- didn't get in first time (check, different company though).
- weren't sure if good fit for b2b/ saas company (wrong).
- questioned how much value YC could provide us (many times more than expected).<p>for us going through YC, working with the partners, and joining the YC network were the best things we could have possibly done.<p>Thinking back to life pre-YC (Dec-13) to now the rate of change (progress/ growth/ knowledge) is unreal.
Sam's comments are encouraging but in the notes [1] about the application process they also mention how they look at a user's comments.<p>I signed up on HN after being a passive reader for a long time and so haven't accumulated a lot of karma.<p>I suppose lack of comments shouldn't be a deterrent as Sam suggested but may be the messaging needs to change a bit? Just my humble opinion.<p>[1] <a href="https://www.ycombinator.com/howtoapply/" rel="nofollow">https://www.ycombinator.com/howtoapply/</a>
I think the post tries to encourage more people to start startups and to apply to YC, however, I think the way this post is formulated, it gives the impression that if you have a good idea you can simply apply, which I don't think is true at all. I think it would be really helpful to write that people should only apply to YC if they either have a track record or traction. Criterion 1 is Track record consists of these three things<p>1. Built/sold something impressive before<p>2. Worked at Facebook or Google<p>3. Graduated from Stanford<p>Criterion 2 is traction, which is either 10.000 users for consumer or $5.000 revenue for B2B after 6 months.<p>In summary, if the founder does not have a track record as described above or strong traction, she/he is very unlikely to get into YC. Explaining this will prevent people without a track record from thinking that they only have to have a good idea, because if you don't have a track record you need a really good idea with a huge market and traction to get in. I don't think many founders realise that.<p>I might be wrong, so I would love for others to critizise or add to my comment. I would love to hear about examples for instance, of a recent startup where the founders neither had a track record, nor traction.
Good post but I wish there was more transparency in what YC was looking for (though I understand this is difficult, otherwise people would game it).<p>There are companies that are accepted with just an idea and companies with six figure revenues that are rejected. There are founders with bad ideas that are "funded for the pivot," and founders like Drew Houston who are rejected because their initial idea was bad.<p>It just seems kind of random.
I think people say they are "too early" because they feel that don't have the resume to get accepted. They feel like if they could only get user traction before applying you might over look our mediocre grades, work history, and personal projects. We've evaluated our own YC resumes and found they come up short. I don't think there are too many people out there who have a killer project and/or super smart founders that are hesitant to apply because they genuinely think their company is in too early of a stage.
I've got a startup with an almost ready product, a team that has started businesses before, and is bootstrapped with our own money. I'd love to give a presentation, but I'm based in Europe. Does YC do Europe? (I'm more than happy to fly. Question is whether you care where a firm is based.)
I did think of applying at some point but I actually thought of i may be too late since i already have a product and growing revenue. I was under the impression YC was just a seed accelerator. Thanks for clearing that up and encouraging us to take a look again.
The application process (like the thiel fellowship) itself teaches you a ton about yourself and your business. Although we weren't accepted to either, I came out a more insightful person (let's go round 2!).
I think it takes a certain degree of courageousness to pursue entrepreneurship in the first place, and that shouldn't get dwindled down when applying to YC as you have everything to gain and nothing to lose.
sama, I'm curious about how it works when YC invests in a company with "millions of dollars raised"; do you still take 7% and if so how do you avoid the appearance of a down round?
Correct me if I am wrong, but isn't YC for the Ivy League class type? The "I dropped out cause I am smart" type? The "I wrote a book on _____" type? "I worked at Google or Facebook" type? What about the regular type that doesn't have much to show, but wants to do great things?<p>Basically, I feel like the YC application is a pissing match of who can piss the farthest shown on paper not outside. haha :)<p>I have realized I don't fit the YC type.. so I won't apply.