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I always kinda wonder about the mechanics of the new idea after YC (with the same team). Given that PG says, "the idea will oftentimes change", are these new i
by webwright 17y ago
I always kinda wonder about the mechanics of the new idea after YC (with the same team). Given that PG says, "the idea will oftentimes change", are these new ideas under the banner of the same company? In other words, are they still YC companies and does YC still have equity?
I suppose removing YC from the equation is as simple as getting a new biz license, but what are the "rules" here?
- pclark 17y agoif I'd been thru YC and changed my idea massively I'd fight hard to maintain YC with my company.
- rokhayakebe 17y agoI don't think they massively changed their idea. They demoed a few months back with a nearly identical product.
- carterschonwald 17y agoI think it works roughly as: if its a different business entity, then unless ownership in the previous entity is converted over in some fashion, YC has no equity stake in the new business
- webwright 17y agoHeh, I know how it legally works. A $25 biz license and you're free of YC, theoretically. I guess I was wondering more about what the appropriate thing to do here is and what YC expects to happen. I personally would try hard to keep YC's skin in the game (though I might try to re-apply to YC just to get access to the demo day).
- dannyr 17y agoBased on whather's previous submission, it looks like their previous startup is Meetcast which seems similar to TeamApart. "Meetcast.com makes real-time online collaboration easy. There are no downloads, everything is completely in the browser and conferences can be created and joined with a single click."
- rokhayakebe 17y agoThe product is the same.
- ivankirigin 17y agoYou can't just take the assets of the company and give them to another. I think that would require some kind of asset transfer or purchase, which could involve the preferred stock holders. That's just a guess.