Ron Conway steps back as Y Combinator cuts team funding(news.cnet.com)
news.cnet.com
Ron Conway steps back as Y Combinator cuts team funding
http://news.cnet.com/8301-32973_3-57554351-296/ron-conway-steps-back-as-y-combinator-cuts-team-funding/
1 comments
PG - I wish you can reply :)
PG - will cutting the initial funding to 80K give Y combinator a better chance to scale? Will you be giving opportunity to diverse companies due to more money being available at your disposal?
PG- my humble request to you is - can you invest the money saved due to this change in diverse companies/founders?
I know you have always said - that you like to invest in people who are like you - i.e. hackers. I, however, have always thought of Y Combinator as brewing pot of coffee. The only issue is the person brewing the coffee - i.e. you, PG, - only likes cream (i.e hackers) in his coffee (Y Combinator) and therefore, the only choice the world gets from this, otherwise brilliant coffeemaker, is a plain black coffee or a coffee with cream. My humble question and a request is can the person brewing the best pot of coffee be more inclusive and experiment with other choices such as coffee with sugar (single founders) and coffee with splenda (non-technical founders)in a statistically significant way?
PG - I know the final product will be very different but the world will get more choices and, more importantly, the reduction in funding from $150K to 80K would actually create additional opportunities for diverse group of deserving companies!