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David S Rose
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As someone completely unaffiliated with YC and PG, but completely familiar with the world of angel investing into startup tech companies, I feel compelled to jump in here along with everyone else and note that this post is *really* off base Despite the left-handed compliments about how "Like them or not, the future of the web depends on these seed fund incubators like YCombinator..." and "For those startups that can't generate the funds necessary to keep their dreams alive thru the regular channels..." the snarky tone of the piece is simply out of touch with reality. The tiny percentage of Common that YC takes for all the services it provides is, without question, the best game in town. The YC process is not right for every company, but for the ones it's aimed at (one-to-three person, seed stage teams with a good idea), it's not only eminently fair, it's almost like hitting the jackpot. To put things in perspective, take a hard look at the current live industry-wide statistics for angel investing at You will see that of the many tens of thousands of startup companies that seek angel financing each year, fewer than 1.4% actually get funded. The typical organized angel group in the US invests in fewer than ten companies each year...and it's much less than that for VC funds. The fact that YC has invested in over 100 companies so far, and provided them with mentoring, networking, publicity and startup financing, means that they have become a very significant player in the industry in a very short period of time. Add to that the fact that Paul is a very savvy guy who provides excellent advice (including advice about how hard the fundraising process really is, see, and I wouldn't hesitate to recommend YC to any appropriate startup.
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