Re:Current value of the top 30 YC companies is about $575B
by lordnacho on Monday November 01, 2021 @10:48AM
(#29067258)
> What exactly is the innovation? Don't get me wrong, YC as an investor is truly compelling but I don't see anything uniquely innovative about their "schooling aspect". They are commercially successful because they have the largest and greatest deal flow engine in tech venture.
I think it's in the "here's how to do it" aspect that's innovative, if you can call it that. Before YC you easily ran into the myths like "you have to have a great idea" or "keep everything secret or you'll get scooped". There was no player that was clearly and loudly saying "It won't work every time, but here are some learnings about capital structure, marketing, hiring, etc, and here are some people you can talk to, now go and give it a try."
Was YC the first? Probably not. Was the message new? Probably not. But it was out there being very open about it, and I think that helped a lot of people.
I think it's in the "here's how to do it" aspect that's innovative, if you can call it that. Before YC you easily ran into the myths like "you have to have a great idea" or "keep everything secret or you'll get scooped". There was no player that was clearly and loudly saying "It won't work every time, but here are some learnings about capital structure, marketing, hiring, etc, and here are some people you can talk to, now go and give it a try."
Was YC the first? Probably not. Was the message new? Probably not. But it was out there being very open about it, and I think that helped a lot of people.