4 ms·
You are a victim of YC's marketing. First of all, if you don't need their money, don't sell part of your company to them. And, if you do need their money, don't
by bls 20y ago
You are a victim of YC's marketing. First of all, if you don't need their money, don't sell part of your company to them. And, if you do need their money, don't make it so obvious or you'll have no room to negotiate the equity you are selling them: people keep saying $15,000 for 6% but those are just averages--the equity range I have heard about was 1.5%-12%. I think you would be a 12%-er for sure.
If I had a good idea that I believed in, I would go to my friends and family and ask them to loan me $2,000 a month for eight months. If I succeeded, I would pay them back their money + interest + whatever I felt like giving them as a gift. If I failed, I would get a real job and pay them back in a few months time.
- mukund 20y agoBLS you are missing a point. Money isnt the only thing at stakes. You need good mentors, advisors and backing of them to actually built a sturdy one. This $15k or $20k isnt what one wants, it works the other way, we are using YC/PG et al to learn few things we dont know. They are giving you one complete solution of taking idea to reality. The money you borrow from parents, friends et al wont come with that help. Plus YC isnt saying that u sign up for life with us, they are showing you a way by teaching you priceless things for nothing. Even if they take 99% of equity, 1% comes with 100% experience and happiness to have achieved something. Plus for some one smart, this isnt the ONLY IDEA, this is just a beginning :)