A maddening fact of these markets is that the protocol is not necessarily equally accessible to all market participants, and sometimes people fail to have a meeting of the minds on whether they’re engaging in it or not.
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One of the brilliant innovations YC has is their handshake protocol, where they formalize “A handshake needs three elements: a valuation, a price, and a written commitment. If you will not offer that, you are not shaking hands. If shake and reneg, you shall incur our displeasure”
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“Displeasure?” You get entered into a computer system which probably has a name that is not The Big Book Of Bozos. YC companies are told to search it prior to selling equity in their companies. It turns bozohood into a more iterated game than it was previously.
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The database also is used keep other startups’ behavior inline by influencing their investors.
@antoniogm has a anecdote in his book that shows its power.Thanks. Twitter will use this to make your timeline better. UndoUndo
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That is why they are superb at being shaggos
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So places that aren't Hollywood.
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