Source - http://www.paulgraham.com/ycstart.html
TL;DR - Paul Graham founded Y Combinator, offering a new option for seed funding.
Helpfulness - 5
Tags - y combinator, notable investors, early vc, accelerators, seed funding
- Who is Paul Graham?
- What is Y Combinator?
- Why did he start it?
- How did this alter the fundraising landscape?
- Paul Graham noticed problems with existing VC including a lack of willingness to fund young hackers and a focus on making a few, large investments.
- YC wanted to provide seed funding with standardized terms.
- YC also began to fund startups synchronously.
- The result was a new option for seed funding that offered standardized terms and synchronous / “batch” development to many young founders.
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