YC
The CEO Who Pays Employees to De-Locate From the Bay
@ Y Combinator
08/19/17
Takeaways
WF
Wade Foster
08/19/17
@ Y Combinator
If you're in the Bay Area and take a job with Zapier, we'll pay $10,000 to help you relocate anywhere.
WF
Wade Foster
08/19/17
@ Y Combinator
The idea for the relocation package came from an engineer who noticed that many candidates wanted to leave the Bay Area due to high housing costs or personal reasons.
WF
Wade Foster
08/19/17
@ Y Combinator
Since introducing the relocation package, we've seen a 30% increase in applicants to Zapier, with many coming from outside the Bay Area.
WF
Wade Foster
08/19/17
@ Y Combinator
We have hired about 15 new employees since launching the relocation package, with only one coming from the Bay Area.
WF
Wade Foster
08/19/17
@ Y Combinator
The beauty of remote work is that you can live where you want, whether it's for family, friends, or personal interests.
WF
Wade Foster
08/19/17
@ Y Combinator
We conduct in-person onboarding for new hires, allowing them to spend a week with us in the Bay Area to build relationships and understand the company culture.
WF
Wade Foster
08/19/17
@ Y Combinator
Starting as a remote company helped us develop cultural habits that make remote work successful, such as effective communication and documentation.
WF
Wade Foster
08/19/17
@ Y Combinator
We believe in promoting from within, but as we grow, we sometimes need to hire external managers, which presents new challenges.
WF
Wade Foster
08/19/17
@ Y Combinator
The primary reason we did Y Combinator was to connect with the tech ecosystem, not just for the capital.
WF
Wade Foster
08/19/17
@ Y Combinator
We view fundraising as a tool rather than an identity; if you don't need it, there's no reason to take on dilution.
WF
Wade Foster
08/19/17
@ Y Combinator
Successful companies can exist outside the Bay Area, and you shouldn't feel pressured to be in a specific location to succeed. If you focus on creating good products, ensuring customer satisfaction, working hard, and getting a bit lucky, you're likely to achieve some level of success.
WF
Wade Foster
08/19/17
@ Y Combinator
Many companies may find more success in the Bay Area due to unique factors, but generally, the fundamentals of good products and happy customers are what lead to success.
WF
Wade Foster
08/19/17
@ Y Combinator
The media often perpetuates the myth that the best companies are located in Silicon Valley, primarily because they cover venture-backed companies more frequently.
WF
Wade Foster
08/19/17
@ Y Combinator
As a founder, it's crucial to discern between good advice and myths perpetuated by the media, especially when you're new to the startup scene.
WF
Wade Foster
08/19/17
@ Y Combinator
Building relationships with partners and founders is essential, especially in the early stages of a startup, as it can lead to valuable opportunities.
WF
Wade Foster
08/19/17
@ Y Combinator
Understanding your competitive advantages and locking them in is vital for success; for us, having the most integrations creates a significant competitive moat.
WF
Wade Foster
08/19/17
@ Y Combinator
To expand into enterprise companies, we need to address their specific needs while ensuring our core product remains effective for them.
WF
Wade Foster
08/19/17
@ Y Combinator
The freemium business model allows users to self-serve and become champions for your product within their organizations, facilitating easier adoption.
WF
Wade Foster
08/19/17
@ Y Combinator
Entering enterprise markets can be challenging due to bureaucracy and the need to navigate complex purchasing processes.
WF
Wade Foster
08/19/17
@ Y Combinator
When scaling a company in a smaller city, the biggest challenge is often finding enough local talent to support growth.
WF
Wade Foster
08/19/17
@ Y Combinator
It's important to invest in your team and create an environment where they can succeed, as they will be the ones driving the company's success.
WF
Wade Foster
08/19/17
@ Y Combinator
Maintaining high employee retention requires regular check-ins and fostering strong relationships between managers and team members.
WF
Wade Foster
08/19/17
@ Y Combinator
Encouraging informal interactions among employees, such as through random pairings for conversations, helps build camaraderie in a remote work environment.
WF
Wade Foster
08/19/17
@ Y Combinator
Learning quickly and deeply about a topic is essential; focusing on incremental improvements rather than perfection can accelerate your growth.
WF
Wade Foster
08/19/17
@ Y Combinator
In racquetball, as in startups, finding a mentor who has experience can help you navigate challenges and avoid pitfalls.