> (1) YC is willing to fund just about anything, (2) they’re not doing any real due diligence, and (3) they don't particularly care about their existing portfolio companies.
YC never said they were anything else, though? YC's strategy is simple.
Vet for y intercept, do little due diligence, and make it up through investing in enough people.
They never claim to be perfect. In fact, there's a number of YC founders who have had scandals:
YC never said they were anything else, though? YC's strategy is simple.
Vet for y intercept, do little due diligence, and make it up through investing in enough people.
They never claim to be perfect. In fact, there's a number of YC founders who have had scandals:
- Bitfinex $4.5 B hack was a YC founder
- uBiome (wire fraud) was a YC co: https://news.ycombinator.com/item?id=30899352
- Stablegain ($44M crypto fraud) was a YC co https://news.ycombinator.com/item?id=31461634
- DreamWorld is a YC co: https://news.ycombinator.com/item?id=26898266
I guess hucksters are inevitable?