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Sam's contention, as far as I can tell, is that YC is hugely important to economic growth. Startups are a small fraction of growth. Of that small fraction, a fr
by n72 10y ago
Sam's contention, as far as I can tell, is that YC is hugely important to economic growth. Startups are a small fraction of growth. Of that small fraction, a fraction (20%) require VC funds. Of that fraction, another fraction may not have made it but for YC. So, we're looking at a fraction of a fraction of a fraction that YC is involved with. I'd say that suggesting that YC is hugely, or even just important, to economic growth is absurd (and reflects the massively outsized view SV has of itself).
- skndr 10y agoI read it as "...I have to think YC [can someday be] hugely important to that growth," not that it already was. That said, although VC funding might be a small percentage of investment overall, it has a leveraged impact on the economy as a whole [0]: "According to a study conducted at the Stanford Graduate School of Business, 43% of U.S. public companies founded since 1979 were funded by venture capital. These companies now comprise 38% of all employees, 57% of the total U.S. market capitalization, and account for 82% of all R&D spend — a proxy for further innovation growth — in the United States." [0] http://a16z.com/2016/09/11/vc-economics/ http://a16z.com/2016/09/11/vc-economics/
- ck425 10y agoI personally read that as an ambition rather than a reality, Sam wants to make YC an organisation that will have an important effect on economic growth.