Good article. As a yc alum who's idea(s) didn't succeed (yet), it's pretty much on point on a lot of things.
There is one thing factually wrong, or at least incomplete .. you don't get $100k (formerly $170k) for 7%. You get $11-20k for 2-10% plus $80k (formerly $150k) at an uncapped valuation. Usually that % will be low.
The fundamental epiphany of YC/pg is that that we are no where near the limit on the # of startups .. and that encouraging hackers to become entrepreneurs is a win-win for hackers, investors, users and the world in general. YC will (continue to) be incredibly successful as long as it remains faithful to this.
Also, never knew about pg's fear of flying .. very cool and inspiring thing to learn.
Comments
Good article. As a yc alum who's idea(s) didn't succeed (yet), it's pretty much on point on a lot of things.
There is one thing factually wrong, or at least incomplete .. you don't get $100k (formerly $170k) for 7%. You get $11-20k for 2-10% plus $80k (formerly $150k) at an uncapped valuation. Usually that % will be low.
The fundamental epiphany of YC/pg is that that we are no where near the limit on the # of startups .. and that encouraging hackers to become entrepreneurs is a win-win for hackers, investors, users and the world in general. YC will (continue to) be incredibly successful as long as it remains faithful to this.
Also, never knew about pg's fear of flying .. very cool and inspiring thing to learn.