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by jasonmcalacanis
3750 days ago
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The issue here is that the way Sam originally wrote his response, he was clearly saying I leaked information and changed a deal on a startup -- two things I've never, ever done. There really is no upside to leaking information on a startup if you're an investor (all these leaks come from employees typically). On changing a deal, I'm really blunt about what I think a startup is worth... I just tell folks "I would value the company at X, if you can get 3X I suggest you go for it!" In fact, my candidness on this issue has kind of gotten me into this mess with YC to begin with (they haven't appreciated me saying stuff like "only an idiot would do an uncapped note" and "paying a $15m cap to a company with six weeks of data is just dumb." ). |
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