[dgfitz]

I guess I don’t get it, and I’d like to. Y-Combinator enables connections and mentorship along with a stipend. This allows a team to work full time for a few months, having quit or taken a hiatus from their day job.

So the risk is $dayjob unless you’re a serial founder, the reward is the connections and money to float for a few months, while selling I think 10% of your company? The odds of your idea working out, even under the umbrella, aren’t great. Is that accurate?

[senko]

My feeling is that if you think quitting the day job is risky, you probably won't fit the profile YC and VCs look for.

YC is an enormous brand in the VC and startup industry, and as a YC startup doors open to you that would be harder to pry open otherwise. The connections, and willingness of people to "pay it forward" are a huge (probably biggest) asset.

The odds of your idea working are not great, that's correct. YC does encourage you to experiment and fail fast so you have time to adapt the idea or try another one. If all fails, having had a YC startup means it'll be easy to get into other startups (if you like the lifestyle - and you really have to like it!).

That sad, YC is what you make of it. You get encouragement and support but nobody's going to force you to take advantage of all the things they have to offer.

Watch a few episodes of https://www.youtube.com/playlist?list=PLQ-uHSnFig5Nd98Sc9I-k... If you get a feeling "omg I want to work with those guys", then you might be a fit. If you get a feeling of "dude, no", then you're probably not a fit.

[dgfitz]

Thank you for the explanation, that is very helpful.

You said “ My feeling is that if you think quitting the day job is risky, you probably won't fit the profile YC and VCs look for.”

And

“ The odds of your idea working are not great, that's correct.”

So it is kind of geared towards wealthy people?

[Swizec]

> So it is kind of geared towards wealthy people?

Or young enough that there’s not much more to lose than a few years.

If you’re choosing between going to a masters/phd or YC, then you’re in the right place. Or if you got laid off from a FAANG and looking for something fun to do while your severance lasts, doing a YC startup will beat other things you could add to your resume during this time.

And if it works, great you’re on your way to something cool. If it doesn’t, then at least you had a fun gap quarter.

But the people who really build successful companies don’t need any of this stuff. If you’ve got traction, VCs will find you.

~15 years ago I really wanted to get into YC. Now I realize that was because I wanted to be a founder more than I wanted to build a successful business. These days I focus on making the money machine go brrr and that's been working much better for me.

[n2d4]

It's geared towards people who want to become wealthy, and are willing to take the risk that it needs to get there.

500k is enough to get you by for a few years at least, even in the bay area. You might not be able to afford champagne at the club every weekend, though.

[tptacek]

So it is kind of geared towards wealthy people?

In the sense that everybody with an established career in this field is "wealthy" relative to most other working people in the economy, yes.

[senko]

Others have given good answers, but what I meant here was you got to have a certain appetite for risk, (naive?) confidence in your abilities, few family/monetary obligations, willingness to go to the extremes, and at least a bit of disdain/boredom in your current job.

[threeseed]

If you haven't quit your job and aren't working on full-time don't apply to YC.

The partners have said on many occasions it's a major red flag for them.

[dgfitz]

So it is like a “by rich people, for rich people (or a rich safety net)” deal?