I’m very excited about this. YC is the smartest group of people I’ve ever worked with, and I believe that startups are going to be the major driver for innovation and economic growth going forward.
I was thinking this morning about what it was like to start a startup in early 2005 and how much it’s changed now. PG has done a remarkable amount to improve the startup ecosystem for founders—in fact, it’s hard to think of anyone who has done more.
(Also, maybe someday soon we’ll make Hacker News work well on mobile :) )
Congrats Sam! Starting with even before we joined Y Combinator in the summer of 2008, you were always a very important advisor to us. I remember when we were first trying to raise money, no investor would talk to us. In our fundraising deck, we had our total addressable market at something like $100M, which was ridiculous considering our vision was just airbeds. We wanted to make it smaller. You told us to opposite - switch the m's to b's. I asked why, and you said that "investors want b's, baby." Ok, I may have added the "baby" part of the quote, but more importantly, you mentored us to think bigger, and you were (alongside the Justin.tv guys) an inspiration for us to join Y Combinator. Since then, you have been super helpful with showing us how to hire and scale a company. Congrats on this next part of your journey. Many startups will be better off because of you.
This is really cool ... while all the YC partners are amazingly talented and giving, you were always the person to go to in the trenches ... wise beyond your years and extremely tactical in how you communicate.
Thanks for everything you've contributed to all of us.
Every startup has a moment where the founder has to ask, "Do I become a professional administrator, or do I hand the professional management to someone else so that we can scale while I keep spending my time on what I want to."
It's good to see that YC has done this prior to a crisis, rather than in reaction to one. It doesn't seem like there's a better use of PG's time than office hours and writing. If this allows him to do more of both, everyone benefits.
Congratulations Sam! It won't come as a surprise to anyone close to YC, maybe just that it happened today. I am sure you are going to have a PG sized legacy when it is your turn to hand over the reins and I can't wait to watch it unfold.
Congrats Sam. I hope other founders have taken notice recently that Sam's posts - especially about raising money - are some of the best playbooks you can get your eyes on in terms of starting and fundraising successfully as a startup today. Well done.
Congrats Sam! I've come to anticipate your essays as a way to inform my own thinking. I'm certain this is excellent for YC and the entire startup ecosystem.
For a second I got irrationally excited that Sam was announcing a Presidential run, then read the post. Beyond my initial excitement at a potential USPOTUS candidate I actually believe in, I'm much happier that Sam is taking over YC, where he can add much more value, and hopefully free up PG to do more thinking (writing, giving advice, etc).
I'm not sure how I even noticed as I was just skimming the thread but I hit that line and lost all train of thought. Must be one of those things...
POTUS is "President Of The United States" so USPOTUS is redundant, but no more so than "ATM Machine" which my brain parses no problem. Sometimes its interesting to think about why we notice what we do :).
Sam, it would be great since you are the new President of YC if you could update the How to Apply to Y Combinator[1] page with your views on what a successful application looks like and your typical thought process when reviewing applications.
As a past YC founder that sat on the receiving end of some awesome advice from Sam from time to time I think this is a great thing for YC and for future YC founders.
Aside from being a smart, well connected guy Sam has the innate ability to solve complex problems in a well thought out and efficient manner.
I can't wait to watch YC scale like so many of the companies it has funded. It might be the gold standard for this model of financing, but I think they've only just begun.
Glad to have been a part of YC and glad to be a part of the awesome network of Alums. I sold my first company before I graduated college and never got to be an "Alumni" anywhere else, so in some ways I feel like this is watching my Alma Mater make great forward progress, I'm proud to watch it.
Wow, awesome news! I've noticed a lot more Sam Altman posts on HN recently, and I have to say I'm a fan, at least of his writing.
What does this mean for your role at YCombinator, PG? Will you still be spending most of your time helping out with companies there, or are you going to work on other projects?
I'm going to continue doing office hours with startups in future batches. And since office hours are the main way founders interact with me, YC should feel the same to companies we fund. It will feel a lot different to me though. Not so much because I'll have more time as more attention to spare. For years now YC has been the thing in the top of my mind. That has made it hard to write essays. Now I'll be able to focus most of my attention on writing again.
This is absolutely fantastic news for YC, their startups and the community as a whole.
pg was a huge influence on me - I've read all of his essays, watched his talks and studied his comments on HN. I've learned so much about startups and making cool things from him and am now in SF hacking away at a startup solely thanks to the inspiration "How to Make Wealth" gave me.
sama, if you'll take a piece of advice from a lowly HN commenter, please be the same to the next generation of founder/hackers. Don't just be really good at accelerating startups. Teach, inspire, and care. You're inheriting a legacy, now build one of your own.
I've never met you in person but from what I've heard, you're just as capable of this as pg was in your own way. Godspeed.
On semi-unrelated note: Can YC-like incubators/accelerators ever become a public company? Lot of people I know would like to invest in startups but have no time, resources or experience to personally do due diligence. It would be great if public could buy shares of these accelerator companies. The amount from their IPOs can truely trigger exponential growth of startups.
Right now most incubators/accelerators are busy playing small investment/big exits model but there is huge untapped area where one need medium to large capital but can expect 2X-5X return with lower risks. I'm not sure if SEC has any rules against incubators/accelerators going public but for next exponential growth it seems essential.
I don't think there is a shortage of capital right now. I haven't heard of anyone with a really good idea being turned down recently because the VC firms were currently out of money.
I think it's a sign of how good this choice is that I can't think of any serious changes which it will bring immediately (other than maybe freeing up more of pg's time to write essays and do office hours); the long-term changes are all positive.
A smart, young, relatable person of the next generation to grow the company. Looking forward to seeing what Sam's got under his sleeves. Has Sam done anything in the entrepreneurial world after Loopt was acquired? Or has he just been an investor?
I am really curious about YC corporate structure. Is it a partnership or LLC? Does PG still have "controlling vote block" in significant matters? Can I buy YC shares?
It's kind of sad to see pg stepping down, but I'm sure sama will do a great job. Should we expect any fundamental changes in the way things get done at YC?
Weird - I saw this about a minute after reading the AI post - and I did for a second think that he was actually going to run as an Independent candidate for US Presidency.
The weird part of course was "oh on some kind of business / privacy reform ticket. Yeah that makes sense - he might be like a privacy Ralph Nader. "
I think either I live in a bubble or the world really is changing.
Congratulations Sam, and well-done Paul. I consider both of you to be mentors who have educated, inspired, and motivated me to push myself further than I ever thought possible. Paul, you'll continue your mission... it'll just be at a higher level. And Sam... I wish you the best of luck as you elevate Ycombinator to the next level and beyond with your drive, enthusiasm, and talent for spotting patterns, trends and opportunities as well as pain points worth addressing and problems worth solving. dh
[+] [-] sama|12 years ago|reply
I was thinking this morning about what it was like to start a startup in early 2005 and how much it’s changed now. PG has done a remarkable amount to improve the startup ecosystem for founders—in fact, it’s hard to think of anyone who has done more.
(Also, maybe someday soon we’ll make Hacker News work well on mobile :) )
[+] [-] brianchesky|12 years ago|reply
[+] [-] jl|12 years ago|reply
[+] [-] ajju|12 years ago|reply
For a few seconds while the post loaded, I wondered if you are really running for president. It seemed improbable, but not impossible :)
[+] [-] jasonmccay|12 years ago|reply
Thanks for everything you've contributed to all of us.
[+] [-] mathattack|12 years ago|reply
It's good to see that YC has done this prior to a crisis, rather than in reaction to one. It doesn't seem like there's a better use of PG's time than office hours and writing. If this allows him to do more of both, everyone benefits.
[+] [-] brlewis|12 years ago|reply
[+] [-] dsugarman|12 years ago|reply
[+] [-] noname123|12 years ago|reply
Sam, there are already mobile apps for this. But the constantly expiring links due to limitations to Arc should be fixed.
[+] [-] mhartl|12 years ago|reply
[+] [-] kyro|12 years ago|reply
[+] [-] aelaguiz|12 years ago|reply
[+] [-] btrautsc|12 years ago|reply
[+] [-] TheMakeA|12 years ago|reply
[+] [-] skndr|12 years ago|reply
[+] [-] VictorHo|12 years ago|reply
[+] [-] viralbajaria|12 years ago|reply
Does this mean you will have less time to write blogs ?
[+] [-] andrewpbrett|12 years ago|reply
Congrats Sam.
[1] http://paulgraham.com/fundraising.html
[+] [-] nandemo|12 years ago|reply
[+] [-] pbhjpbhj|12 years ago|reply
;0)>
[+] [-] the_watcher|12 years ago|reply
[+] [-] kgermino|12 years ago|reply
I'm not sure how I even noticed as I was just skimming the thread but I hit that line and lost all train of thought. Must be one of those things...
POTUS is "President Of The United States" so USPOTUS is redundant, but no more so than "ATM Machine" which my brain parses no problem. Sometimes its interesting to think about why we notice what we do :).
[+] [-] samstave|12 years ago|reply
[+] [-] seanmcdirmid|12 years ago|reply
[+] [-] 6thSigma|12 years ago|reply
Also, congratulations!
[1] http://ycombinator.com/howtoapply.html
[+] [-] edw519|12 years ago|reply
https://news.ycombinator.com/item?id=1025798
5 years earlier than I predicted and for a better job. Congratulations, sama.
[+] [-] defen|12 years ago|reply
[+] [-] nathancahill|12 years ago|reply
[+] [-] zbruhnke|12 years ago|reply
Aside from being a smart, well connected guy Sam has the innate ability to solve complex problems in a well thought out and efficient manner.
I can't wait to watch YC scale like so many of the companies it has funded. It might be the gold standard for this model of financing, but I think they've only just begun.
Glad to have been a part of YC and glad to be a part of the awesome network of Alums. I sold my first company before I graduated college and never got to be an "Alumni" anywhere else, so in some ways I feel like this is watching my Alma Mater make great forward progress, I'm proud to watch it.
[+] [-] natural219|12 years ago|reply
What does this mean for your role at YCombinator, PG? Will you still be spending most of your time helping out with companies there, or are you going to work on other projects?
[+] [-] pg|12 years ago|reply
[+] [-] nostromo|12 years ago|reply
> Because YC needs to grow
> we'll have to grow proportionally bigger
I'm excited to see how this plays out!
[+] [-] RKoutnik|12 years ago|reply
pg was a huge influence on me - I've read all of his essays, watched his talks and studied his comments on HN. I've learned so much about startups and making cool things from him and am now in SF hacking away at a startup solely thanks to the inspiration "How to Make Wealth" gave me.
sama, if you'll take a piece of advice from a lowly HN commenter, please be the same to the next generation of founder/hackers. Don't just be really good at accelerating startups. Teach, inspire, and care. You're inheriting a legacy, now build one of your own.
I've never met you in person but from what I've heard, you're just as capable of this as pg was in your own way. Godspeed.
[+] [-] sytelus|12 years ago|reply
Right now most incubators/accelerators are busy playing small investment/big exits model but there is huge untapped area where one need medium to large capital but can expect 2X-5X return with lower risks. I'm not sure if SEC has any rules against incubators/accelerators going public but for next exponential growth it seems essential.
[+] [-] hueving|12 years ago|reply
[+] [-] brianmcdonough|12 years ago|reply
Welcome to YC 2.0. Looking forward to following the original meta-startup under Sam's leadership.
[+] [-] rdl|12 years ago|reply
[+] [-] gummify|12 years ago|reply
[+] [-] Peroni|12 years ago|reply
All you had to do was ask for my help...
Jokes aside, congrats Sam!
PG: What's your next primary focus going to be?
[+] [-] boomzilla|12 years ago|reply
[+] [-] HockeyPlayer|12 years ago|reply
I don't know if PG has control.
You can't buy YC shares.
[+] [-] mion|12 years ago|reply
[+] [-] PStamatiou|12 years ago|reply
[+] [-] lifeisstillgood|12 years ago|reply
The weird part of course was "oh on some kind of business / privacy reform ticket. Yeah that makes sense - he might be like a privacy Ralph Nader. "
I think either I live in a bubble or the world really is changing.
[+] [-] josh2600|12 years ago|reply
Change is hard and exciting. If PG is monitoring these comments, my question is: "what was the hardest part about letting go?"
[+] [-] danhodgins|12 years ago|reply