Tech

How Y Combinator Changed the World


this month ah successful business-entertainment newsletter written by an influential reporter who teamed up with publishing legend Janice Min to form a start news. Buried in the story is a fascinating detail: The co-founders signed up to spend three months Y Combinator accelerator program.

If you weren’t paying attention, this news might startle you. Why would a magazine diva join a mob of junkies, giving up 7% of her company for the $125,000 in shares YC offers to startups? But after nearly 17 years and 3,200 companies, Y Combinator has evolved into something far beyond training for tech brethren.

In its most recent round, YC selected 401 companies out of more than 16,000 registrants to earn its mark along with coaching from veteran founders in product building, business planning, and business planning. Fundraising. On August 31 and September 1, 377 of them introduced their company—from far away, of course – for the investing community in a semi-annual ceremony known as Referral Day. Each company founder has one minute to explain himself: just enough time to plant the seed in the mind of a potential sponsor.

Their ideas reflect YC’s tacit view that for all problems in the world, there is a starter solution, although some of the solutions sound familiar. There is a ghost kitchen in the Philippines. A “Stripe for the countries of the former Soviet Union.” A “Pioneer for India.” A founder has promised to increase earnings from dental operations by using deep learning to identify cavities. Another founder declared, “We’re building a better search engine than Google!”

At the end of each 60-second throw is a Spartacus-like battle over the company’s name.

We are… Whalesync!

We are… Striving to pay!

We are… Yemaachi Biotechnology!

There are no guarantees when it comes to starting a business, and indeed most fail. But inclusion in the Y Combinator program is certainly one thing; YC has launched companies with a total valuation of $400 billion; Its alumni include well-known companies like Dropbox, Airbnb, Stripe, CoinBase and DoorDash. There are other names you might recognize: Substack, Instacart, Scribd, OpenSea. In most cases, companies enter the program at a zero valuation, but many YC founders have more lucrative options and understand what can look like a bad deal on paper. sheets are really a bargain. Even experienced founders have decided to join the program, some for multiple levels of study. And then there’s the stray publishing icon like Ms. Min.

So what do you get when you join? Sure, there’s counseling. YC has also greatly simplified what would normally take weeks — combining, trading, setting up web services and, above all, connecting with the right investors — a lot through the software, of course. soft. “We are like Crispr for startups,” said Geoff Ralston, president of YC since 2019. “Startups come to YC with raw DNA. We edit their DNA so they have alleles that make them more likely to succeed.” Those techniques are widely available — hundreds of thousands of people have attended the program’s open Entrepreneurship Schools — and have been adopted by hundreds of imitators. accelerators, incubators and training camps, even some inside the corporation like Google’s Area 120. Y Combinator already has more than 3,500 hosting companies, but countless others have used its blueprint.

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