American - Businessman | October 7, 1982 -
A lot of times when you're an investor, it's very easy to lean back and say, 'Well, people should come to me in Silicon Valley.' YC has the opposite opinion.
Michael Seibel
PeopleMeOpinionEasyYouBack
One of the things that's so interesting when talking to minority founders specifically is that there is really a knowledge gap in understanding what the risk-reward profile is for doing a startup.
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It turns out that one of the biggest drivers of investors are both successful and non-successful startup founders.
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At its core, what's amazing about YC is you don't have to work to get in. You don't have to know anyone, so there isn't some type of old boys' club.
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Minorities often feel like they are on the outside looking in when it comes to the Valley and tech start-ups in general.
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What I Iove about Y Combinator is that it is a level playing field. If you get in, you immediately become a Silicon Valley insider.
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The number one problem companies have during the Y Combinator interview is that a minute into the interview, we don't know what they do. It's the same problem with the application. You might think we're experts, but you still have to explain it to us.
ThinkProblemYouKnowExplainSame
A funny thing happens when you go to another country or invest in a company from another country. Suddenly everyone in that community realizes that YC is for them, too.
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The first time I went through YC, it was smaller, and the founders were younger. The advantage of that was that the set of founders who were older than us had really seen the Web 1.0 meltdown. They brought that knowledge to us.
KnowledgeTimeFirst TimeFirstWeb
There is a directory where you can explore every single person who has gone through YC and a private forum that only founders can participate in.
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One of the most fun and interesting things about YC is that we are kind of a startup ourselves. We are constantly changing and evolving what we do.
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Startups are often best at solving the personal problems of their founders. The more diverse the founders, the more types of problems can be solved - and the more people who will be positively impacted by technology.
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