1) YC Partners are told immediately (we have a WhatsApp group with every single company)
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Investors in YC companies please remember. When you make extremely non-standard complicated requests, waste founder time, don’t follow handshake deals, take forever to wire money, or otherwise screw around with a YC company during fundraising the following happens:
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2) It’s written up in the YC investor database for future YC founders to read
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3) It’s communicated to YC legal team so that they can advise the company on how to respond
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It’s a small community. We tell our founders to be polite, respectful of your time, and follow industry best practices. Investors please follow the same advice. We are watching.
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And if you see a founder not acting correctly - please email me and I’ll be happy to reach out to them. Michael@ycombinator.com
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PS: if you don’t know best practices - here is a guide:https://blog.ycombinator.com/category/startup-investor-school/ …
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“Extremely non-standard complicated requests” doesn’t sound anything like what YC asks of admitted founders
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What are you referring to?
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I would humbly submit that 5-7% of the companies with just a $120K investment, and participation rights on that full amount, often refusing to cut back even at the founders’ request, is not the most founder-friendly arrangement and constitutes “non-standard”.
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To be clear, I think YC has done amazing things for founders. I simply challenge whether the percentage taken—and insistence on pro-rata on those advisory shares rather than invested amount (effectively super super pro-rata)—vis-a-vis batch size are in line with YC’s own ideals.
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[Context:] I often take the counter-culture stance to tease out true answers from myself, others. I am not anti-YC but seek to be a challenging view in a field where you are often praised without question, esp publicly. Many are scared to speak out against YC due to the herds.
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Window shoppers are awful, but the worst thing I've seen is a VC who wasted tons of a startups time, then left the fund and replicated the idea. The poetic justice is he failed miserably
and the startup he screwed is crushing it.pic.twitter.com/AEZRChHZUZ -
Good riddance. Any idea can be replicated but you can never replicate the passion and execution.
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There should also be a register for companies that pretend to help startups but only want to steal their cash for unnecessary services and add no value
@solidstategroup - 1 more reply
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Michael is not fucking around, I love it. YC should integrate with
@KnowYourVC and make good (and bad) investor behavior public. - 1 more reply
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