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We were rejected from YC because we wouldn’t dilute to 0 some of the early people at the company They first told us we were in, but that we would need to adjus
by nico 2y ago
We were rejected from YC because we wouldn’t dilute to 0 some of the early people at the company
They first told us we were in, but that we would need to adjust our cap table so that only 2 founders would have equity. They gave us a phone call, we pushed back, and later they sent us a rejection email
- neilv 2y agoCommendable. We need more people with decency, principles, and backbone.
- gnkyfrg 2y ago[dead]
- auggierose 2y agoInteresting. Why would they care about something like that? Would it not just come out of the pockets of the 2 founders?
- nico 2y agoYour guess is as good as mine. My memory is a bit fuzzy about the details now, but I remember a very awkward phone call with one of the partners in which they were saying things like “the cap table is too busy” and that they only wanted founders having equity We were willing to compromise to some degree, and the non-founders said they would give up most equity if that meant getting into YC But after the call, we got a rejection email saying something weird like “your cap table seems to be in flux”, thus disqualifying us