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• Sam Altman on how to get funded by Y Combinator
  • there's some really good advice here, I should transcribe it.

Summary of the reported benefits of YC

• Excellent advice
  • The mentor advice is amazing. Just one little piece of advice will completely alter the trajectory of your company. That's happened to us three times. (Source)
    
  • The biggest help of YC is ... knowing what is and isn't important, IMO. (...) Especially with such a small time window, you have to do the single most important thing. (Source)
    
• Focus during the program / an acceleration of the founders' seed-stage rate-of-product-development
  • The biggest help of YC is the focus and knowing what is and isn't important, IMO. (...) Especially with such a small time window, you have to do the single most important thing. (Source)
    
  • IIRC Parker Conrad mentioned in an interview that he and his cofounder really benefited from the "build the product" focus that the YC experience provided.
• Better fundraising: greater ease of attracting offers / higher valuations / better deal terms 
  • I have noticed that when investors get a whiff of "YC" they start to beat down your door... (Source)
    
• The network
  • 
    
• The initial seed money
  • Positive references:
    
  • Neutral references:
    • YC gives you $120k, so you generally live on that [while going through YC]. (Source)
      
  • Negative references:
    • We haven't touched the money, so probably not that. (Source)
      
• The confidence-boost / status
  • Benefits? (...) the stamp of approval of being a YC founder (Source)
    

Is YC worth it?

• Undated
  • Close.io - Y Combinator is a waste of time—unless you do THIS
  • Paul Graham - The Equity Equation
  • Quora - Is Y Combinator worth it?
  • Quora - If you did Y Combinator and regretted it, what were your reasons?
  • Quora - Does anyone regret going through TechStars, Y Combinator or other top accelerators (or incubators)?
  • Quora - Who has regretted participating in Y Combinator and why?
  • Quora - Is Y Combinator asking too much equity for 120k worth of funding?
  • SaaStr - Jason Lemkin - What are the benefits of YC, is it worth it if you don’t plan to raise money right away?
• Dated
  • 2011.03.15 - Martin Kleppmann - What's so special about Y Combinator? ← cofounder of Rapportive
  • 2012 - StartupGrind - The Happiest Words a Founder Can Say: "I Got Into YCombinator"
  • 2013.08.27 - Techendo - Rejected from YC? Here is what you're missing out on.
    
    • HN discussion
      • There are comments by YC founders in which they talk about whether YC is worth it.
  • 2014.02.15 - TechCrunch - Was YC Worth It?
    
  • 2015.04.22 - YesGraph / Ivan Kirigin - Is YC Worth It / The Valuation Boost Needed to Justify YC Will Surprise You
    
  • 2015.05.20 - Reddit - Is YC overrated?
    
  • 2017.07.14 - Reddit - AMA: I'm a founder in the current Y Combinator batch
    

What chance does a 52-year-old non-coding technical single founder with ideas for global unemployment solutions have of participating in YC W15?

Tyler Menezes, YC alum (Framebase, S12)
667 Views • Upvoted by Parker Conrad, Co-founder, Zenefits (YC W13)
Essentially zero, but it has nothing to do with your age. Ideas are essentially worthless without execution, and you haven't brought up any actual skills you have other than "ideas" and "resourceful". (Being resourceful is definitely a plus, but you need the skills to bring the product to market.)

Written 28 Sep, 2014 • View Upvotes

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