Did Sam Altman make YC better or worse? by Connie Loizos

TL;DR - As president of Y Combinator, Sam Altman expanded the accelerator’s reach while maintaining its reputation as a consistent producer of top founders.

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Tags - y combinator, notable investors, accelerators, seed funding

Questions addressed:

  • Who is Sam Altman?
  • How did he change Y Combinator?
  • What is the current structure of YC?
  • What significance does this hold for the larger early stage funding ecosystem?

Summary:

  • Sam Altman, once a member of the first class of Y Combinator startups, recently stepped down as president of YC to focus on his new startup OpenAI.
  • He changed YC by expanding its product offerings, geographic reach, and batch/class sizes.
  • He also continued to solidify YC’s brand and reputation as an accelerator that produces the best founders, attracting even more attention from both entrepreneurs and follow-on investors.
  • YC’s current structure includes two batches of startups per year that receive 3 months of training followed by a “demo day” to investors.
  • YC invests $150,000 in exchange for a 7% stake in each company.

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