I just finished reading Randall Stross's The Launch Pad: Inside Y Combinator, a great accounting of the origins, growth and successes of the seed accelerator company that helps "budding digital engineers." This blog post is a little bit book review, but mostly highlighting the wisdom that Y Combinator seems to capture and employ in its work helping startups succeed.
I could not help but take in that wisdom and Stross's stories through the lens of my own experiences creating a tech company, and while I felt affirmed in having learned a lot of the things that Y Combinator tries to teach its program participants, I also had plenty of forehead slapping moments about things I wish I'd understood better. I think some of those tidbits are very relevant to what I'll do next, and present day efforts to invigorate the local tech economy here in Richmond, so I'm including some comments on them here too.
If you don't already know about Y Combinator, I encourage you to check out their website, or watch this very recent interview with Paul Graham, who has headed the company's efforts most of this time. The bottom line is that they host a three-month program in Silicon Valley to help startup companies with the money, advice and industry connections they need to go from concept to initial implementation, ready for investors to take them to the next step. As Stross describes, they focus on admitting young groups of founders who are going to bring the hard work and innovation needed for success, even if their initial idea for a startup isn't sound. If you use Dropbox, you're benefitting from a startup incubated at Y Combinator.