My First Million Y Combinator CEO Shares How They Pick Winners, Advice For Founders + Lessons From Paul Graham | Garry Tan Interview
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Oct 28, 2024 
Garry Tan, CEO of Y Combinator and renowned startup accelerator, shares his insights on founding success and the power of spotting extreme winners in the tech landscape. He discusses his early hustle at 14 and turning down a lucrative offer from Peter Thiel. Garry emphasizes the importance of capital-as-a-service and offers crucial advice for AI founders. He also reflects on lessons learned from Paul Graham, underlining the unique sauce that keeps YC ahead of its Silicon Valley counterparts.
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YC's Magic Formula
- YC's success comes from its unique blend of high standards and a welcoming environment.
- This combination creates a sense of family and earnestness, fostering magical results.
Simplicity Wins
- YC's simple approach, like 10-minute interviews and standardized deals, outperforms traditional investors.
- Their success defies the complexity often seen in venture capital.
Outsized Returns
- YC's investment strategy generates significant returns, even for lower-quartile investors.
- Their median return outperforms typical venture capital returns.