5 ms·
From the terms: By applying to Yellow, you agree to irrevocably waive any legal claim you may have against us under any theory of law in any territory,
by ar7hur 8y ago
From the terms:
By applying to Yellow, you agree to irrevocably waive any legal claim you
may have against us under any theory of law in any territory, including, without
limitation, copyright infringement or breach of implied in fact contract
(idea submission), that your rights were infringed due to any similarity between
your Content and any other content that is or may be developed by Snap
- OedipusRex 8y ago"Give us your ideas"
- bhhaskin 8y agoshould be a non-starter for anyone.
- eugeniub 8y agoYeah, I can easily acquire $150k somewhere else. Edit: For the record, I'm being sarcastic here. My point is that it's hard to say that this "should be a non-starter for anyone", because almost no one can acquire a $150k investment under any condition, and it's a difficult decision one would have to make.
- ryanSrich 8y agoPlease do tell more.
- osrec 8y agoFreelance as a developer for a year? There are a fair few ways to make 150k without signing away your life. It just takes a bit of time ;)
- ryanwaggoner 8y agoVery few developers in the US can add $150k in post-tax cash flow in 12 months from a dead start. Depending on living expenses and tax situation, you need to gross $300k to $450k. I speak from experience: doable, but not easy.
- TaylorGood 8y agoThe variable is 1) whether you're accepted, and 2) more specifically, whether they like your idea so much they rip it just by way of your mere application to Yellow. It's potentially a very expensive $150k.
- BLanen 8y agoSeems pretty standard.
- twostorytower 8y agoIt's not. YC has no such terms that I am aware of. YC says this in regards to IP/ideas, though: Will you sign an NDA? How do I know you won't steal my idea? No, we won't sign an NDA. No venture firm would at this stage. The informal commitment to secrecy on our application form is more than any VC would make.
- suyash 8y agoReallly submitting idea means you loose the IP, even sponsored Hackathons don't have that in their rules/contract.
- drenvuk 8y agoThe funniest part about this, is that the chain would continue into one of Facebook's products after snap gets it. I come up with a great idea for storytelling --> Snap says "yeah, that's our's now" --> Facebook says "yeah, we prototyped it in a weekend and folded it into Instagram."
- mrcheckpoint 8y agoYellow isn't looking for product ideas. They are looking for content.. Content is on a platform rather than folded into one, no?
- mychael 8y agoIts as if Snap is deliberately trying to turn off founders.
- johnrob 8y agoWondering outloud: given what facebook did to snapchat, would one assume that you have to "beat" snapchat (and anyone else) without resorting to a legal defense? In other words, if you can't beat snapchat at your own idea (assuming your idea is good enough to warrant their interest), are you doomed whether or not you signed a non-suit agreement?
- sebleon 8y agoThis is actually reasonable. Without this, Snap would be asking for lawsuits from anyone that submits an idea that’s even close to an upcoming feature. At the end of the day, this incubator relies on trust, and founders should never take money from someone they distrust anyway.
- scotu 8y agoit seems pretty one sided as far as trust goes
- joshuamorton 8y agoThe idea is that I, an adversarial actor, could submit an (or many) applications, and then sue snap if they ever release a feature that resembles any of those submissions. Basically, as a potential incubatee, I need to trust Snap. For them to remove that clause, Snap needs to trust that there will be 0 adversarial applicants. Thus a one-sided trust metric makes some level of sense.
- shams93 8y agoOk that makes sense now on its face it seems incredibly adversarial to the point where they could force you to be a drug mule as a team building exercise. But when you put it this way it makes perfect sense. Without this kind of protection you're open to a lawyer placing bogus applications just to launch series of lawsuits to effectively destroy the program for everyone.
- 21 8y agoI have a project which fits perfectly into what they are looking for, but these IP terms are ridiculous. Any other suggestions of where I could get seed funding? (somewhere in EU would be even better)