Once you raise enough to pay yourself market salary, the situation transitions from "impossible" to "annoying and long".
So focus on the product, then on funding and/or revenue: the rest will follow.
Once you raise enough to pay yourself market salary, the situation transitions from "impossible" to "annoying and long".
So focus on the product, then on funding and/or revenue: the rest will follow.
It is possible to bootstrap a company in such a way as to plateau out at, say, 3 people, each of whom gets a decent market salary. However, that company may not have further room to climb for various structural and/or marketing reasons, lack of appropriate connections, funding opportunities, etc. In principle, the purpose of YC is to address that specific gap irrespectively of how much short-term revenue the startup may be generating.
On the other hand, I agree that the amount of funding they provide per se is not particularly useful if you are already generating enough revenue to pay yourself(ves) a market salary.
As pbiggar points out above, there's no problem (at least for EU citizens) getting into the US for three months of YC - it's staying there long term that's hard.
If you mean do a program like YC, it's fine. The reason it works in this situation is because you aren't making any money. The INS does not care if you are "working" if you aren't actually making any taxable income.
If you mean draw a regular salary, it's harder to do that legally but I have a friend in France who runs a 1-man consulting firm that does short term contracts in the USA and he's figured it out. I don't think it was easy in terms of "no work" but it was just filling out a bunch of paperwork.
Doing the job you normally do isn't allowed, but it seems like it's pretty obvious that people do that.
Has anyone here on HN got into YC from London?