A Quote by Patrick Collison
I actually made a website called Y2 Combinator, which was the Y Combinator that starts Y Combinator clones. There's a very clear difference in the quality between the companies that come from YC and the companies that don't.
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The thing about Y Combinator that's cool is that most companies won't happen if we don't fund them.
One of the things we urge Y-Combinator companies to do is to have profitability in grasp. If you need to get profitable before your A round of money, you ought to be able to do that.
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.
Loopt wouldn't have happened without Y Combinator.
One of the reasons I think Y Combinator is so powerful is because it creates a new social norm, especially for those who come from outside Silicon Valley.
That culture of frugality and discipline is really important for the Y Combinator mindset.
In 2007, there weren't any other accelerators, at least that I was aware of. We were almost the prototypical Y Combinator founders: We were highly technical but had never done a startup before. We also didn't know anyone in the Valley - investors, other entrepreneurs, potential hires. YC seemed like a great way to bootstrap that network.
After selling Twitch, I worked at Y Combinator, investing as a partner there for a couple of years.
Finding entrepreneurs from diverse and international backgrounds is a top priority for us at Y Combinator.
Everyone is on Facebook. It is very rare that I can't find a startup. Out of the 72 Y Combinator startups, almost all of them were on Facebook.
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.
Sometimes people think Y Combinator has big ideas about themes. But really, we just fund the best startups.
We were very, very lucky being in the first round of Y Combinator because that alone generated a lot of interest. A lot of readers of Paul Graham were just excited to see what was going to come up. And we were the first ones to launch.
The most common post YC failure case for the companies we fund, is they're incredibly focussed during YC on their company... and after they start doing a lot of other things. They advise companies, they go to conferences, whatever.
When I first heard about Y Combinator, it was one of those ideas that just seemed forehead-slappingly obvious. Good ideas often do, in retrospect.
We have co-opted seed funds. You know, Y Combinator, that was completely our money. We have secret handshakes with a whole bunch of people. Very dangerous, because word gets out that so-and-so's money is Sequoia's money, that would not be a good thing.
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