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YC is a for profit entity. Why would they offer a free cup of coffee much less access to the resources and network if they aren't getting anything out of it?
by goatherders 7y ago
YC is a for profit entity. Why would they offer a free cup of coffee much less access to the resources and network if they aren't getting anything out of it? I like YC and enjoy HN, but the altruism comes after the profit (as it should).
- threeseed 7y agoI should have clarified. I meant an option where they take some fraction of 7%. Not sure whether this is necessarily a great deal for YC or not. Depends how cheaply they can raise the $150k they need for each company in each batch. I just know for many startups like mine $150k is basically worthless. It's not enough to hire and you just stay somewhere cheaper and commute into YC for the program.
- anticsapp 7y agoYou're right. A no investment incubator would kind of suck but there are pay to play incubators?! Reverse investing? Makes no sense, but your scenario would be better than that. Nothing wrong with a Harvard scholarship.
- travisjungroth 7y agoThere are few government run 0% equity accelerators. Start-Up Chile gives $35k in reimbursed expenses and six months of office space + mentorship. Their hope is you stay in Chile and they make it back in taxes.
- phkahler 7y ago>> It's not enough to hire and you just stay somewhere cheaper and commute into YC for the program. As I understood it, the original intent was just to pay living expenses while doing the program and developing a minimum viable product. The intent was that the makers would own the company. It has strayed from that for better or worse.
- goatherders 7y agoGot it. I always thought the 150k was meant for smallish teams as a "spend 3 months growing here and 3 months raising more money" kind of money, which is important for many companies.