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Ultimately, the real test of YC is in the quality of the startups that emerge from the program. I've been investing in YC companies since the second batch (W06)
by paul 14y ago
Ultimately, the real test of YC is in the quality of the startups that emerge from the program. I've been investing in YC companies since the second batch (W06), and I can easily say that the most recent batch was not only the largest ever, but also the best. Perhaps some of the social elements are lost with the size increases (not all of the founder know each other anymore), but the actual value of the program seems to be increasing due to our greater experience and the increased reach of our network. Quite often during office hours, founders will come to me with a seemingly difficult question and I can refer them to a YC company from an earlier batch that can help them out tremendously, sometimes just with advice, but often by providing the exact solution they need, or by becoming their first customer.
Obviously some portion of the gain in quality is due to YC attracting more high quality startups, but that is not the whole of it. I've watched these startups from Day 1 to Demo Day and the progress and improvements made are incredible.
- yumraj 14y agoWhen you say "the most recent batch was not only the largest ever, but also the best", I have to ask that the "best" is based on what metrics? On average, in aggregate, everyone, the problem they're solving, age, education, experience, willingness to put in effort, IQ, etc.
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- paul 14y agoBest from an investment point of view. I don't care about their IQ, education, etc -- I care about them starting successful businesses. Obviously we won't have the final answer for many years (big successes take about 5-10 years), but myself and many other investors found this group to be very investment worthy (I put more of my personal money into this group than any previous).
- thereason 14y ago"I don't care about their IQ, education, etc." Would you say that is true of the other investors as well? Are investors informed of the IQ, education, etc. of the each member in the group?
- paul 14y agoNo, we don't administer IQ tests or anything. The point is that investors main interest is in finding good companies that will possibly be the next Google/Facebook/Dropbox.
- thereason 14y agoBut wouldn't IQ, education, etc. be factors in whether someone would even make it into the YC class? If investors are not concerned with these factors, should they be relevant in the YC (or any incubator) application process? (I realize asking this may be stirring a hornet's nest, and to anyone reading who is offended I apologize, but I am sincerely interested in the mind of the investor and their evaluation process.)
- Mumbles 14y agoIt doesn't really matter if participants have a low(er) IQ, or went to a non-elite school. As long as they are capable of creating great companies. YC does all the screening to make sure they are capable of doing so. http://news.ycombinator.com/s2012form http://news.ycombinator.com/s2012form
- rmATinnovafy 14y agoThe private business community made up by the YC members group is what makes the program so amazing. By adding more people to the community, you are not substracting resources, but adding to it. I get your point, and agree. Off topic - Could you provide me an email address to contact you? After reading your blog, I'd like to share something with you. Regards, RM
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- stevenj 14y agoHave you noticed anything peculiar about the best founders (and their companies)? Perhaps something they seem to have or do?
- dataisfun 14y agoSecond that. I loved the latest batch. Rescale, Priceonomics, Socialcam, etc. etc. etc.