It's interview season for Y Combinator. Diana shares three common mistakes founders should avoid! Apply to Y Combinator: www.ycombinato... Work at a Startup: www.ycombinato...
this was my problem. didnt receive my invitation and as soon as I got there for my interview, they told me I'd made a huge mistake. Over before it even started!
My opening statement: "We have an AI MVP with 150 paying customers - the customers are in the defense, aerospace, mining, and shipbuilding industries. The AI application helps in the design of artificial gravity hulls for undersea, airborne, and underground devices and vehicles" - the "150 paying customers" is a great conversation lubricant.
Would be really interesting to have a video on what kind of founders write good applications but fall down at interview in the ways you’ve described above. It’s interesting that people can write well but can’t present well
I have a reunion with our first client in an hour, we're a marketing agency, and the third tip was an answer for my doubt of: should I make it professional or more personal and human? Thank youuuuuu
Those three questions are not for answering investers, it is most important thing for founder keep asking those questions to themselves over and over again to identify what is the most important thing to do for now compared their always limited time and resources.
You don't mean 'customers' you mean 'prospects.' 'Prospects' don't become 'customers' until 'after' they have 'paid you' for your product or service. At that point they are 'customers' until then they aren't. Also, until someone actually pays you don't have a 'business' you have a 'science project.'
@@sharma4826 Don't say 'we' when 'you' mean 'I.' Thats as bad as confusing 'prospects' and 'customers.' Speaking of 'I'...this 'I' can tell you from personal experience after speaking to a decent number of early stage VC/angel/grant funded startups the number that get this wrong. They refer to prospects and beta testers they've never discussed charging nor do they have any hope of ever monetising as their 'customers.' Here is paraphrased version of a recent conversation: "We have 1,000 customers using the platform" 'Thats great! What's your revenue to date?' "Oh we don't have revenue yet" 'So you have users? When are your users going to start paying for what you do for them?' "We were going to...planning to...in a year...that's why we need more money...then our revenue with will look like this" 'Why can't you start charging your existing users?' "Oh we can't do that they would leave..." This type of interaction used to annoy the sh*t out of me and I would take them to task. Now I just thank them for their time, shake their hands and wish them all the best with their 'next' venture...
I hope this is just a bad joke. There was actually a YC video recently that mentioned it was a common mistake to hire a FAANG employee who often wants/needs a high salary (golden handcuffs).
I am a YC fan, We applied on 24th May by the name of Tiluf, sorry for the late Submission - please consider it We launched on 23rd and got the time and confidence on the 24th- that we are ready now -- please review it -- I hope you guys like us and support us on what we are doing - Looking forward to changing the world with you'll
Probably would consider you the next Winter 2024 batch instead, since you applied 3 days before they hand out decisions. In the meantime, continue building your product and getting customers.
![HIWWHEE | OHM [Official MV]](http://i.ytimg.com/vi/OJJLtTLqLag/mqdefault.jpg)
missed mistake number 0, not receiving yc interview invitation
this was my problem. didnt receive my invitation and as soon as I got there for my interview, they told me I'd made a huge mistake. Over before it even started!
@@reprovedcandy Really? What was that mistake?
My opening statement: "We have an AI MVP with 150 paying customers - the customers are in the defense, aerospace, mining, and shipbuilding industries. The AI application helps in the design of artificial gravity hulls for undersea, airborne, and underground devices and vehicles" - the "150 paying customers" is a great conversation lubricant.
Would be really interesting to have a video on what kind of founders write good applications but fall down at interview in the ways you’ve described above. It’s interesting that people can write well but can’t present well
I have a reunion with our first client in an hour, we're a marketing agency, and the third tip was an answer for my doubt of: should I make it professional or more personal and human? Thank youuuuuu
Those three questions are not for answering investers, it is most important thing for founder keep asking those questions to themselves over and over again to identify what is the most important thing to do for now compared their always limited time and resources.
thanks for the reminders.
Great tips. Thanks!
Super useful.
Yep so true, describe your product in three word
uber for dogs
Hey hey hey ... actually I'm naturally Good at all these things ...I'm 22 Should I apply with my idea .
Always apply!
🙌🏻 Great content:)
Thanks
Noted ma.
Nice
You don't mean 'customers' you mean 'prospects.' 'Prospects' don't become 'customers' until 'after' they have 'paid you' for your product or service. At that point they are 'customers' until then they aren't.
Also, until someone actually pays you don't have a 'business' you have a 'science project.'
Yes… But we all understand what she means.
@@sharma4826 Don't say 'we' when 'you' mean 'I.' Thats as bad as confusing 'prospects' and 'customers.'
Speaking of 'I'...this 'I' can tell you from personal experience after speaking to a decent number of early stage VC/angel/grant funded startups the number that get this wrong. They refer to prospects and beta testers they've never discussed charging nor do they have any hope of ever monetising as their 'customers.'
Here is paraphrased version of a recent conversation:
"We have 1,000 customers using the platform"
'Thats great! What's your revenue to date?'
"Oh we don't have revenue yet"
'So you have users? When are your users going to start paying for what you do for them?'
"We were going to...planning to...in a year...that's why we need more money...then our revenue with will look like this"
'Why can't you start charging your existing users?'
"Oh we can't do that they would leave..."
This type of interaction used to annoy the sh*t out of me and I would take them to task.
Now I just thank them for their time, shake their hands and wish them all the best with their 'next' venture...
Mistake #4, don't come from a FAANG company or an Ivy league
I hope this is just a bad joke. There was actually a YC video recently that mentioned it was a common mistake to hire a FAANG employee who often wants/needs a high salary (golden handcuffs).
Hiring and funding are two different things
So basically just people trying to find a problem for their solution.
Lol pretty much.
I am a YC fan, We applied on 24th May by the name of Tiluf, sorry for the late Submission - please consider it
We launched on 23rd and got the time and confidence on the 24th- that we are ready now -- please review it -- I hope you guys like us and support us on what we are doing -
Looking forward to changing the world with you'll
Probably would consider you the next Winter 2024 batch instead, since you applied 3 days before they hand out decisions. In the meantime, continue building your product and getting customers.
How did it go?
Tiger global is much better
tiger global is a VC fund. YC is an accelerator fund. you can't compare the two.