Y Combinator co-founder Jessica Livingston recounts backing Eddy Lu and Daishin Sugano based on founder grit before their pivot to GOAT.
Opinion
Critics erase Livingston from YC history to maintain diversity narratives
“The people that, that sort of don't want me to be part of the narrative are the ones that think that Y Combinator only invests, it's run by white men, only invests in white men. And gosh, if there was a woman on the founding team making choices of who to fund,…”
Assertion Not checkable as stated
Zenefits orchestrated a paid smear campaign and legal threats against Parker Conrad
“There was a smear campaign. You know, paid for. By someone still at Zenefits. There were legal threats made to force him to sign an, you know, not, sign this doc, sign this legal document that would allow them to have a non-compete in California so that he cou…”
Assertion Not checkable as stated
No founder Livingston strongly opposed at YC became a super success
“There's no one. That I had a strong dislike for that. I sort of said we should not fund them. That has gone on to be a super success.”
Insight
Founders with corporate day jobs consistently abandon startups when obstacles arise
“You have to burn the boat because we found that founders who are still getting a paycheck and health insurance
Once the going got tough they did not quit their job. And you need that deterrent, like you sort of need that desperation. Like I have to make this s…”
Insight
Co-founders lacking personal or professional history are a massive red flag
“It's really scary when two founders get together just to start the startup and don't have any history. That, that massive red flag. Sometimes it works out. Like in the case of Dropbox, Drew and Arash, you know, both went to MIT, but I think they didn't know ea…”
Disclosure
Livingston admits missing red flags in Bitfinex hacker Ilya Lichtenstein
“I definitely don't remember thinking anything, you know, bad about him, you know, or thinking he could be that kind of person. So that definitely, there've been some doozies like that where did not see that one coming.”