YCombinator startup application form

I came across this very cool and simple set of criteria or rules to apply for funding from YCombinator. Not sure how well it works for them but they are quite reasonable. Here's a sample:

"(4) Yes decisions will include the amount we'll invest and the percent of the company we'd want for it. We usually invest $5000 + $5000n, where n is the number of participating founders (i.e. 2 founders get $15,000, 3 get $20,000), in return for between 1% and 10% of the company. The median is 6%."

Cool. Does it work?

Comments

[Jered]

Yowza! You get $20k, but have to move to California? That's barely break-even in exchange for 6% of your company. Sounds like good business -- for the Y-Combinator guys.

Hey, Pito, you still haven't answered my question about the "sponsored post"...

[Pito Salas]

Hey Jered, Re the sponsored post? Sure I thought I did, just when you asked it: http://www.salas.com/2007/07/02/sponsored-all-about-label-printers/#comments

[Jered]

So you did! My apologies.

Dumb question; is there any way to get email on responses to comments or, given that WordPress doesn't seem to do threading, all new comments onlyon a thread I have commented upon? Otherwise, I either have to be obsessive (which I am, just not here) and check all stories repeatedly, or subscribe to all comments (augh!), or there's really not much of a "conversation" (which might also be the idea).