Tuesday, May 31, 2011

Ideas are now worth $150K

Every Y Combinator startup is now being offered a $150K convertible note by the Start Fund. Admittance to Y Combinator is based solely on the idea and an in-person interview according the to application.

It took the commercial software industry 35+ years to figure it out, but I'm glad to see somebody FINALLY gets it. Profitable ideas - the only ones that matter - are difficult to come up with and do have significant value. See my previous post