3 ms·

Now, I just disagree with this view. The vast majority of companies don't take VC money. Many great companies had ideas that were quickly dismissed by these "V

by kloncks 15y ago

Now, I just disagree with this view. The vast majority of companies don't take VC money. Many great companies had ideas that were quickly dismissed by these "VERY smart VCs and entrepreneurs". Of course, there's also the argument that the 4-5 YC partners just can't take on every potentially successful startup. Harvard can't accept every qualified candidate; there's not enough seats. But to then tell one of those rejected (or in this case, waitlisted!) to simply forget continuing on with their education elsewhere is just preposterous.

d0m 15y ago
"The vast majority of companies don't take VC money. Many great companies had ideas that were quickly dismissed by these "VERY smart VCs and entrepreneurs"." It's not for the money. It's for the experience that you get, the day to day conversation with all the teams, the contacts that you can get, the incredible feedback and criticism from highly experienced mentor AND the money (Which is really not that much, but just enough to get started and focus without stressing about how you will eat). And note here, I'm talking about first time entrepreneurs; Not someone who's got 5 startups already sold or a google/facebook/whatever CTO. And yeah, you can argue that you don't need it and sometime startups were wrongly dismissed by good VCs; but it's rare. It's their job to spot great startups/revolutionary ideas/extraordinary teams. The fact that you are not chosen means something. You can't only dismiss it.. It's important to know why you weren't chosen. And "The teams were awesome this year" is not a reason. I mean, if your idea is awesome and you are great but they didn't accept you, there must be a reason. Is it because they didn't "get" it? Or felt that the market wasn't ready for it? Or that even though you think you're awesome, you're not? "Of course, there's also the argument that the 4-5 YC partners just can't take on every potentially successful startup. Harvard can't accept every qualified candidate; there's not enough seats. But to then tell one of those rejected (or in this case, waitlisted!) to simply forget continuing on with their education elsewhere is just preposterous." Again, the problem is not to be refused, but to know why you are. If you were refused because of your grades, it's perfectly understandable. If it's because you can't speak the language of the university, it's understandable. But if you're among the best with a great personality and awesome grades, why would they refuse you? And then, school is really different in the way they accept you. It's more about your dossier and your grade.. not about your potential. Whereas, with an incubator, they don't care about your past, they look at you. Your idea. Your personality. Your enthusiast. The fact that they refuse you means a lot more; PG really looked at you, talked with you and thought: "No. You're not in."
- kirillzubovsky 15y ago
  So prove him wrong and get your company to success.
- truthseeker 15y ago
  YC or techstars see you as a point in time. Fixed and whether you are right for their model or not. However, you are not fixed. you evolve, grow, talk to customers, pivot, refine business model, etc. They don't see all of that. Or probably see your past as an indicator of future. May be you may not have the potential for another google or youtube but you might be successful. Successful by your own measure not someone else's yardstick.

by kloncks 15y ago

d0m 15y ago

"The vast majority of companies don't take VC money. Many great companies had ideas that were quickly dismissed by these "VERY smart VCs and entrepreneurs"." It's not for the money. It's for the experience that you get, the day to day conversation with all the teams, the contacts that you can get, the incredible feedback and criticism from highly experienced mentor AND the money (Which is really not that much, but just enough to get started and focus without stressing about how you will eat). And note here, I'm talking about first time entrepreneurs; Not someone who's got 5 startups already sold or a google/facebook/whatever CTO. And yeah, you can argue that you don't need it and sometime startups were wrongly dismissed by good VCs; but it's rare. It's their job to spot great startups/revolutionary ideas/extraordinary teams. The fact that you are not chosen means something. You can't only dismiss it.. It's important to know why you weren't chosen. And "The teams were awesome this year" is not a reason. I mean, if your idea is awesome and you are great but they didn't accept you, there must be a reason. Is it because they didn't "get" it? Or felt that the market wasn't ready for it? Or that even though you think you're awesome, you're not? "Of course, there's also the argument that the 4-5 YC partners just can't take on every potentially successful startup. Harvard can't accept every qualified candidate; there's not enough seats. But to then tell one of those rejected (or in this case, waitlisted!) to simply forget continuing on with their education elsewhere is just preposterous." Again, the problem is not to be refused, but to know why you are. If you were refused because of your grades, it's perfectly understandable. If it's because you can't speak the language of the university, it's understandable. But if you're among the best with a great personality and awesome grades, why would they refuse you? And then, school is really different in the way they accept you. It's more about your dossier and your grade.. not about your potential. Whereas, with an incubator, they don't care about your past, they look at you. Your idea. Your personality. Your enthusiast. The fact that they refuse you means a lot more; PG really looked at you, talked with you and thought: "No. You're not in."

kirillzubovsky 15y ago
So prove him wrong and get your company to success.
truthseeker 15y ago
YC or techstars see you as a point in time. Fixed and whether you are right for their model or not. However, you are not fixed. you evolve, grow, talk to customers, pivot, refine business model, etc. They don't see all of that. Or probably see your past as an indicator of future. May be you may not have the potential for another google or youtube but you might be successful. Successful by your own measure not someone else's yardstick.