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That's why Y Combinator is funding startups this summer as usual, even if the batch has to be partly or wholly remote. YC knows this from experience. Airbnb was in the winter 2009 batch.
(Airbnb was founded about a year before. But they were dead at the point when they applied to YC in late 2008. They made the decision to resuscitate themselves and take another shot when everyone else was running for cover.)
You are claiming success depends on determination. In Airbnb case success relied on funding. Can you explain where the determination is here? I see more investors determination
If a room-renting startup selling cereal to survive isn't determination, I don't know what is.
What risk is being taken starting a company in an economic climate that offers limited alternative opportunity? Motivations and determination of founders starting now should be deeply challenged to validate long term dedication.
Airbnb example is a stretch. They represent startups that were searching for product/market fit pre-pandemic that are currently making tough decisions to navigate these times in order to come out on the other side and see their vision through.
The same http://localites.co facing. Hope to recover with it soon. We don't see a way back as long as we're safe and healthy.
If it’s going to be remote. Can I still apply? I know the application ended earlier this month
Do you think AirBnB may crash the US housing market? Thousands of super-hosts who bought 10, 20, 30 properties w/ mortgages & are heavily levered...how likely are they to default? Without travel there is no rental income to pay these mortgages. In 2-3 months-2008 all over again.
Airbnb eventually turned out to become a beast! Almost the perfect startup example.
Wonder how many startups, accepted in 2008, are still in market and have gone onto become billion dollar companies.
Started a system integration company that did smart homes and buildings in August 2008! The next two years were the most difficult years of my life (so far). But I learned how to survive while trying to achieve the dream.
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