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by pg
4668 days ago
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One reason we didn't worry about this was that Watsi showed us that there is at least a subset of nonprofits whose founders are willing to work for very little early on. Maybe this will even turn out to be a good filter. But whether it does or not, I'm pretty sure there are other Watsis out there. |
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As for-profit founders want to go to YC to earn a lot of money later, non-profit founders will want to go to YC to earn a sufficient amount of money later. Both will be motivated by creating impact.
But I don't think you should take for granted this and an important step in any non-profit validation is if the non-profit will have enough money to pay its leaders and employees. In regular for-profits it's just assumed that, if you raise enoughs funds or sell enough product, the founders will have their share. With non-profits that can be tricky.
Finally, congratulations, I think this is a great decision. I have being noticing the similarities between startups and non-profit challenges and they are pretty much the same. I applied a lot of "customer development" concepts at my last job on a non-profit, and now I am applying a lot of non-profit concepts on my for-profit startups.