January 11: YCombinator’s Motto
January 11: YCombinator’s Motto
With the motto of "Make something people want", YCombinator has helped launch more than 3,000 companies.
Today’s fact is sponsored by TrueUp:
Founded by an ex-AWS product leader, TrueUp scans 400,000+ open tech jobs from all top startups, unicorns, and big tech and sends you weekly updates of the ones most relevant to you. Sign up for free.
If you would like to sponsor Fact of the Day 1, check out my sponsor kit.
Source: Paul Graham, Brian Chesky
Published: April 2008, December 2021
YCombinator’s Motto
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.
If you’d like to sponsor Fact of the Day 1, please email us at factoftheday1@substack.com.