Y Combinator

“I think the Y Combinator unicorn hit rate is six percent, right? So every hundred companies that come out of YC, which costs only about ten million dollars to seed. Right? Six of them become worth a billion dollars or more, and obviously some become worth much…”

“Our results in that come out very soon. I just, it was a five-year study that wrapped up or started five years ago.”

“Y Combinator does circle the wagons. They do bully people. And they do put out a presentation that we are the only people in Silicon Valley who are founder friendly, you know, even though they're getting seven percent for a 125 K like we do in our accelerator,…”

“No, I never asked anybody to do that, and a good reason why is I don't want to trouble my founders.”

“As with all things, when you're successful and you try to scale, returns decay. And this is not a slight on YC's returns, but it's what happens to everybody. So if you look at Blackstone's returns, they were incredible when they started, then they're Ok today.…”

“Out of the 50 companies featured, only three are from the classes after 20 20, most of them being from the early 20 10 tens.”

“Our philosophy is that I don't want to see all of the power concentrated in a small number of large organizations. I think that's bad for everyone. It's bad for freedom.”

“And so actually a lot of people don't know, we started OpenAI at Y Combinator 10 years ago in 2015.”