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I think that there's an element of that. People who are just joining yc for the name are there for the wrong reason.
by paul 14y ago
I think that there's an element of that. People who are just joining yc for the name are there for the wrong reason.
- jbooth 14y agoConsidering that you guys had the same funding formula (7k for 7%, give or take) in the funding dark ages of 2004-2005 as you have now when it's much easier to raise money, I think everybody who takes a deal from you, as opposed to better terms from someone else, is there at least partially for the name.
- paul 14y agoCertainly the name has value, and smart founders will use that, but if that's all they are after, then they're missing the most valuable bits (and are therefore probably not very effective founders, and a bad investment).
- tomasien 14y agoThat's totally understandable, I can't even look down on doing it for the "wrong" reason if I'm being honest. Sad for me if it diminishes the likelihood that something that will actually change my life (like Codecademy did) will come around.