It was very context specific, but the critical advice YC gave us:
1. Start a new class monthly, not every 6-12 months, which is why we’re about to start cohort 13 not cohort 2.
2. We wanted to sell future cashflows on the blockchain. They pointed out you don’t need crypto
1. Start a new class monthly, not every 6-12 months, which is why we’re about to start cohort 13 not cohort 2.
2. We wanted to sell future cashflows on the blockchain. They pointed out you don’t need crypto
3. Helped us walk through simple math of how Lambda gets to $100mm/yr revenue (4,000 students/yr making $75k/yr = $25k/student = $100mm run rate at 17% for 2 yrs)
4. Helped us model if/when raising money was smart from a financial standpoint (we didn’t need to raise)
4. Helped us model if/when raising money was smart from a financial standpoint (we didn’t need to raise)
5. Told us to hire when we didn’t want to but desperately needed to (most YC startups are told to avoid hiring until after YC; we were 7 people by demo day)
6. Helped us understand YC’s application flow and process, where and why YC batches break, etc. (Lambda is similar to YC)
6. Helped us understand YC’s application flow and process, where and why YC batches break, etc. (Lambda is similar to YC)
7. Helped us avoid raising more money than we needed or at ridiculously high valuations when we could have done either/both
8. A lot more stuff I can’t talk about yet
8. A lot more stuff I can’t talk about yet
Obviously all the advice is context specific, which is why I don’t agree when people say, “All the info YC can give you is out there.”
Overall the combination of helping you focus on the right things and helping you expand your vision is incredible, and not something I could do
Overall the combination of helping you focus on the right things and helping you expand your vision is incredible, and not something I could do
