4 ms·
YC never said they would fund no-idea founders. They said they would let them apply. It's an experiment. Maybe they'll fund them; maybe they won't. This is only
by rewind 14y ago
YC never said they would fund no-idea founders. They said they would let them apply. It's an experiment. Maybe they'll fund them; maybe they won't. This is only the first step. When you consider how much experience and data YC has now, you should assume they'll use that wealth of information to determine if a no-idea set of founders matches the qualities they attribute to success in previous start-ups. They'll probably also talk to them about different types of ideas and projects in the actual interview.
People shitting on this idea appear to be assuming that YC is run by a bunch of idiots.
- adii 14y agoIf you read closely, you'll see that I know that this makes sense to YC (and others in similar position). But it's not viable as a generic investment strategy. YC have a proven track record and I'm sure if they allow no-idea founders in, it'll prove to be a big success too. But again, YC is the outlier here.
- kstenerud 14y agoTo turn this around, how exactly do you measure the risk of investing in a would-be entrepreneur? If two otherwise equal entrepreneurs ask for money, and one has a product idea while the other does not, what is the difference in probability of business success between the two, assuming they both go on to secure the same amount of funding? If they are different, what is your reasoning for assigning different probabilities?
- adii 14y agoAs an investor, you can judge the current market size, the potential, as well where that fits into current trends when the entrepreneur's idea is present. Those are just some of the factors that are generally taken into account when making any investment.