3 ms·
@22-26 yrs of age 150K spread over a team of 3 is like fuck you money. They'll likely buy costlier supplies, capital goods, and indulge. wouldn't you?
by knowsnothing613 16y ago
@22-26 yrs of age
150K spread over a team of 3 is like fuck you money. They'll likely buy costlier supplies, capital goods, and indulge.
wouldn't you?
- Smerity 16y agoFuck you money indeed, but I think it means more than just indulging. Giving the YC companies $150k means they're likely on better terms for the first investment round. It moves the discussion from "we need money to survive and grow" to "we could use money to grow faster". This will give many entrepreneurs a nice long runway to ensure their valuation looks good and that they're negotiating from a position of relative confidence.
- revorad 16y agoFirstly 22-26 is probably not the most representative age group of YC founders. IIRC, pg mentioned that 26 is the median age. $150K spread over a team of 3 is an annual salary of $50K for each founder. That's not fuck you money in most parts of the world, forget Silicon Valley.
- beatpanda 16y agoSpeak for yourself, a $50,000 salary would be 4 times what I make now, and I live in San Jose. $50,000/yr would definitely be "fuck you money" from where I'm standing. I'm planning on applying for YC once I graduate, and I can't imagine a situation in which I would spend a bunch of money on stupid shit when all you really need for a startup is a VPS somewhere, some tables and chairs and the laptop you already have.