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>In fact, I would argue that Altman, Andreesen, PG, et al. are not even "trying to build $1BN+ companies". > Their track record is amazing, but ~97% of the bus
by Permit 12y ago
>In fact, I would argue that Altman, Andreesen, PG, et al. are not even "trying to build $1BN+ companies".
> Their track record is amazing, but ~97% of the business's they have invested in have not "made it big", so to speak.
That's entirely beside the point. They are specifically looking for those rare, billion dollar companies.
See: http://paulgraham.com/swan.html http://paulgraham.com/swan.html
The fact that most of the companies don't hit $1 billion is not at all relevant. That's to be expected when hunting for companies that are rare by definition (black swans). It speaks nothing to the intent of the investors.
- jacquesm 12y agoBut it makes all the difference to the companies they invest in, even the ones that don't make it big and the same goes of course for the founders of those companies. If YC and their competitors want to maintain their pace they have to have everybody aim to swing as hard and as high as they can otherwise those successes won't be there either. If they knew up front who will succeed they would not be using this model.