January 11: YCombinator’s Motto
With the motto of "Make something people want", YCombinator has helped launch more than 3,000 companies.
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YCombinator (YC) is an American technology startup accelerator launched in March 2005. It has helped launch more than 3,000 companies, including Stripe, Airbnb, DoorDash, Coinbase, Instacart, Dropbox, Twitch, and Reddit.
The motto of YC is “Make something people want.”
“We tell founders not to worry too much about the business model, at least at first. Not because making money is unimportant, but because it's so much easier than building something great.”
- Paul Graham, co-founder of YC.
Brian Chesky, the CEO of Airbnb shared on Twitter that “On your first day of Y Combinator, you get the gray shirt. When you exit (our IPO was one year ago today), you get the black shirt.”
Bonus: Yesterday YC announced a change to their standard deal. When a company is accepted into the YC batch program, they now invest a t otal of $500,000. They still invest $125,000 for 7% and now also invest an additional $375,000 at a valuation that will be later determined by future investors. Read about it here.
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