21 ms·

It is even worse. This article is (yet another) attemp to romanticize and put to pedestal 'startup with a novel idea'. It is worth to mention that trying to tr

by rdslw 6y ago

It is even worse. This article is (yet another) attemp to romanticize and put to pedestal 'startup with a novel idea'. It is worth to mention that trying to trick/persuade/convince (choose freely) thousands (literaly) of people to go this path, benefits tremendously ycombinator - not the persuaded founders. Because for YC if only few are (hugely) successfull they win. Not so for the other thousands. The fact that few means 200 here, does not change that 'other' means around dozens of thousands. Startups with 'right but not novel' are also GOOD. But they are muuuuch worse for YC. YC is not seeking all investments to end with modest returns. YC is seeking few, but with HUGE returns. Pay attention also, that ycombinator itself is in the 'right, but not inventive' camp. It's like 'selling investing advices', while in the same time, author makes money on sth completly different (advices :). BAD ADVICES, to be exact. p.s. I'm also tired on romanticizing airbnb in literally 3 paragraph (search for airbeds if you missed it). This is a pattern.

ryeguy_24 6y ago
I agree with you entirely. To add to your point, we readers aren’t an an average of a simulation. We are a single path. So, this advice works for the those that reap benefits of the average but it may not be the advice suited for individuals. “Jump off a cliff because statistically, one of you may fly”.
- Agreed99 6y ago
  It’s a generational Ponzi scheme. We buy in as they say, they never have to pay out (in taxes). New wealth is generated by newcomers buying in (which conveniently keeps their wealth up). In the end we get left with the environmental cleanup bill. I have no respect left for western society. Its social experts outside science are average people acting emotionally. It’s no different to me than Sky wizard missionaries generating titillating story to grift off workers they came across. Beamed into our homes now. Grifters don’t even need to do more than show up on set. Businessmen to me are the final form of priests or kings. Story mode characters finely tuning a top-down hierarchy story in which they insert themselves near the top, but never do much but ramble inconsistency.
- angry_octet 6y ago
  "We've had no complaints from cliff jumping participants."
  - okareaman 6y ago
    a literal example of survivor bias
anovikov 6y ago
But what is the problem for those for who it doesn't work? How much do they get to lose? If they don't get accepted to the YC, they lose very little and it's just a short detour in their lives, certainly not the most boring or frustrating one, something to remember. If they get accepted to the YC, they clearly win vs the average folk because they get to know so many influential people and see how the world-class stuff gets done. For example, i've been doing custom development for more than 20 years, made several million in the process, built over 130 project and i still don't have a slightest idea of how it's done - because every single of my client's projects failed - and i would be more than delighted to see how projects succeed first-hand even if the project wasn't mine.
- _laiq 6y ago
  I feel your example is a good portrayal of a life pretty much well-lived: you made money doing something you enjoy, met tons of people and fed your curiosity. But according to this essay, you followed a BAD path not innovative enough, and the hidden reason why it's bad is because it will never generate any sort of profit for YC. Now if you had tried 3 or 4 startups in that same timespan, burned through all your life savings, did not make several millions in the process, and failed all you endeavours, you will be applauded by YC. Why ? because the more people exist like you, the better it is for them.
  - cutemonster 6y ago
    > you followed a BAD path [ according to the essay] I think not -- instead this seems quite un-conventional to me: >> doing custom development for more than 20 years, made several million in the process
- cutemonster 6y ago
  > detour in their lives, certainly not the most boring or frustrating one, something to remember Yes, and something one could regret for a lifetime if one never tried, a dream that one never gave the chance But of course it depends
Viliam1234 6y ago
Money has logarithmic utility. If you build a successful company, your gain is proportional to logarithm of its profit. But your investor's gain is directly proportional to the profit. So the investor will try to convince you to aim for 300% profit with 50% probability (compared to your original plan), because for the investor this simply means +50%. For you, it mostly means -50% probability, because the difference between having e.g. $10M or $30M is negligible compared to the difference between having $10M or nothing.
cutemonster 6y ago
> trying to trick/persuade/convince (choose freely) thousands (literaly) of people to go this path, benefits tremendously ycombinator - not the persuaded founders. Why so negative It can be fun for the founders also if the startup fails, and not always anything to regret And good for society in general with more innovation, eg YC's request for startups page: https://www.ycombinator.com/rfs/ https://www.ycombinator.com/rfs/ Many things there are really good for this planet
fakedang 6y ago
At this point, honestly the only YC startup they seem to be romanticizing is Airbnb. I've only heard of a few casual mentions (from Michael Siebel I think) of Brex or Segment or any of the other startups.
- tdevito 6y ago
  It does appear that YC is no longer relevant the way they were 10 years ago.
  - briankelly 6y ago
    Is there a "new" YC?

by rdslw 6y ago

ryeguy_24 6y ago

I agree with you entirely. To add to your point, we readers aren’t an an average of a simulation. We are a single path. So, this advice works for the those that reap benefits of the average but it may not be the advice suited for individuals. “Jump off a cliff because statistically, one of you may fly”.

Agreed99 6y ago
It’s a generational Ponzi scheme. We buy in as they say, they never have to pay out (in taxes). New wealth is generated by newcomers buying in (which conveniently keeps their wealth up). In the end we get left with the environmental cleanup bill. I have no respect left for western society. Its social experts outside science are average people acting emotionally. It’s no different to me than Sky wizard missionaries generating titillating story to grift off workers they came across. Beamed into our homes now. Grifters don’t even need to do more than show up on set. Businessmen to me are the final form of priests or kings. Story mode characters finely tuning a top-down hierarchy story in which they insert themselves near the top, but never do much but ramble inconsistency.
angry_octet 6y ago
"We've had no complaints from cliff jumping participants."
- okareaman 6y ago
  a literal example of survivor bias

anovikov 6y ago

But what is the problem for those for who it doesn't work? How much do they get to lose? If they don't get accepted to the YC, they lose very little and it's just a short detour in their lives, certainly not the most boring or frustrating one, something to remember. If they get accepted to the YC, they clearly win vs the average folk because they get to know so many influential people and see how the world-class stuff gets done. For example, i've been doing custom development for more than 20 years, made several million in the process, built over 130 project and i still don't have a slightest idea of how it's done - because every single of my client's projects failed - and i would be more than delighted to see how projects succeed first-hand even if the project wasn't mine.

_laiq 6y ago
I feel your example is a good portrayal of a life pretty much well-lived: you made money doing something you enjoy, met tons of people and fed your curiosity. But according to this essay, you followed a BAD path not innovative enough, and the hidden reason why it's bad is because it will never generate any sort of profit for YC. Now if you had tried 3 or 4 startups in that same timespan, burned through all your life savings, did not make several millions in the process, and failed all you endeavours, you will be applauded by YC. Why ? because the more people exist like you, the better it is for them.
- cutemonster 6y ago
  > you followed a BAD path [ according to the essay] I think not -- instead this seems quite un-conventional to me: >> doing custom development for more than 20 years, made several million in the process
cutemonster 6y ago
> detour in their lives, certainly not the most boring or frustrating one, something to remember Yes, and something one could regret for a lifetime if one never tried, a dream that one never gave the chance But of course it depends

Viliam1234 6y ago

Money has logarithmic utility. If you build a successful company, your gain is proportional to logarithm of its profit. But your investor's gain is directly proportional to the profit. So the investor will try to convince you to aim for 300% profit with 50% probability (compared to your original plan), because for the investor this simply means +50%. For you, it mostly means -50% probability, because the difference between having e.g. $10M or $30M is negligible compared to the difference between having $10M or nothing.

cutemonster 6y ago

> trying to trick/persuade/convince (choose freely) thousands (literaly) of people to go this path, benefits tremendously ycombinator - not the persuaded founders. Why so negative It can be fun for the founders also if the startup fails, and not always anything to regret And good for society in general with more innovation, eg YC's request for startups page: https://www.ycombinator.com/rfs/ https://www.ycombinator.com/rfs/ Many things there are really good for this planet

fakedang 6y ago

At this point, honestly the only YC startup they seem to be romanticizing is Airbnb. I've only heard of a few casual mentions (from Michael Siebel I think) of Brex or Segment or any of the other startups.

tdevito 6y ago
It does appear that YC is no longer relevant the way they were 10 years ago.
- briankelly 6y ago
  Is there a "new" YC?