A new type of Y Combinator

There should be a new type of Y Combinator. Not one that has as many constraints. I’ve observed issues of scale in other industries such as dating where the matchmaker is the bottleneck. In education, mentors are the bottleneck. In investing, the partners are the bottleneck.

Here are a few things that could be improved:

1. Everything is remote. Office hours are done over Google Hangout, the initial investment is all done using software where the bank accounts, incorporation, and paperwork are all taken care of.
2. Cohorts are rolling. No application periods. You let people apply to cohorts on a weekly basis and they start as soon as they’re accepted.
3. Partners are decoupled. You don’t get assigned to a partner. You can book time with anyone and you know exactly what they specialize in, so there are no wasted meetings.
4. Decisions made in 48 hours. None of this waiting for several months just to find out if you get an interview. No flying in, you do it over Google Hangout.
5. Demo days all over the world. The proliferation of AngelList is moving us towards decentralized investing. Demo days would be expanded out to metro hubs: LA, SF, NYC, etc. Kickstarter operates well and it’s run entirely online.
6. Founders focus exclusively on the startup. Investors care primarily about traction and who else is investing, so these decisions can be made remotely. This frees up the founders to stay focused on the startup.