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I'm glad they're moving Demo Day up. The whole point of YC is to level the playing field for all kinds of founders, and this would help keep the focus on Demo D

I'm glad they're moving Demo Day up. The whole point of YC is to level the playing field for all kinds of founders, and this would help keep the focus on Demo Day rather than the behind-the-scene investor meetings that tend to benefit connected, established founders. Personally, as a YC W19, first-time founder of Wanderlog [1], I didn't do any fundraising before Demo Day. But I heard from friends in the batch about cold emails, "informal" dinners, and all kinds of shenanigans to get ahold of founders earlier. Demo Day helps even things out by giving attention to all startups in YC, and not just the companies with connections. Everyone's given the same amount of time on stage, and off stage (in any other year), everybody's milling about in a huge hall. You can't tell who's the recent college dropout, and who's a former co-founder of a co. with a billion-dollar exit. I can totally see investors really taking the coronavirus/lack of an in-person Demo Day [2] as an excuse to double-up on their outreach, leading to an even more imbalanced process. Good work on the YC Partners' part for short-circuiting this and helping the first-time founders and the traditionally disadvantaged [1] A trip planner for vacation itineraries: https://wanderlog.com https://wanderlog.com [2] https://blog.ycombinator.com/yc-w20-online-demo-day-now-on-march-16/ https://blog.ycombinator.com/yc-w20-online-demo-day-now-on-m...

nugget 7y ago
>and who's a former co-founder of a co. with a billion-dollar exit I know your point wasn't entirely literal but it made me curious as to how many YC founders are in this position...Kyle with Twitch and then Cruise is the only one that comes to mind.
- phsource 7y ago
  Suhail from Mixpanel (S19) and Laks from Zenefits (W19, my batch) were both in recent batches! So they definitely exist. Much more common is the non-huge-exit but still successful second-time founders
  - xenospn 7y ago
    Mixpanel got acquired? I don't think Suhail had an exit (yet).
onion2k 7y ago
Despite posting on HN a lot I don't know much about how YC works. You seem to be implying that reaching investors before demo day is "cheating" somehow, and that it's not in the spirit of YC to do it. What benefit is there to your startup in trying to keep things balanced? Obviously you don't want to sabotage other startups in your cohort, but I can't figure out why talking to investors as early as you can would be seen as doing that.
- phsource 7y ago
  The advice we get from Y Combinator (which I think is extremely valid) is to focus on our product and customers, because that's ultimately what investors are going to look at. Fundraising is distracting, emotionally draining, and unproductive if you don't have those. If you're spending half your time during the program fundraising, that's half the time not spent on more important tasks
  - onion2k 7y ago
    That makes sense. Cheers.
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chrisseaton 7y ago
> all kinds of shenanigans I don’t understand - why do you care if another company fundraises or not? What’s it go to do with you? YC isn’t some kind of competition is it?
- barry-cotter 7y ago
  Think on the margin. If there’s a particularly good batch of startups probably the amount invested will be greater than average but I doubt it will be exactly proportional to quality. In the long run the ecosystem would adjust to higher quality by attracting more funding. But a company only goes through Demo Day once and they’re all competing for the capital of VCs and angels, which capital is probably medium term flexible but isn’t in the short run.
  - chrisseaton 7y ago
    But again what business is it of yours if someone else is faster out of the gate than you? This is like complaining that another company is better at marketing than you. I guess that's bad for you, but not their problem.
    - dhhwrongagain 7y ago
      I guess the premise of his comment is that there is a finite amount of money to be invested across all YC participants each season and that “back room” deals prevent startups that are less connected from having the same opportunity. Demo day could be seen as a way for all startups to compete for that finite investment on equal terms. That’s not to say that I agree with the premise that it’s a zero-sum game. At the same time I can see eager investors losing interest in hearing from other startups after securing investments in the hot startup earlier on. A lot of startup investing isn’t merit-based, it’s more about hype and gossip than you’d expect.
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- frankdenbow 7y ago

nugget 7y ago

>and who's a former co-founder of a co. with a billion-dollar exit I know your point wasn't entirely literal but it made me curious as to how many YC founders are in this position...Kyle with Twitch and then Cruise is the only one that comes to mind.

phsource 7y ago
Suhail from Mixpanel (S19) and Laks from Zenefits (W19, my batch) were both in recent batches! So they definitely exist. Much more common is the non-huge-exit but still successful second-time founders
- xenospn 7y ago
  Mixpanel got acquired? I don't think Suhail had an exit (yet).

onion2k 7y ago

Despite posting on HN a lot I don't know much about how YC works. You seem to be implying that reaching investors before demo day is "cheating" somehow, and that it's not in the spirit of YC to do it. What benefit is there to your startup in trying to keep things balanced? Obviously you don't want to sabotage other startups in your cohort, but I can't figure out why talking to investors as early as you can would be seen as doing that.

phsource 7y ago
The advice we get from Y Combinator (which I think is extremely valid) is to focus on our product and customers, because that's ultimately what investors are going to look at. Fundraising is distracting, emotionally draining, and unproductive if you don't have those. If you're spending half your time during the program fundraising, that's half the time not spent on more important tasks
- onion2k 7y ago
  That makes sense. Cheers.
- deleted 7y ago
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- deleted 7y ago
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chrisseaton 7y ago

> all kinds of shenanigans I don’t understand - why do you care if another company fundraises or not? What’s it go to do with you? YC isn’t some kind of competition is it?

barry-cotter 7y ago
Think on the margin. If there’s a particularly good batch of startups probably the amount invested will be greater than average but I doubt it will be exactly proportional to quality. In the long run the ecosystem would adjust to higher quality by attracting more funding. But a company only goes through Demo Day once and they’re all competing for the capital of VCs and angels, which capital is probably medium term flexible but isn’t in the short run.
- chrisseaton 7y ago
  But again what business is it of yours if someone else is faster out of the gate than you? This is like complaining that another company is better at marketing than you. I guess that's bad for you, but not their problem.
  - dhhwrongagain 7y ago
    I guess the premise of his comment is that there is a finite amount of money to be invested across all YC participants each season and that “back room” deals prevent startups that are less connected from having the same opportunity. Demo day could be seen as a way for all startups to compete for that finite investment on equal terms. That’s not to say that I agree with the premise that it’s a zero-sum game. At the same time I can see eager investors losing interest in hearing from other startups after securing investments in the hot startup earlier on. A lot of startup investing isn’t merit-based, it’s more about hype and gossip than you’d expect.
  - deleted 7y ago
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frankdenbow 7y ago