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Why Did Garry Tan Call Going Direct the Counterbalance After Reporters Refused to Publish a Proposition?

Garry Tan sent an understanding of an actual proposition to a number of reporters, and the reporters would not publish it. The reporters did not think the proposition was noteworthy. The refusal astonished Garry Tan. Garry Tan says it does not feel like the media environment is designed to support the idea that tech should exist at all. Garry Tan thinks a positive role for tech is so unpopular with certain sets of people in society that the most mainstream business publications are starting to refuse to publish an argument against an asset seizure.

Garry Tan calls going direct on the internet the counterbalance. Garry Tan did not want to break the proposition on X. The conversation goes on the internet with no gatekeeper. Older coverage had to go through media, a mediation of how reality works, and now the same argument goes direct.

Garry Tan will not get everything right and owns the misses. The guarantee to followers is a truthful try, because Garry Tan has to look in the mirror and ask whether the work is right. Meetings with founders, tech people, legislators, and policy people shape the bias. On the show, untrue or not research-informed statements make listeners decide Garry Tan does not know the subject and stop paying attention, and breaking the promise costs credibility. The other risk is audience capture, only communicating things favorable to tech. Garry Tan would never tell people to use one person as the only source of information.

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Transcript

Garry Tan on the Past, Present, and Future of YC ·

The Peel with Turner Novak

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  1. How Did a Summer Internship Experiment Grow Y Combinator?On the show, Garry Tan says the program started as an experiment by Paul Graham and Jessica Livingston to give small amounts of money, almost…
  2. How Did Airbnb Make Y Combinator Write Bigger Checks?On The Peel, Dropbox becoming a billion-dollar startup around 2011 was called one lucky year.
  3. How Did Office Hours Turn Garry Tan Into an Investor?Garry Tan joined YC with no plan to invest. After he raised and quit his startup, he was really burnt out and needed to recuperate.
  4. How Did Coinbase Carry Initialized Fund One?Initialized Fund One was a $7 million fund that returned more than 55x DPI. Most of that return came from Coinbase and Instacart.
  5. What Share of Giant Startups Came From Y Combinator?Garry Tan says Y Combinator is a managed marketplace for the smartest people starting the next companies, and he calls the setup a good thing.
  6. Why Does Surviving Rejection Mark a Y Combinator Founder?Garry Tan says 99% of people who apply to Y Combinator end up getting a mortal ego wound by being rejected.
  7. How Many Y Combinator Applications Get Rejected?On The Peel, Y Combinator gets about 80,000 applications a year. Something like 78,500 of them are mortal wounds, the rejections handed out.
  8. Why Do Two Y Combinator Years Beat Twenty in Venture?Two or three years of YC time as a partner is equivalent to 20 years in venture. The 15 partners are practitioners of product market fit.
  9. Why Did Y Combinator Stretch the Batch to 13 Weeks?Garry Tan says Y Combinator just extended the program to 13 weeks. The team talks to people about how things went and what can be done better.
  10. How Did Bathroom Notes Get Airbnb Funded Early?The weekly growth chart on bathroom Post-it notes is why Airbnb raised from Sequoia before demo day.
  11. Why Did Y Combinator Build Bookface?Bookface is internal software at Y Combinator. On The Peel, Turner Novak had heard about Bookface and asked whether Garry Tan made it. Garry Tan said yes.

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