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I predict that Parker will join YC as a part-time partner. This may shed him in a negative light, but it does not erase the things he has accomplished in the la

I predict that Parker will join YC as a part-time partner. This may shed him in a negative light, but it does not erase the things he has accomplished in the last few years. Zenefits became a billion-dollar company that scaled its sales efforts at a record-breaking pace. Startups can learn a lot from him about building a sales machine.

jgalt212 11y ago
> that scaled its sales efforts at a record-breaking pace Yes, but what would have sales been if they hadn't used unlicensed brokers?
- pyre 11y ago
  I think the point was that there might be some lessons to be learned that can be applied to industries that don't require such licensing.
- monkeyprojects 11y ago
  Nothing like what they have been. And that is the point the only way to scale up at the rate zbenefits did was via dubious means. Then the day comes when you need to become above board and someone has to be the fall guy. The important question here is not what the press release says but the money being paid....
geofft 11y ago
That sounds like even more of a mistake than inviting the guy who sold Loopt for $43M to some random prepaid credit card company after raising $39M of investment money to be a part-time partner at YC.
- ericd 11y ago
  /s? Because Sam has done an incredible job.
- sama 11y ago
  Thanks for your feedback, really appreciate it.
- free2rhyme214 11y ago
  Sam sold a company, runs YC and has invested in Instacart. What have you done?
- jacquesm 11y ago
  What a crap comment. Do you also spit on the walls of the houses of your friends when you visit? Knowing when to sell and when to hold is a very tricky decision, plenty of people don't know what call to make and end up riding their companies all the way into the abyss. If you've done considerably better then maybe it's time you told the story, if you didn't admit you're jealous and get over it.
  - geofft 11y ago
    It's funny that pointing out that someone made 10% RoI is spitting on walls. It's not a fantastic return, but it's certainly not a failure. But that goes to the original problem: YC participation is advertised as a way to make money beyond your wildest dreams, but the only people who can actually expect to do that are investors. So many good and competent founders fail that even a modest success is enough qualification to lead YC; at the same time, the fact that so many good and competent founders fail is so taboo that pointing out that YC's president was only modestly successful looks like an insult. And, to bring this back on topic, it is more-or-less this taboo that compels companies like Zenefits to prioritize stupendous growth over complying with the law. They could have grown cautiously and still made well over a 10% RoI, but they wanted to gamble harder.
    - nostrademons 11y ago
      I know plenty of YC founders (and even an early employee or two) that have ended up financially independent because of it. Investing in, founding, and leading a company are three different skillsets. The best founding CEOs usually are not venture capitalists; you don't see Larry Page, Elon Musk, or Steve Jobs wishing they were investors. Similarly, it's possible to be a good founder and terrible leader (eg. Parker Conrad, Pierre Omidyar), or a good leader but incapable of founding something (Eric Schmidt, Sheryl Sandberg) or a mediocre founder but excellent investor (Sam Altman, Paul Graham, Eugene Kleiner, Don Valentine).

jgalt212 11y ago

> that scaled its sales efforts at a record-breaking pace Yes, but what would have sales been if they hadn't used unlicensed brokers?

pyre 11y ago
I think the point was that there might be some lessons to be learned that can be applied to industries that don't require such licensing.
monkeyprojects 11y ago
Nothing like what they have been. And that is the point the only way to scale up at the rate zbenefits did was via dubious means. Then the day comes when you need to become above board and someone has to be the fall guy. The important question here is not what the press release says but the money being paid....

geofft 11y ago

That sounds like even more of a mistake than inviting the guy who sold Loopt for $43M to some random prepaid credit card company after raising $39M of investment money to be a part-time partner at YC.

ericd 11y ago
/s? Because Sam has done an incredible job.
sama 11y ago
Thanks for your feedback, really appreciate it.
free2rhyme214 11y ago
Sam sold a company, runs YC and has invested in Instacart. What have you done?
jacquesm 11y ago
What a crap comment. Do you also spit on the walls of the houses of your friends when you visit? Knowing when to sell and when to hold is a very tricky decision, plenty of people don't know what call to make and end up riding their companies all the way into the abyss. If you've done considerably better then maybe it's time you told the story, if you didn't admit you're jealous and get over it.
- geofft 11y ago
  It's funny that pointing out that someone made 10% RoI is spitting on walls. It's not a fantastic return, but it's certainly not a failure. But that goes to the original problem: YC participation is advertised as a way to make money beyond your wildest dreams, but the only people who can actually expect to do that are investors. So many good and competent founders fail that even a modest success is enough qualification to lead YC; at the same time, the fact that so many good and competent founders fail is so taboo that pointing out that YC's president was only modestly successful looks like an insult. And, to bring this back on topic, it is more-or-less this taboo that compels companies like Zenefits to prioritize stupendous growth over complying with the law. They could have grown cautiously and still made well over a 10% RoI, but they wanted to gamble harder.
  - nostrademons 11y ago
    I know plenty of YC founders (and even an early employee or two) that have ended up financially independent because of it. Investing in, founding, and leading a company are three different skillsets. The best founding CEOs usually are not venture capitalists; you don't see Larry Page, Elon Musk, or Steve Jobs wishing they were investors. Similarly, it's possible to be a good founder and terrible leader (eg. Parker Conrad, Pierre Omidyar), or a good leader but incapable of founding something (Eric Schmidt, Sheryl Sandberg) or a mediocre founder but excellent investor (Sam Altman, Paul Graham, Eugene Kleiner, Don Valentine).