Yc

The venture capitalist Chris Dixon told me, “They created the greatest business model of all time. For basically no money”— YC gives each company just a hundred and twenty thousand dollars, to cover expenses—“they get seven per cent of a lot of the best startups in Silicon Valley!”

“If Sam [Altman] smiles, it’s super deliberate,” a former YC founder says. “Sam has smiled uncontrollably only once, when 'PG told him to take over YC.”