down by YC, only to see my idea receive funding this year. What gives?

#3

Post by mindcrime » Tue, Jun 12, 2012, 8:45 PM UTC

One of my (now) competitors just closed a funding round, a YC alum; for several million dollars. I have two questions.

Should I continue with development given the circumstances and just make mine better or yield?

I vote for "keep going, make your product better, storm their castle gates, and kick a mudhole in their arses." Run them into the ground, wait for them to spend their last dollar, offer to buy their company for an old Coke can pulltab and a ball of string. Laugh at their pitiful attempts to beat you, and crush their throats under your boot-heel as you gloat maniacally.

Well, maybe not quite all that, but you get the drift...

Re: Turned down by YC, only to see my idea receive funding this year. What gives?

#4

Post by Toph » Wed, Jun 13, 2012, 8:21 AM UTC

Being first means nothing. Having an idea is nothing. Its about the vision and execution. No social network are created equal just as no idea end up the same. Perhaps they didn't like that you only had an idea. Perhaps they didn't like the fact you didn't have a cofounder. Perhaps they didn't like you. Or perhaps none of that is true and its something else. Whatever the case, its not worth wasting time, energy, and brain cells on. Instead, compete if you believe you got something real. The night is you and its too early to call it quits unless you honestly already lost your fighting spirit and see no value in pursuing.