As a solo founder, is it worth the time to apply if I don't already have a finished product and significant traction?
P.S. I know many people would suggest to find a cofounder, but that hasn't worked well for me. In my area there aren't many experienced programmers with an entrepreneurial spirit. The few people I have tried to start something with usually fall through due to not being able to keep up. I'd rather stop wasting my time with the hunt and start just building something by myself.
The process of applying is valuable in and of itself. It will force you to clearly communicate your idea and what potential it truly has. You'll likely refine your idea alone through the application process. Don't plan for the downside, rather, "act as if" and churn out the best possible application.
My favorite way of looking at it is via the advice given here[1]: you need to be outstanding in at least one of the following: the idea, team, or traction. As a solo founder with no traction, it is therefore reasonable to conclude that you would have to have a remarkable idea.
And also fewer partners reviewing applications. He was turned down for a previous batch because he applied with a bad idea (SAT test prep), not because he was a single founder. If we would now pass on DropBox, something has gone very wrong. I can't believe I have to argue this point...
With all due respect, the reason you might have to argue the point is probably because even back in 2007 the application page said:
The people in your group are what matter most to us. [...] Your idea is important too, but mainly as evidence that you can have good ideas
And Drew was passed up because his idea was bad (not given a "we like you more than your idea" option). It seems like a skating to where the puck is and not where it's going kind of thing.
YC probably won't miss out on a DropBox that looks like a DropBox, but you might miss out on a Drew Houston that eventually creates a DropBox.
Certainly my impression of everything that pg has said is that solo founders have the odds stacked heavily against them when it comes to YC acceptance. I'm surprised that you're surprised that's what we all believe.
Everyone has the odds stacked against them. Successful founders are by definition outliers. If we didn't accept solo founders, we wouldn't bother having them apply.
My group was rejected last time (I'm assuming) because the founders hadn't physically met and because of a lack of prototype.
Now the founders have met (the group of founders has actually received an addition of an elec. eng) but we still don't have a prototype. Hopefully it works out this time around.
Apply and show them how you will make things work out no matter what. Also, the idea shouldn't be a 'barbershop' idea like PG says. It should have a large TAM. I think that is all that really matters.
Yes, it's worth the time and effort. I was a solo founder and was invited for an interview. Regardless of outcome, the process is a healthy step forward.
My response to you would be "Why not?" "What do you have to lose?" "You never know until you try". The fact that they have accepted solo founders should be a reason in of itself to apply because there's a chance and I don't know about you but as a solo founder myself that chance is completely worth it. Even without acceptance there is so much to be learned from this process. Just filling out the application itself gets you thinking about aspects of your idea and/or startup that you didn't really consider or think of before.
I agree. in the early stage you have nothing to loose. You need to try everything that has the possibility to help your business! Also with every thing like Ycomb and others each time you put your product forward you are refining your pitch.
I'd think so. Most companies that apply have neither a finished product or traction, and the application might just help you clear things up in your head.
Filling out the application probably won't hurt, but I'm more curious if there is any chance of actually getting in. I'm not a stanford grad or an ex-googler so I would assume that combined with the fact that I'm solo founder would make my chances more or less 0. The only way I could see actually getting into YC at this point with my situation is to have an already successful company.
Try it. You don't need to be an ex-googler or Stanford grad to be good at what you do. Be passionate, and convey your expertise and skills or lack of, in the application. Keep on working on your startup, although getting into YC would be helpful it does not come with instant success.
If you want advice or someone to read over your application, I'd love to. My email is in my HN profile.
I tend to think that if your general attitude is to not even take the time to try, and instead keep focusing on the potential for failure, then no... it is probably not worth your time.
Or phrased in a more well-known way... whether you think you can, or think you cannot, you are correct.
"Solo founders usually fail because they are bad at convincing anyone of anything. Artificially adding a co-founder will not change that critical personality trait: are you charismatic enough to lead?"
While having a co-founder might indicate you have trouble convincing people of things, or that you have no desire to do so, it's also the case that having a co-founder is no indication at all that you do have the ability to persuade.
I'd be willing to bet more co-founders than not are the people who happened to be close by and were the path of least resistance for each of them to move forward. Entirely possible there was no convincing, leadership, nor charisma involved.
I think YC would expect you to be a bit more earnest in your efforts to find a cofounder, e.g. move somewhere with higher concentration of talent and ambition. Solo founders are seen as risky to fund by YC, so what could you do to mitigate that risk? Finish something, and show traction.
Just apply, spend 30 mins, and get done with it. And then get back to whatever you were doing. Don't stress over application or forming an ideal team. This will just happen over time as a by-product.
P.S. I know many people would suggest to find a cofounder, but that hasn't worked well for me. In my area there aren't many experienced programmers with an entrepreneurial spirit. The few people I have tried to start something with usually fall through due to not being able to keep up. I'd rather stop wasting my time with the hunt and start just building something by myself.