Comments on: Considering Y Combinator (or any seed funding)? http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/ Pathologically Entrepreneurial Sat, 04 Sep 2010 04:40:39 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Tony Wright http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1839 Tony Wright Sat, 13 Mar 2010 06:23:52 +0000 http://www.tonywright.com/?p=123#comment-1839 Fixed-- thanks Scott! That's why I'm a blogger and you're an author. :-) Fixed– thanks Scott! That's why I'm a blogger and you're an author. :-)

]]> By: Scott Berkun http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1838 Scott Berkun Sat, 13 Mar 2010 06:19:53 +0000 http://www.tonywright.com/?p=123#comment-1838 Just fyi: you have a typo in the first bullet<br><br>"NOT the magnitude of your it should it happen." Just fyi: you have a typo in the first bullet

“NOT the magnitude of your it should it happen.”

]]> By: Tony Wright http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1796 Tony Wright Fri, 12 Mar 2010 22:23:52 +0000 http://www.tonywright.com/?p=123#comment-1796 Fixed-- thanks Scott! That's why I'm a blogger and you're an author. :-) Fixed– thanks Scott! That's why I'm a blogger and you're an author. :-)

]]> By: Scott Berkun http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1795 Scott Berkun Fri, 12 Mar 2010 22:19:53 +0000 http://www.tonywright.com/?p=123#comment-1795 Just fyi: you have a typo in the first bullet<br><br>"NOT the magnitude of your it should it happen." Just fyi: you have a typo in the first bullet

“NOT the magnitude of your it should it happen.”

]]> By: webwright http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1781 webwright Thu, 25 Feb 2010 01:20:16 +0000 http://www.tonywright.com/?p=123#comment-1781 Hey there-- YC is strictly Silicon Valley, though I'd guess that 50% or more of the founders fly in and set up shop to do it (we relocated temporarily from Seattle). It's very much worth it.<br><br>Lots of details are available at <a href="http://www.ycombinator.com" rel="nofollow">http://www.ycombinator.com</a> Hey there– YC is strictly Silicon Valley, though I'd guess that 50% or more of the founders fly in and set up shop to do it (we relocated temporarily from Seattle). It's very much worth it.

Lots of details are available at http://www.ycombinator.com

]]> By: premierinterns http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1780 premierinterns Wed, 24 Feb 2010 23:52:44 +0000 http://www.tonywright.com/?p=123#comment-1780 My business partner and I launched <a href="http://PremierInterns.com" rel="nofollow">PremierInterns.com</a> in the fourth quarter of 2009 and have been growing in a snails pace. The reason being is because we have been bootstrapping the entire project. We're at the point of maybe trying to reach out to angel investors or joining an incubator. I'm kind of curious to see if <a href="http://PremierInterns.com" rel="nofollow">PremierInterns.com</a> will qualify to be part of Y Combinator. If so, I hope they have a branch in San Diego, CA. My business partner and I launched PremierInterns.com in the fourth quarter of 2009 and have been growing in a snails pace. The reason being is because we have been bootstrapping the entire project. We're at the point of maybe trying to reach out to angel investors or joining an incubator. I'm kind of curious to see if PremierInterns.com will qualify to be part of Y Combinator. If so, I hope they have a branch in San Diego, CA.

]]> By: MicahWedemeyer http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1779 MicahWedemeyer Wed, 24 Feb 2010 22:37:41 +0000 http://www.tonywright.com/?p=123#comment-1779 I'm proud to count myself as a "lifestyle entrepreneur" these days. I once dreamed of VC funding and those sort of things, but now all I want is to work on what I like. My chances of getting rich are pretty low, but my chances of permanently saying goodbye to the average work world are looking better every day. I'm proud to count myself as a “lifestyle entrepreneur” these days. I once dreamed of VC funding and those sort of things, but now all I want is to work on what I like. My chances of getting rich are pretty low, but my chances of permanently saying goodbye to the average work world are looking better every day.

]]> By: webwright http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1778 webwright Wed, 24 Feb 2010 21:08:40 +0000 http://www.tonywright.com/?p=123#comment-1778 Rock on, Micah! I hope you didn't take my remark as disparaging. I'm an<br>old-school pen and paper guy myself (though it's been a few years). It's a<br>cool space.<br><br>I think there are two spectrums to worry about as an entrepreneur. Chance<br>of viability and chance of "blow up to be HUGE". Lots of very viable<br>businesses have functionally zero chance for venture-sized returns. Lots of<br>monster-potential startups have nearly zero chance to be viable (they are<br>"all or nothing" plays). VCs would rather fund 10 companies and have 9 fail<br>(but the other one be Google) than funding 10 companies and have all 10 look<br>like your company (or mine-- right now! :-) ).<br><br>Check out the end of this second:<br><a href="http://www.seomoz.org/blog/seomozs-venture-capital-process#gettingintros" rel="nofollow">http://www.seomoz.org/blog/seomozs-venture-capi...</a> for<br>a great rundown about this. The whole post is fabulous if you have the<br>time!<br><br>To say that a business isn't right for venture financing isn't a bad thing.<br> In fact, a lot of high-chance-of-viability business are a helluva lot more<br>admirable and impressive to me than a lot of "shoot the moon" bullshit<br>startups.<br><br>Grats on your success! Rock on, Micah! I hope you didn't take my remark as disparaging. I'm an
old-school pen and paper guy myself (though it's been a few years). It's a
cool space.

I think there are two spectrums to worry about as an entrepreneur. Chance
of viability and chance of “blow up to be HUGE”. Lots of very viable
businesses have functionally zero chance for venture-sized returns. Lots of
monster-potential startups have nearly zero chance to be viable (they are
“all or nothing” plays). VCs would rather fund 10 companies and have 9 fail
(but the other one be Google) than funding 10 companies and have all 10 look
like your company (or mine– right now! :-) ).

Check out the end of this second:
http://www.seomoz.org/blog/seomozs-venture-capi... for
a great rundown about this. The whole post is fabulous if you have the
time!

To say that a business isn't right for venture financing isn't a bad thing.
In fact, a lot of high-chance-of-viability business are a helluva lot more
admirable and impressive to me than a lot of “shoot the moon” bullshit
startups.

Grats on your success!

]]> By: webwright http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1776 webwright Wed, 24 Feb 2010 14:14:42 +0000 http://www.tonywright.com/?p=123#comment-1776 Great to hear! There are a lot of posts like this out there-- I tried to add a few tips/thoughts I hadn't read before. Holler if there are other niggling questions. Great to hear! There are a lot of posts like this out there– I tried to add a few tips/thoughts I hadn't read before. Holler if there are other niggling questions.

]]> By: webwright http://www.tonywright.com/2010/considering-y-combinator-or-any-seed-funding/comment-page-1/#comment-1777 webwright Wed, 24 Feb 2010 14:14:03 +0000 http://www.tonywright.com/?p=123#comment-1777 I'm a glutton for punishment.<br><br>Truth be told, I think it's a no-brainer for anyone who DOES have resources at their fingertips. Look at it this way-- you're giving up 6% or so of a company that barely exists. In exchange, you get PR that you couldn't buy for tens of thousands of dollars, advice that could make or break your business, credibility that will drive up your valuation (likely more than compensating for the 6% you give up), investor introductions that shorten your fundraising time and make fundraising more competitive (for the investors!), and YC in your corner making sure that investment terms aren't predatory.<br><br>Sure, if Bill Gates wanted to spin up a startup, he probably wouldn't need YC. But if you don't having funding in your pocket, I think it's a no-brainer wherever you are. I'm a glutton for punishment.

Truth be told, I think it's a no-brainer for anyone who DOES have resources at their fingertips. Look at it this way– you're giving up 6% or so of a company that barely exists. In exchange, you get PR that you couldn't buy for tens of thousands of dollars, advice that could make or break your business, credibility that will drive up your valuation (likely more than compensating for the 6% you give up), investor introductions that shorten your fundraising time and make fundraising more competitive (for the investors!), and YC in your corner making sure that investment terms aren't predatory.

Sure, if Bill Gates wanted to spin up a startup, he probably wouldn't need YC. But if you don't having funding in your pocket, I think it's a no-brainer wherever you are.

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