I always felt really gross afterwards because I felt like the interviewee was wronged, but it just wasn't worth the potential conflict with my coworkers/friends if I did anything about it, either during or after. Walking on eggshells and all that.
If you're open to it, I'd love if you could email me the name of your company ([email protected]). We are extremely interested in learning from mistakes like this.
And to be clear, I've invested in plenty of startups with similar models. But I understand your perception of how things went.
I'm curious to hear more. How do you go about this?
There are far too many examples of founders succeeding with an idea after many people before them failed with same idea. I think any good investor is cognizant of this.
What did the co. look like a year before YC application and a year after?
YC today: no Paul Graham, and too many right-wingers.
Picking startups is hard, like picking stocks. You aren’t gonna pick every winner, but frankly 2M in ARR after two years is not exactly a home-run for YC. So, perhaps them passing was the right call for YC.
Congrats though, sounds like you’ve built something useful and you can be proud of that. Plus, taking VC money ain’t all it’s cracked up to be. If you can bootstrap to get to a level that pay’s yourself $200-300k a year, that’s a win.
It's been awhile since I looked at this deeply, but I thought the path of a good startup is to raise a seed with an 18 month runway, grow to 1m ARR, and then raise a series A. Assuming that's true, growing to 2m ARR in 2 years is in the ballpark.
We're now 2 years later pushing $2M ARR profitably and about to raise our Series A. YC not taking 7% of our company was the best thing that ever happened to us.
YCombinator is nothing like what it used to be. The majority of the partners are useless as venture partners.