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Here were my thoughts: "my real suggestion is that Y Combinator should invest more" He's missing the whole point right here. Y-Combinator is like Twitter. Ve
by sscheper 17y ago
Here were my thoughts:
"my real suggestion is that Y Combinator should invest more"
He's missing the whole point right here.
Y-Combinator is like Twitter. Venture capitalists are like bloggers.
With Y-Combinator, like twitter, people just didn't understand how so much value could come out of so little. At first, typing to someone in 140 characters is hopeless. Then you try it, and you realize how much can come out of so little--you become resourceful and cut out the fat you don't need.
Hate to liken them to twitter, but hey, everyone's doing it... (best reasoning ever)
- jgrahamc 17y agoNo, his argument is that as an entrepreneur you could get more cash for less equity by going to an angel. If you don't dispute that fact then the argument comes down to how much you value the YC network vs. an angel's network.
- pg 17y agothen the argument comes down to how much you value the YC network vs. an angel's network Not so. YC's "network" is not the important thing.
- jgrahamc 17y agoBut that's his argument isn't it?
- pg 17y agoNo; he gets that it's a matter of both "advice and connections," though he doesn't seem to realize how much more the former varies than the latter.
- zackattack 17y agoSo YC's principal value is the advice?
- pg 17y agoYes. Number 1, product advice, and number 2, advice about dealing with investors. http://ycombinator.com/about.html http://ycombinator.com/about.html http://www.paulgraham.com/ycombinator.html http://www.paulgraham.com/ycombinator.html
- zackattack 17y agoWould it be possible to publish your product/dealing with investors wisdom into a book?
- pg 17y agoThe essays I've been writing about startups are going to be such a book. Most of the general advice I could give about investors, particularly, I've already given, in e.g. http://paulgraham.com/fundraising.html http://paulgraham.com/fundraising.html http://paulgraham.com/investors.html http://paulgraham.com/investors.html http://paulgraham.com/startupfunding.html http://paulgraham.com/startupfunding.html
- tezza 17y agoYour Submarine essay on PR has been especially valuable advice. I hope it makes any folio/book. It helped my tech-startup to gain the courage to spend a realistic amount on such a vital area.
- lsc 17y agoI think the value of contacts and credibility should not be underestimated. On both ends, really. You have to trust your investors as much as they have to trust you, especially if you don't retain 51%. YC has a lot more credibility than most other entities when it comes to choosing the right startup or the right investor. I would be significantly more likely to accept an investor who was introduced to me by pg.