YC
How to Apply And Succeed at Y Combinator | Startup School
@ Y Combinator
05/13/23
Takeaways
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Applying to Y Combinator is worth it because it helps you organize and clarify your startup ideas through the application questions, which can lead to valuable insights.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
The application process for Y Combinator is designed to be quick and easy, making the potential benefits outweigh the minimal time investment required to apply.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Creating luck involves putting yourself out there and taking risks; avoiding situations where you might face rejection, like applying to Y Combinator, reduces your chances of getting lucky.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Many applicants believe they are too early to apply to Y Combinator, but history shows that many successful companies pivoted after being accepted, indicating that there is no such thing as being too early.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
It's a misconception that being too far along in your startup's development disqualifies you from applying to Y Combinator; many successful applicants have raised significant funding before joining.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Watching Y Combinator videos is not a substitute for the real experience of being a YC founder, which includes direct access to partners and exclusive insights not shared publicly.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
If someone discourages you from applying to Y Combinator, especially an investor, ask them if they would invest in your startup; their reluctance may reveal their lack of commitment to your success.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Don't let the fear of rejection or past failures prevent you from applying to Y Combinator; applying multiple times can actually be a positive factor in your favor.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Overthinking the decision to apply to Y Combinator can hinder your progress; if you believe it could be a good opportunity, just go for it without excessive deliberation.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Many successful applicants to Y Combinator were not first-time applicants; getting comfortable with taking risks and applying even when you think you might not succeed is crucial for growth. Persistence shows character and can lead to success, so don't be afraid to pursue opportunities even if the odds seem low.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
If you don't want to commit to your startup for a long time, such as only working on it for a summer, then you probably shouldn't apply to Y Combinator.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
If you believe that venture capital isn't a good route for your business, that's a valid reason not to apply to Y Combinator, as it operates within that framework.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
If your business isn't a technology startup and lacks a technical component, it may not align with Y Combinator's focus, making it a good reason not to apply.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
When applying to Y Combinator, you don't need permission or to send a deck; just apply directly on their website.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Make sure to fill out the entire application, including founder biographies, as incomplete applications often indicate a lack of effort.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Pay attention to details like grammar and punctuation in your application, as neglecting these can suggest you aren't serious about applying to Y Combinator.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Follow the detailed instructions provided for the application process, as this demonstrates your attention to detail and is considered in the selection criteria.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Your written answers should be clear and concise; avoid lengthy responses as they do not earn you extra points.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
When reviewing applications, I look for the founders' backgrounds, their idea, the current state of their product, and evidence of customer interest.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Evidence of seriousness in founders can include leaving a job to work full-time on their startup or showing progress in multiple applications.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
I look for something unique or impressive in applications, whether it's the founders, traction, or the idea itself, to help tell a compelling story.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Weak applications often obscure important details, making it difficult for reviewers to understand the startup's concept and progress.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
If your application contains misleading information, it will likely be rejected, as Y Combinator values honesty and good faith.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Extraordinary claims in your application require extraordinary evidence; be prepared to back up any significant assertions you make.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
The quality and quantity of technical talent on the founding team is a major factor in determining whether someone is selected for an interview at Y Combinator. Having at least one technical founder significantly improves your odds of getting into Y Combinator, as teams with technical talent have five times better chances than those without.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Internships at reputable companies like Stripe or Airbnb count as valuable experience when applying to Y Combinator, as they demonstrate technical skills on the founding team.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Y Combinator's application process is designed to be accessible without needing networking or warm introductions; it focuses on evaluating complete strangers who fill out a form on the website.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Beware of individuals claiming they can help you get into Y Combinator; many are scammers looking for equity or money and do not actually provide any real assistance.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
During the Y Combinator interview, expect basic questions that help the interviewers understand your startup; these are not trick questions but rather context-dependent inquiries.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
A common mistake in preparing for the Y Combinator interview is treating it as an adversarial process; the interviewers are there to understand you, not to challenge you.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Successful interviewees at Y Combinator demonstrate mastery of their business, showing they understand their numbers, risks, and have a clear plan for the future.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Being authentic during the Y Combinator interview is crucial; avoid acting like you're in a pitch competition and instead engage in a natural conversation with the interviewers.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
After an unsuccessful interview at Y Combinator, you will receive feedback that can help improve your future applications; addressing this feedback is heavily weighted in your favor.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Applying to Y Combinator is a low time commitment with the potential for significant upside, making it a worthwhile opportunity for aspiring founders.
DC
Dalton Caldwell
05/13/23
@ Y Combinator
Nurturing a mentality of creating luck involves consistently putting yourself out there, which is essential for all aspects of your startup.