Hacker News Reader

This is a relatively new phenomenon which is also why the YCF program exists now. Time was, you had a team and a demo.

The great majority of companies we fund, even in recent batches, have effectively zero revenue when we fund them. But certainly more have a product and users than they used to, which is why we're doing the fellowship.

YCF is an awesome move guys. Stays true to the funding of a good team/idea philosophy YC began with.

I would also just add that you should still feel welcome to apply to YC's normal program if you're still in the idea or prototype stage.

Like kevin said elsewhere in the thread, it's about finding the amazing founders in the margins -- we want to see everything, and YC can still be a good fit for everyone.