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0 pointsandrepd5y ago0 comments

You forgot two factors: capital (which excludes the vast majority of people om earth), and an enormous amount of luck.

0 comments

It's pretty easy for a technology business to get capital these days.

It’s not that easy, even in SV and within my batch at 500 startups (arguably one of the better credentials a startup can have at an early stage) the struggle to raise was real. And then back in the Midwest a lot of startups I’ve advised have had a hell of a time raising.

If you aren’t well connected or hyper credentialed (or if you’re a minority founder), raising capital is very hard. It’s easier than it’s ever been, but it’s not « easy »

rorykoehler5y ago

I don't want that capital though. All it's doing is ossifying the power structures that are the cause of the major problems we are facing. It's a trap.

andrepdOP5y ago

Indeed. Who are these people, why do they get to decide what gets built and what do people labour on? I want democratisation of capital.

closeparen5y ago

Sure, democratize capital. Then it will be decided by a few thousand voters in swing states, with “who are you and why should you get to decide” problems that put VC to shame.

A lot of VC capital is democratized: an elected official appointed a pension fund manager who decided to allocate some funds to a particular VC firm.

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wwweston5y ago

I'm all ears.

closeparen5y ago

Check the footer of the website you’re on right now? The whole thing is content marketing for an offering of capital.

pjc505y ago

But how much capital do you need to get in front of YC in the first place?

It's a genuine question. Who's the poorest YC founder? Least family wealth, least angel/seed investment. Who genuinely managed to get YC funding without putting in any money of their own?

coldtea5y ago

Ah, the "pretty easy" part is "convince some VCs"?

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closeparen5y ago

It's pretty easy for a technology business to get capital these days.

mguerville5y ago

If you aren’t well connected or hyper credentialed (or if you’re a minority founder), raising capital is very hard. It’s easier than it’s ever been, but it’s not « easy »

rorykoehler5y ago

I don't want that capital though. All it's doing is ossifying the power structures that are the cause of the major problems we are facing. It's a trap.

andrepdOP5y ago

Indeed. Who are these people, why do they get to decide what gets built and what do people labour on? I want democratisation of capital.

closeparen5y ago

Sure, democratize capital. Then it will be decided by a few thousand voters in swing states, with “who are you and why should you get to decide” problems that put VC to shame.

A lot of VC capital is democratized: an elected official appointed a pension fund manager who decided to allocate some funds to a particular VC firm.

1 more reply

wwweston5y ago

I'm all ears.

closeparen5y ago

Check the footer of the website you’re on right now? The whole thing is content marketing for an offering of capital.

pjc505y ago

But how much capital do you need to get in front of YC in the first place?

It's a genuine question. Who's the poorest YC founder? Least family wealth, least angel/seed investment. Who genuinely managed to get YC funding without putting in any money of their own?

coldtea5y ago

Ah, the "pretty easy" part is "convince some VCs"?

1 more reply

j / k navigate · click thread line to collapse