Will definitely proceed because I believe in my idea. I just need to make enough time to work on it, which means finding funding so I can do it full-time...
It was a very nice rejection letter, though. And, I'm consoled by the fact that they at least looked at the website - at least there was access from a Bay Area IP...
"3) Do you have young kids? Spend your time with kids, not in a startup. You'll be glad you did later on. No matter how much money you make, you won't be able to buy back time!"
This is one of my main reasons for starting a startup - I want to be able to spend more time with my kids. At my current job, I get maybe an hour and a half to spend with them each night after coming home from work, before they have to go to bed.
Starting my own company and getting it to the point where it's profitable will allow me to spend the time I need with my kids. I'll be able to work from home, doing hours that are necessary to keep the company going. My kids and wife will see more of me, and we'll all be happier. :)
Considering that what the partners do is the most valuable aspect of YC, I don't see this scaling without adding more partners. This begs the question of what YC is: is it a company that forms more companies, or is it an angel-firm that creates more angel-firms?
The latter can work only by forming these new angel-firms in different startup-beds. There are only a limited number of startup-beds, and a limited number of connections that can be used by partners. When these resources are used up, the only choice is to move to another area and start again.
The former is what YC already does, within the limits of the partners. Adding new partners could increase the number of companies funded each year, but only to a limited extent. Finding a partner is hard because it needs to be someone that won't disturb the current dynamic and who will bring in new connections/resources that aren't currently represented.
Frankly, I don't see any way to truly scale what YC does. Encouraging startups to form is limited by its very nature to within bounds formed by the market. These bounds have not yet been reached, but still exist.
The last line of the article, "If you start with nothing, youre forced to think about everything.", really sums-up for me one of the real benefits of a startup: you can start from scratch. There are no legacy systems to integrate, no "historical awkwardness" (well, it's that way because it's always been that way...), and no politics. You get a blank slate with a startup - every aspect can be thought about and done right (for all values of "right" that are valid at the moment the thinking is done). Time to innovate...
It's a strain on personal/family life, but I firmly believe that starting a startup now is the best time for me to do so. I've been in the work world long enough to realize what I don't like, what I'm sick of, and what kinds of things people in my position are looking for.
There's also something to be said for the support that a spouse can give you, and for the energy that children impart just by being around you. Yeah, I have my bad days, but all in all, I think that this is the time.
Focus is the main thing that limited resources will impart to you. My two most limited resources at the moment are time and money. Since I don't have much of each, and can't afford to fail, I am that much more focused on what I need to be doing.
It seems like a good move on the surface. Digging a little deeper, though, one notices a couple of quotes:
"But he compares what he and Fake are doing to what record label executives do, searching out the best talent."
Someone who compares himself favorably to a record label executive in today's world is out of touch with how the target demographic for Brickhouse products feels about such things. I don't know how much trust I could place in Horowitz's decisions regarding this new internal "startup".
"Horowitz...said the figure would be somewhere between a pat on the back and an acquisition-size bonus."
If I were a Yahoo employee, I don't think I'd feel too reassured that my hard work would get appropriately recognized. That "pat on a back" may be for an excellent idea, well executed, but unfortunately not able to be capitalized upon within Yahoo's current structure.
It seems to me that the idea of Brickhouse is good, but it may be a case of too little, too late. I don't get the feeling that it will be able to achieve its potential.
Once you get past the "motivational speak", there are some good points that he makes. We truly are conditioned to believe that getting a job is the best way to provide for your family. I grew up in a restaurant, so the principle of working hard for what you earn was instilled in me at an early age. Now, thanks mostly to pg's essays, I realize that the best way to provide is to work smart - start a company, give it your all for a few years, and let it generate income as a return for the wealth I've created.
I get the impression that the success of a startup depends upon how much room is given for "constructive failures". By "room", I mean enough funding and a forgiving market.
I remember reading this in high school, for a book report. It is a great source of inspiration. I'm glad it's now online. Thomas Edison is also one of the historical figures I admire most. (An online biography here: http://www.gutenberg.org/catalog/world/readfile?fk_files=217855 or here: http://www.gutenberg.org/files/820/820-h/820-h.htm)
It looks to be a good resource. I like the "Weekly Summary" as a quick overview of what's been going on at startupping. The wiki seems to be a good resource for specific areas.
Good article and informative comments. They underline my own current concerns - working on a startup while working full-time to support a family... I know chances for success are slim because most would say I'm not "committed". But I have faith in my idea, and I keep working toward my goals. I get discouraged when I see other startups with similar ideas, but that also shows me that I'm on the right track and the market is ripe.
For those based in Switzerland, one resource could be venturelab.ch - I haven't used it myself, but a quick browse of the website leaves me with some mixed feelings. The business-focus of the site seems to underline the sentiment in the article of the anti-startup attitude in Europe. On the other hand, the "success stories" and comments sprinkled throughout the site show that there is some hope. It would be interesting to attend one of their events, just to see if it's all marketing-speak, or if there's actually anything worthwhile to the initiative.
It was a very nice rejection letter, though. And, I'm consoled by the fact that they at least looked at the website - at least there was access from a Bay Area IP...