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Yes, that makes sense, logically. But it ignores the plain fact that there’s no way to know if Y Combinator improves the company any more or less than on-the-fl
by byrneseyeview 18y ago
Yes, that makes sense, logically. But it ignores the plain fact that there’s no way to know if Y Combinator improves the company any more or less than on-the-fly learning would or—better yet—free mentorship from someone who has been there. In other words, maybe your startup is 10% better after going through an incubator.
Wait, that's it? The phrase 'average outcome' ignores the fact that there are multiple possible outcomes? I don't think 'The Equity Equation' meant to imply that the question was "Y Combinator funding, or doing nothing," -- it was about getting funding versus alternatives. So the entire criticism seems rooted in coming up with ex post reasons to hate YC.
I am trying to read Lacy's book, because it's informative. But the writing is excruciating. Next time, I hope she does the same interviews, but then hands off the notes to someone who can actually write.
- richcollins 18y agoShe also defines YC's value by its "mentorship". I think that YC's connections to additional funding are at least as valuable. If you need more money, then they might save a lot of time that would be spent trying to acquire it.
- jeremytliles 18y agoWell, I thought the main point she was raising (perhaps muddled by her own writing) was simply that PG's assertion that YC does in fact improve your odds by X% might not be true, and even if it is true, you may have other means--that have no equity cost--to realize the same benefits that YC offers. Totally agree about her book: the subject (the entrepreneurs) is quite interesting, but she gets in her own way with her poor writing ability (and where the hell was her editor, or don't those exist anymore?) She also seems to pretty much take her interviewees at face value. It is a bit ironic that on her blog post she mentions she wouldn't be where she is today if she had gone to journalism school; um, yes, it's entirely possible she might have become an actual journalist.
- keating 18y ago> It is a bit ironic that on her blog post she mentions she wouldn't be where she is today if she had gone to journalism school; A forum for entrepreneurs who largely bypassed college is hardly the place to get snarky about formal education.
- ojbyrne 18y agoDead on with "pretty much take her interviewees at face value." I'm described in the book as "not willing to work for stock" (re: digg). Not sure who made that up, but she made no attempt to verify it with me. If she had, I would have told her that it wasn't in any way true. There is a paragraph in the book where she talks about "founders' mythology" that I guess functions as a disclaimer of sorts. It should have been included on the dust jacket.