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Which is one of the problems with the Valley. These incubators operate on the same premise. Take Techstars, where they openly said, "It's about the people, no
by tatsuke95 15y ago
Which is one of the problems with the Valley. These incubators operate on the same premise. Take Techstars, where they openly said, "It's about the people, not the idea." We're literally throwing money at people to think of ideas, and it stems from our obsession with "stars". Is it that hard to wait for a tangible product?
There is so much money sloshing around, and people are so scared to miss a deal that they're willing to take all the risk up front. It's crazy, and doesn't work like that in any other industry I can think off..
- kiba 15y agoThat how YC works, I think.
- drumdance 15y agoIt's a long way from $20-150k to $41 million. And many other industries work this way. Biotech and oil & gas come to mind. In fact, the tax laws around carried interest were enacted to encourage oil & gas exploration.
- neurotech1 15y agoI honestly believe YC is different. It's not just about "People" or their ideas, but in their execution. Throwing money blindly and seeing what sticks doesn't seem to be the YC modus operandi. It is interesting to see the number of YC alumni who join other YC startups, or do a second start-up, with similar teams and a new idea. I would hope to measure up to the YC standard, and get myself and my ideas accepted, when the timing is right.
- jodrellblank 15y agoI honestly believe YC is different. It's not just about "People" http://techcrunch.com/2011/05/24/y-combinators-paul-graham-were-looking-for-people-like-us/ http://techcrunch.com/2011/05/24/y-combinators-paul-graham-w...