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I do think calling this a "scam" is difficult to defend from an intent perspective, but it does not appear like it has any realistic chance of succeeding. At so
by aeturnum 5y ago
I do think calling this a "scam" is difficult to defend from an intent perspective, but it does not appear like it has any realistic chance of succeeding. At some point projects cross a line from being optimistic to being negligent and deceptive. YC should know better and I think using hyperbolic rhetoric is a legitimate counter to a company that seems to be sleepwalking into failure with other peoples' money.
- sanxiyn 5y agoI am all for investor protection, but "other people" here are supposed to be accredited investors. Caveat emptor etc.
- bcrosby95 5y agoAnd people on kickstarter. But it would probably get no play here if it were just another pie-in-the-sky kickstarter game rather than being backed by YC. They did say they were backed by SV investors in their kickstarter, though, I'm not sure if that had anything to do with their success there.
- aeturnum 5y agoI can see why you would say that other investors should do their own research, but many people view a YC investment as a vote of confidence in the company in question. Your view makes me curious about how you think about the role of an incubator. Like...are there any lines YC could cross? Does their investment in a company reflect on them at all? What value do they provide other than seed money to companies?
- sanxiyn 5y agoYC provides seed money. No one should rely on YC for due diligence.
- avisser 5y ago> JobCompany (YC W20) Is Hiring and you want to join! This website trains people to rely on the YC endorsement. I understand if you don't think people should, but I agree with the sentiment YC has some responsibility to do a better job vetting.