How Y Combinator Started
ycombinator.com
ycombinator.com
There is nothing more heavenly, more sublime than that rare situation in life in which the self-indulgent choice and the ambitious choice align. There's a keen insight to be had there.
Unfortunately, those moments are very rare.
For instance, at least, in terms of my personal temperament and disposition, I have found that I most enjoy life, from a "human" perspective, in places that are terrible places to do business, and may, in fact, have very dysfunctional local economies, high amount of corruption, etc. I'm the kind of person that has the most fun in the colour of Greece, Italy, southern Spain, Portugal, Argentina, etc. I can appreciate the comparative orderliness and clockwork of Teutonic and Anglo-American civilisation, but it doesn't make me happy, and yet I need that whole universe in order to sustain my livelihood in any practical sense. But everything else about it doesn't make me very happy.
I wish there were some way to reconcile those two. I haven't found any place that has an optimal intersection of cowbell on the one hand, and practicality on the other. Maybe it exists, but I haven't found it. However, my natural sense is that there is a inherent, perennial tension between the two.
That's why that particular phrase really got me. I wish dearly for such a Shangri-la.
What a great age we live in!
Other than that, set yourself up so you can live somewhere you like and work remotely.
Also, Italy is very different from north to south. The north is still not a great place to do business, but it's a lot better than the south.
Maybe try Hong Kong? I haven't lived there but it seems colourful (in the Asian rather than Southern European sense) and yet still has the British history.
I'd love to work abroad but I don't really see how to go about it.
Ticino, Switzerland
Slovenia
Well, that went fast!
And actually, corruption is not really much of a concern right now, it's more of radical incompetence on all levels. At this point, no amount of bribery will help you go smoother.
I guess quitting the 9-5 to work on startups might qualify - there's always sacrifices though :)
(I've lived here for four years.)
(Perhaps it's because I only work here and live an hour out of town, that I don't see it.)
As a co-founder of Berkeley based company from YC S11 batch. Darn it! Berkeley would have been a great place to start YC. With Berkeley campus supplying a lot of CS students and the easy-going counter-culture that Berkeley provides (which gels well with counter-intuitive funding strategy of YC). It would have been great! Of course, the VCs would've to trek to Berkeley to attend demo days but that filters out the people who aren't serious. :)
On the flip side, now that MobileWorks is here, pg, jl and the YC community have a welcome place to hang out when they're in Berkeley. Thursday nights at the MobileWorks offices are starting to have a YC vibe to them.
A lot of 'this is how I became successful' biographies seldom provide that level of detail. Whilst I still find them interesting, I found PGs writing to be more inspirational (to me anyway) because it's almost like a 'how-to' guide.
Congrats to everyone who has ever applied and the YC team! You have changed the rules of the game for the better...
I'm in Berkeley and quite like it here but that's also because I mostly avoid networking events. Berkeley's startup culture is a bit weird because the city is in some ways anti-software business. If YC were here, it would have been enough of a political force by now to have actually shifted the epicenter of Silicon Valley around enough for Berkeley to be taken more seriously as a place for startups.
Knowing that there was a place out there for entrepreneurial geeks like me helped tipped the scales for me; YCombinator plus Hacker News itself has made me feel like I am not alone in trying to make it as a geek-entrepreneur and I am glad for it.
YC + HackerNews has made the tech world feel like a smaller, more accessible place for me.
And not to take anything away from YC's effort but I find it rather amusing that first time some good hackers take their turn at improving the VC industry they transform it and become (arguably) the most successful investors in it.
I wish more people would try to improve the VC industry. There's at least a few YC-level waves that could occur. AngelList the best example.
why would a pension fund give money to Sequoia, and then have them give it to YC? that's an unnecessary management fee the pension funds have to pay
If a pension fund wanted to invest $250m in YC, they'd have to scale up by so much I doubt it would work the same.
I wonder if pg has written anything about this, if there is some point of diminishing returns in the lean startup scene
What this says me, and hopefully you is this: "that inconsequential thing you are staring today.. do not be so sure it is that inconsequential. Most of all just do it"
Personally I find that one of the most important reasons to think long and hard about a name. Most startups go through many pivot points until they finally get it right. Choosing a name that is overly representative of the present business model can lead to team lock-in that could spell the death of a company before it even gets going.
It seems a wiser decision is to go with a name that represents a startup's future ambitions instead of its present circumstances.
I'd love to read a "where are they now" post on the first couple batches of founders, along with some quotes from them.
Kiko - Acquired by Tucows, team founded Justin.tv
Loopt - Raised 15million in Series A and B financing, at it's peak was valued at $500m, sold for $40m to Green Dot
Simmery - Closed. Founder went back to uni.
Infogami - Merged with Reddit.
MemAmp - Never launched, one founder (Chris) joined reddit one (Zak) went back to uni.
FireCrawl - Never launched, team founded TextPayMe and got acquired by amazon.
ClickFacts - YC stake acquired by private investors because YC wasn't a good fit. Company still exists.
Reddit is the most prominent. It's had a huge impact although from what I understand it hasn't done extremely well financially.
That's quite a halo effect that has prevented you from seeing the true "success rate".
Where are you getting 5 acquisitions from?
Reddit, Loopt basically made out.
Infogami merged with Reddit. That's essentially a save face maneuver and doesn't exactly signal success.
Clickfacts - "YC stake acquired by private investors" doesn't sound like that would be a win but a break even. More like "take it off our hands".
Kiko - Sold in an ebay auction for 258,000.
http://gigaom.com/2006/09/05/tucows-bought-kiko/
http://tucowsinc.com/news/2006/09/why-we-bought-kikocom/
I'd give it 2.1 out of 8.
The founders of Loopt, the Reddits, and Justin.tv have done a lot for the YC program (and for startups in general) going forward; arguably these 3 moderate successes financially for YC but having very involved alumni might be worth more than a huge financial success which didn't stay involved with YC.
"Wow, that's phenomenal. In 7 years, out of 8 companies there were 5 acquisitions (and a couple mergers). I'm sure any VC would be ecstatic to have that kind of success rate."
I don't see how that statement has anything to do with the value of the founders.
He said "5 acquisitions" not "2 (or 3) acquisitions and additionally they have very involved alumni.
I attended the "How to Start a Startup" talk in 2005. I remember going home and reading pg's website, the whole thing, cover-to-cover. Later that year I met Steve Wozniak at the first Startup School held in Cambridge. Woz, Chris Sacca and pg left a lasting impression on me. I had never witnessed that level of information density and knowledge sharing. Amazing to look back at those humble beginnings. Always grateful for YC and the HN community.
>"If you're accepted, we'll deal with the paperwork for you. We'll incorporate you, get you a corporate bank account, supply simple, generic employment agreements for you to use, and so on. We can give some advice about patents, though you don't have to deal with that in the earliest stages; you have a year after making a discovery to file a US patent application for it." [http://ycombinator.com/old/sfp.html]
However, the best part of the story was the I'm-quitting-my-job smile.
It wasn't just happiness that I was quitting my job. I was also so excited about this idea and the opportunity to work on something that could make a difference in the world.
Congratulations on a job well done.
However, the claim that they have recently become an existential threat is dubious, in my opinion.
Yes, there are lots of stories in the techpress about industry titans battering each with patents and partisan ranting which often accompanies it. What there aren't is stories on HN about startups forced to shutter because of patent claims.
But more importantly, funding for startups is accelerating not slowing as would be expected if software patents were a serious threat on the scale your post implies.
The problem with software patents for an investor such as YC is that they are hard to quantify as a risk and thus create uncertainty. What I see is that YC's initial approach to software patents was naive from an investment standpoint, i.e. that the risks of uncertainty turned out to be significantly greater than the potential gains from patent licensing.
I don't think YC's change was do to wholesale adoption of a FOSS ideology or conversion to Stallmanism. The day patents become a true existential threat, YC will not be funding software startups.
No seriously get one of those tiny (1/3 A5) ones which fit in any pocket, then all you have to do is remember a pen!
As for me, I've gone through Google Notebook, now Docs - one big Ideas doc for undevelopped ideas, then as ideas get developped, they get their own doc. And now also Trello, which is great. On the dashboard, you see only card titles, and this allows you to hide complexity.
I made it to scratch my own itch but I hope other people find it useful too.
now pg, please put some left and right padding on those static pages =]
http://web.archive.org/web/20050324062234/http://ycombinator...
"Privacy Policy: We're too lazy to look at log files, and haven't yet written any software to do it.
Terms of Use: When you click on a link, our server will send you the corresponding page."
Love it. Unlike many other sites, this one hasn't changed in years.
edit: privacy policy is gone (so I presume they got around to writing the software)
Wayback is instructive for founders. If ever you doubt the value of what you're doing, and fight desires to hold fire and perfect more features, the wayback machine is a great reminder that those companies that succeeded started somewhere less than minimal too, and executed on from there.
I wonder what the best batch size is: each cohort seems to be larger than the last. When does it makes sense to do three, four, or six a year as smaller batches.