3 ms·
People hear about this and ask "You gave away 7% of your company for that?" No, you give away 7% of your company to join a network of people showing you what it
by egypturnash 5y ago
People hear about this and ask "You gave away 7% of your company for that?" No, you give away 7% of your company to join a network of people showing you what it really looks like to do that.
I thought you gave away 7% of your company for the big pile of VC money that YC hooks you up with, so you have a few years of runway to find an intersection between "an idea you had" and "an idea people are willing to collectively spend a lot of money on".
- tomhoward 5y agoThat outcome was not likely for anyone other than the top 2-3 companies per batch pre about 2011, and in 2009, due to the financial crisis, we were basically told “you probably won’t raise money at all”. We went to YC because it seemed like the best place to learn how to build successful companies and to be around others doing it.