This is an (unintentionally) wonderful example both of how much "culture fit" still matters in Silicon Valley, and how the dynamic called investor storytime works. Company tries to create recurring revenue overnight so it can... unlock free investor money.https://veed.io/blog/rejected-from-yc/#update …
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This story of tech bros slamming brewskis down at the hostel is then turned into a pluckish writeup that can climb the front page of Hacker News, where hopefully other investors will see it and decide to be more generous than YC. This is how you game a planned economy in 2019
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Smart people respond to incentives, and we're going on 20 years now of the incentive being "learn how to make rich people with enormous amounts of investment capital feel visionary by paying you". WeWork is emblematic but the problem has broken an entire generation of tech minds
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I'm a big fan of capitalism, but it only works if there are enough participants in the market to channel resources to where they're broadly useful. In SV, the "market" is just a few hundred large egos with access to almost infinite investment funds. It optimizes for self-delusion
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I'm not kidding about the "culture fit" part, either. Two guys in their twenties who gave up their life savings to follow a crazy dream! Not a story you'll hear a lot at YCombinator.pic.twitter.com/yNi7D4mRGu
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Replying to @Pinboard
YCombinator has helped founders such as Brian Chesky, as well as the founders of Stripe create very big companies. giving up years of your life to try and create something out of nothing is the story of most founders, successful or not.
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The Collisons came from a ludicrously rich family, and took no risk. Chesky took part in Uber's 2010 seed round, and came from a town with a median $94k income.
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Replying to @throwawayayayyy @Pinboard
So the Collisons could have chosen to basically not work their asses off to create a $36B company, it just proves the point. Brian Chesky lived on Ramen to have a profitable company in the early days, but I guess all that doesn't count.
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You have any more you can teach me about trying to make ends meet while building a profitable company?
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Replying to @Pinboard @throwawayayayyy
My purpose is not to reach you anything. I have respect for every entrepreneur which invested his time and resources to build a valuable company. I don’t agree with the accuracy of generalizations or disqualifications of hard working people based on their parents income.
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