How Julian Invested in YC

Carolyn: Julian gave us $10,000 and in return did all our legal work. He was a business guy, but cool. And a lawyer. So he could do this magical thing of incorporating us. Carolyn: It seemed astonishing to us that Julian could just like file some papers and we were a company. In exchange for his 10k, you got 10% of the company. That's how we knew that YC's deal was like that it was needed.