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I think this was a terrible post, it was inaccurate on several points, and the ones it was not were largely things that are 'table stakes'. Complaining about be

I think this was a terrible post, it was inaccurate on several points, and the ones it was not were largely things that are 'table stakes'. Complaining about being on the VC track coming out of an accelerator, or having a convertible note is like complaining about graduating college with student loan debt. They then proceeded to extrapolate what going through the program wouldn't do for them, without any experience going through the program. I've been through it, it was fantastic, they are confused or wrong about most of their points. I completely respect that you are in the bootstrap your business camp, and that 1871 isn't your scene. But this post has confirmation bias written all over it. TS Chicago has been a boon to many of the companies that went through it, and that is the only measure of success anyone should care about.

tptacek 12y ago
You're the face in my brain when I write things like "I hope nobody sees me saying everyone who works at 1871 is playing house". I know you aren't. Frankly: I am skeptical of all but the first tier of startup accelerators, and I am especially skeptical of startup accelerators based in Chicago, a locale not conducive to funding. One argument the post made that I'm confident is correct is that the accelerator model, when it ever makes sense, does so only when the company is on a trajectory towards raising funds. I also find the idea that Excelerate charges more than YC to be jarring. It shouldn't be controversial to say that YC is the more impactful of the two programs.
- chrisduesing 12y ago
  I won't get in to fundraising in Chicago in a public forum, but you aren't hearing me argue. That said, fundraising typically only requires a warm intro. Techstars alums can get to pretty much anyone in the country. Our fundraising was not held back by access, it simply required purchasing plane tickets. I should shut up though, our Series A lead ended up being a new firm in Chicago, and they are great. Again, if you aren't planning on fundraising, don't go through an accelerator. They are seed stage investment vehicles. Once you take investor money the clock starts ticking on an exit. Perhaps that should be in bold print somewhere, but we all read HN, this should be fundamentally understood by everyone. I would counter argue that Excelerate/TS isn't expensive, given the stage that they come in they are severely diluted by the time you raise an A, and they have a business to run. I think you could make an argument that YC is by comparison cheap, not a bad thing considering their track record.
  - tptacek 12y ago
    You should let me buy you coffee sometime to make up for being dismissive of TS. :)

tptacek 12y ago

You're the face in my brain when I write things like "I hope nobody sees me saying everyone who works at 1871 is playing house". I know you aren't. Frankly: I am skeptical of all but the first tier of startup accelerators, and I am especially skeptical of startup accelerators based in Chicago, a locale not conducive to funding. One argument the post made that I'm confident is correct is that the accelerator model, when it ever makes sense, does so only when the company is on a trajectory towards raising funds. I also find the idea that Excelerate charges more than YC to be jarring. It shouldn't be controversial to say that YC is the more impactful of the two programs.

chrisduesing 12y ago
I won't get in to fundraising in Chicago in a public forum, but you aren't hearing me argue. That said, fundraising typically only requires a warm intro. Techstars alums can get to pretty much anyone in the country. Our fundraising was not held back by access, it simply required purchasing plane tickets. I should shut up though, our Series A lead ended up being a new firm in Chicago, and they are great. Again, if you aren't planning on fundraising, don't go through an accelerator. They are seed stage investment vehicles. Once you take investor money the clock starts ticking on an exit. Perhaps that should be in bold print somewhere, but we all read HN, this should be fundamentally understood by everyone. I would counter argue that Excelerate/TS isn't expensive, given the stage that they come in they are severely diluted by the time you raise an A, and they have a business to run. I think you could make an argument that YC is by comparison cheap, not a bad thing considering their track record.
- tptacek 12y ago
  You should let me buy you coffee sometime to make up for being dismissive of TS. :)