I've said this before, and so have many others, but it's worth repeating: Choosing to apply to YC was one of the best decisions of my life.
Some reasons I love YC:
- My cofounder and I were in the Summer 2010 batch. We've changed our idea, made mistakes, and failed repeatedly. Yet in all that time, pg and co have had and continue to have our backs 100%.
- One thing I've learned in life is that who you choose to surround yourself with matters immensely. Doing YC means surrounding yourself with great people.
- Every single YC partner is a genuinely lovely person. The other week we got a heartwarming and encouraging email from Kate, YC's architect.
- The YC network is unparalleled. In the past week, I've relied on it half a dozen times.
- I don't know how to put this, but YC has taste. Where others are political or indirect or care about appearances or do things without thinking about them, pg and co are the opposite: Direct, thoughtful, and good. YC is good in much the same ways pg's essays are good, if that makes any sense.
If you want a little honest feedback on your application before you submit it, feel free to contact me. I was the first engineering hire at justin.tv, I'm the cto of ZeroCater now, and I love talking about startup ideas.
Just over a year ago I drove my friend, Josh Buckley, from LA to SF for his YC interview. Since then I have had the pleasure of watching how YC can help transform a number of things:
1.) His product, www.minomonsters.com, has evolved from a nearly-finished Facebook game into beautifully designed and highly engaging iPhone app.
2.) Josh is now an alien (with extraordinary ability) due to his O1 visa.
3.) He has grown the business from a one-man-band hiring freelancers into a proper company with an office and staff.
4.) His network has expanded exponentially.
5.) He has found a truly great cofounder who makes him raise his game.
6.) He has ridden the emotional roller-coaster of fund-raising on his own and that has transformed him into an even better businessman.
7.) The process has taught him the art of focussing on one huge, seemingly-insurmountable goal. He has sacrificed a lot but gained even more.
8.) Despite his incredible work-ethic and dedication to his startup, one thing hasn't changed. He is still a great friend and always makes time for those he cares about.
I met Josh about 4 years ago. He was on a mission. YC was a fantastic catalyst for that mission. He provided the spaceship, they have provided the rocket-fuel.
Would YC ever fund a not-for-profit startup, as a form of philanthropy?
Part of the reason I ask is that for-profit and not-for-profit organizations have different kinds of leverage, and for some activities not-for-profits have big advantages. It's striking that some major success stories like Khan Academy and Wikipedia are not-for-profit.
I imagine that having a YC-like model applied to not-for-profits might produce some remarkable new startups, maybe even entirely new types of startup.
Although non-profits has good tax breaks, it's much more difficult to get funding since it's "non-profit", hence no return for the investor capital. Why not try to create a social enterprise instead? You can still get a bit of tax breaks, AND you can earn profits for yourself and investors.
One of the things I have heard a lot of founders say when asked if they are considering doing YC is that they are already "down the road" with their company - as in, they have already launched, or have customers, or investor attention.
I know dozens of startups that went through YC at this stage, and they will all reiterate how beneficial YC was for them.
If you're running a startup I really cannot think of a singular reason as to why you wouldn't apply. (the biggest testament to this is probably the YC alumni doing YC again with their new company.)
I'm not sure if we should apply. We already did three times and were rejected. It kind of put us off psychologically, because we really felt we matched what YCombinator says they look for. This is from last year:
Since then, we have raised a little over $100k in our first round, increased our team, and got 20,000 people using us daily out of 200k (lifetime) installs. We applied and explained everything -- but again just got a form letter a couple months later.
So now we are up to 40k daily users, and out of 600k installs, about 200k people keep our apps and use them (just not daily). We are about to generate profit. We are talking to investors about a 5mil pre money valuation. I am wondering what is the point of applying to YC again ... can anyone who has been in a similar situation tell me what your experience was?
Going through YC was an incredible experience and even just going through the application process really forced our team to answer a lot of important questions for our business. If you want to do a startup and are in a position to give it your all - it could only help your chances of success to apply.
My potential co-founder is currently here (S.F.) on an H1B visa and it will be a year or two before he receives a green card. Does this rule him out as a co-founder? We've been investigating the options but so far a definitive answer has eluded us. I'm hoping someone here has dealt with this situation before and can enlighten us.
H1B is tied to a single company and if your potential co-founder switches to your newly formed company he has to get his H1B transfered. There are also many implications with regards to the green card process as it is tied to the sponsoring company. In short, talk to a lawyer before getting started!
There are lots of people with great ideas and products out there who are not able to just up and quit jobs and move somewhere for months on end. It would be nice to see an option for people like this. Not everyone is single college student, what about established tech professionals with houses and mortgages, or even a family.
I agree with this in concept, but that doesn't mean that YC must fill that niche. Along those lines, it would be nice if there was a good system for getting hired as an employee (not co-founder) of an early stage startup (and not just in SF).
I agree that this isn't necessarily Y Combinator's responsibility to fill but somebody needs to create this.
I've interviewed plenty of entrepreneurs that built successful companies with families and/or not going at it full time for 3 months with insane mentorship.
It'd be great to see a dedicated resource that fit around this sort of lifestyle.
This is exactly one good reason for the emergence of additional geo-centric incubators / accelerators. I know that, in my own case, it would probably be a tough sell for my co-founders to up and move to CA for three months, since they are both married and have additional commitments that I don't.
But, luckily, there is Triangle Startup Factory, which has just re-opened and has funding for at least a few cycles over the next couple of years. This works because we could stay here if we are accepted.
Anyway, the point being, YC isn't the only game in town, especially if "town" is somewhere other than the Valley. Of course not every town has an incubator, but hopefully more will continue to emerge over time and spread the opportunity around a bit...
I'm curious to know the financial situations of those who apply to YC. You don't have to give specifics, but has anyone gone through YC with a lot of school debt? (>$20k, >$40k?) How did you manage this?
For those who haven't gone through YC but do have a lot of school debt or otherwise, how do you think you'll manage?
I'm happy to offer feedback on your application as well. I was in the YC summer 2006 batch, currently a cofounder of Sincerely. You can reach me at bryan-at-sincerely
"How do we choose who to fund? ... We look for brains, motivation, and a sense of design. ..."
I'm aware little things change each time this is posted but it's the first time I've seen design mentioned. Just curious, when was it added (or was it always there and I just missed it?).
We're in the current cycle and I'm personally willing to help with applications, but only those who are hyper motivated and are willing to help themselves. Couldn't say enough good things about people behind YC. We feel lucky to be a part of such a wonderful community. Our startup is health focused and I feel that's the area I can help with the most.
I'm curious why YC likes 2-3 founders over 4-5. Do more people = more potential for internal drama? Or are larger groups more resistant to changing on the fly? I would think that 4-5 talented go-getters would be better than 2-3.
The application links are a special type that don't expire for day, so this should not be happening. But I know of course that should not doesn't mean does not. Is anyone else seeing expired links when saving their application? I can't reproduce it myself.
We seem to get more and more who have. It hurts your chances slightly, but we wouldn't turn down a company just for that.
There are a whole bunch of things in that category (being a single founder, cofounders who won't quit their jobs, still being in school, etc). We wouldn't reject an application for having just one of these qualities, but when an application has several it starts to tip the balance to no.
Now that YC has gotten bigger (=more competitive), does an application without a prototype still have a shot? I'm incredibly paranoid about getting exposed to IP-related problems (working for a large corp and not in California). I suspect a few other people are in the same situation.
The sad thing is that when I think about it, I wouldn't fund someone without a prototype (if the roles were reversed). It is only when you build something do you realize if the materialized idea has any wings. Quite the mess I'm in :(
Yes, of course. We care more about the founders (both individually and their relationship) than the idea.
Incidentally, YC hasn't gotten as much more competitive as you might think, because we've grown as the number of applications has. We consistently end up funding about 3% of applications. Not as a conscious strategy; it just always works out to about that. Applying to YC has grown somewhat more competitive though, because the top 3% keep getting better as we get better known.
I'm curious about the RFS's: Is YC still looking for responses to all 9? Are there any in particular you feel have been met, and any that have disappointed in solutions?
I wonder about this too. I just noticed that our idea fits RFS #2 pretty well. I wonder if #2 is played out? It's certainly not as general as RFS #9, and I assume many have given this one a shot. On the other hand, most of these RFSs could probably stand relevant for years to come with multiple and varying startups able to satisfy the request.
[+] [-] nicholasjbs|14 years ago|reply
Some reasons I love YC:
- My cofounder and I were in the Summer 2010 batch. We've changed our idea, made mistakes, and failed repeatedly. Yet in all that time, pg and co have had and continue to have our backs 100%.
- One thing I've learned in life is that who you choose to surround yourself with matters immensely. Doing YC means surrounding yourself with great people.
- Every single YC partner is a genuinely lovely person. The other week we got a heartwarming and encouraging email from Kate, YC's architect.
- The YC network is unparalleled. In the past week, I've relied on it half a dozen times.
- I don't know how to put this, but YC has taste. Where others are political or indirect or care about appearances or do things without thinking about them, pg and co are the opposite: Direct, thoughtful, and good. YC is good in much the same ways pg's essays are good, if that makes any sense.
I cannot recommend YC highly enough.
(Sorry if that was too effusive.)
[+] [-] abstractbill|14 years ago|reply
[+] [-] eddylu|14 years ago|reply
http://www.grubwithus.com/ycombinator
[+] [-] ohashi|14 years ago|reply
[+] [-] andreasanchez|14 years ago|reply
[+] [-] MatthewB|14 years ago|reply
[+] [-] jaysonelliot|14 years ago|reply
[+] [-] Iroiso|14 years ago|reply
[+] [-] unknown|14 years ago|reply
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[+] [-] vecter|14 years ago|reply
[+] [-] rougefeta|14 years ago|reply
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[+] [-] richardburton|14 years ago|reply
1.) His product, www.minomonsters.com, has evolved from a nearly-finished Facebook game into beautifully designed and highly engaging iPhone app.
2.) Josh is now an alien (with extraordinary ability) due to his O1 visa.
3.) He has grown the business from a one-man-band hiring freelancers into a proper company with an office and staff.
4.) His network has expanded exponentially.
5.) He has found a truly great cofounder who makes him raise his game.
6.) He has ridden the emotional roller-coaster of fund-raising on his own and that has transformed him into an even better businessman.
7.) The process has taught him the art of focussing on one huge, seemingly-insurmountable goal. He has sacrificed a lot but gained even more.
8.) Despite his incredible work-ethic and dedication to his startup, one thing hasn't changed. He is still a great friend and always makes time for those he cares about.
I met Josh about 4 years ago. He was on a mission. YC was a fantastic catalyst for that mission. He provided the spaceship, they have provided the rocket-fuel.
[+] [-] michael_nielsen|14 years ago|reply
Part of the reason I ask is that for-profit and not-for-profit organizations have different kinds of leverage, and for some activities not-for-profits have big advantages. It's striking that some major success stories like Khan Academy and Wikipedia are not-for-profit.
I imagine that having a YC-like model applied to not-for-profits might produce some remarkable new startups, maybe even entirely new types of startup.
[+] [-] cing|14 years ago|reply
[+] [-] sterling312|14 years ago|reply
[+] [-] pclark|14 years ago|reply
I know dozens of startups that went through YC at this stage, and they will all reiterate how beneficial YC was for them.
If you're running a startup I really cannot think of a singular reason as to why you wouldn't apply. (the biggest testament to this is probably the YC alumni doing YC again with their new company.)
[+] [-] EGreg|14 years ago|reply
http://news.ycombinator.com/item?id=2426118
Since then, we have raised a little over $100k in our first round, increased our team, and got 20,000 people using us daily out of 200k (lifetime) installs. We applied and explained everything -- but again just got a form letter a couple months later.
So now we are up to 40k daily users, and out of 600k installs, about 200k people keep our apps and use them (just not daily). We are about to generate profit. We are talking to investors about a 5mil pre money valuation. I am wondering what is the point of applying to YC again ... can anyone who has been in a similar situation tell me what your experience was?
[+] [-] jarek|14 years ago|reply
Nitpicking: No interest in moving to the Bay Area would seem to be one.
[+] [-] unknown|14 years ago|reply
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[+] [-] davidwhodge|14 years ago|reply
[+] [-] jasonshen|14 years ago|reply
[+] [-] Mc_Big_G|14 years ago|reply
[+] [-] ramanujam|14 years ago|reply
[+] [-] jayzee|14 years ago|reply
As long as people can be sure to arrange to be here when the batch is in session it does not matter.
[+] [-] kerryusry|14 years ago|reply
[+] [-] Nogwater|14 years ago|reply
[+] [-] timjahn|14 years ago|reply
I agree that this isn't necessarily Y Combinator's responsibility to fill but somebody needs to create this.
I've interviewed plenty of entrepreneurs that built successful companies with families and/or not going at it full time for 3 months with insane mentorship.
It'd be great to see a dedicated resource that fit around this sort of lifestyle.
[+] [-] mindcrime|14 years ago|reply
But, luckily, there is Triangle Startup Factory, which has just re-opened and has funding for at least a few cycles over the next couple of years. This works because we could stay here if we are accepted.
Anyway, the point being, YC isn't the only game in town, especially if "town" is somewhere other than the Valley. Of course not every town has an incubator, but hopefully more will continue to emerge over time and spread the opportunity around a bit...
[+] [-] alexhaefner|14 years ago|reply
For those who haven't gone through YC but do have a lot of school debt or otherwise, how do you think you'll manage?
[+] [-] plusbryan|14 years ago|reply
[+] [-] jaysonelliot|14 years ago|reply
[+] [-] amirmc|14 years ago|reply
I'm aware little things change each time this is posted but it's the first time I've seen design mentioned. Just curious, when was it added (or was it always there and I just missed it?).
[+] [-] pg|14 years ago|reply
[+] [-] Animus7|14 years ago|reply
And it makes sense, given recent trends. How many recent startups can you name that succeeded in spite of terrible aesthetics?
[+] [-] abbasmehdi|14 years ago|reply
[+] [-] benrpeters|14 years ago|reply
[+] [-] Alex3917|14 years ago|reply
[+] [-] pg|14 years ago|reply
[+] [-] plasma|14 years ago|reply
Do you go a month of working on your idea, only to realise you're at a dead end - and be asked to think of something else?
Do you fall back to one of your second ideas?
Do mentors suggest working on something else?
I'm curious - cheers.
[+] [-] vyrotek|14 years ago|reply
[+] [-] pg|14 years ago|reply
There are a whole bunch of things in that category (being a single founder, cofounders who won't quit their jobs, still being in school, etc). We wouldn't reject an application for having just one of these qualities, but when an application has several it starts to tip the balance to no.
[+] [-] throwaway1979|14 years ago|reply
The sad thing is that when I think about it, I wouldn't fund someone without a prototype (if the roles were reversed). It is only when you build something do you realize if the materialized idea has any wings. Quite the mess I'm in :(
[+] [-] pg|14 years ago|reply
Incidentally, YC hasn't gotten as much more competitive as you might think, because we've grown as the number of applications has. We consistently end up funding about 3% of applications. Not as a conscious strategy; it just always works out to about that. Applying to YC has grown somewhat more competitive though, because the top 3% keep getting better as we get better known.
[+] [-] ig1|14 years ago|reply
[+] [-] dmix|14 years ago|reply
There will be a ton of startups applying where the founders left their jobs/schooling ahead of time.
[+] [-] unknown|14 years ago|reply
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