If you're interested in the history of YC, I think this book is good. (I say "I think" because I haven't read all of it, but the bits I've read seem pretty good.) https://www.amazon.com/Launch-Pad-Inside-Combinator/dp/1591846587 …
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In 2010/2011 the batch sizes started increasing rapidly - I wondered if there was a particular trigger event for that Was there an event/exit/business model change which unlocked YC to scale faster? Espec interested in operational funding of the program
No, we just started getting more applicants. I funded it myself for the first few years. Then it was a fund for a couple years. Then I was able to fund it personally again. In about 2015 it became a fund once more.
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Do the funds have the classic VC structure of 2% mgmt fees / 20% carry? The majority of the support in accelerators are upfront - did you adjust the fund structure to reflect that? (ie take the mgmt fee upfront)
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No, we got better terms than that. I don't remember exactly what they were though. The LPs will make a lot of money.
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