📶 Seibel steps back at YC

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Good morning 👋

For the first time in as long as I can remember, I might not fill out a bracket for March Madness. I’m unprepared and have watched ZERO college basketball this year.

So I have a decision to make: dedicate the next three days to getting up-to-speed or fill out a random bracket without knowing anything about the teams I pick. I’m leaning towards the latter.

Switching gears.

Let’s get into this week’s piece.

TL;DR:

• 📰 News

• 🔗 Links

• 🐥 Tweet

• 📌 Jobs

• ⭐️ Recs

• 🗳 Poll

• ☕️ Memes

NEWS
Seibel steps back 🚶‍♂️

Michael Seibel announced on Friday that he is stepping back from his role as Managing Director and CEO at YC, and he will transition to a partner role.

Why it matters: 

Garry Tan took over the reins as CEO ~a year ago, so this news doesn’t come as a huge surprise.

If you look back at Seibel’s time at YC, here are a few highlights of his tenure:

• Transformed the program to entirely remote during COVID. Most other accelerators followed suit and now have options to participate remotely or in-person.

• Built Work at a Startup as a hiring platform. exclusively for YC startups. This has become a huge competitive advantage for YC, and nearly every fund / accelerator has tried to build the same thing.

• Built a YC Deals database featuring over $1m of free credits and discounts per YC startup. This has created millions in equity value as it allows YC companies to trade software subscriptions with one another rather than go out to the market.

• Created an investor directory with reviews on thousands of firms. Another differentiator that forces VCs to play nice or get ghosted by YC founders.

What happens next: 

Seibel will still remain involved with the business, and most of his time now will go towards mentoring startups rather than dealing with operations.

Any time there is a leadership change like this, you can expect some type of shakeup or strategy shift, and Garry has not been shy about already doing this.

We’ll continue to monitor this as we tune in for their demo day next month.

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LINKS

📶 The Rise of Investment Tech: How AI copilots are changing funds

👉 A better way to raise your fund: A guide to raising your fund in public

™️ On VC Branding: Brand breakdowns and why brand matters

🕊 How to (actually) be helpful: How investors can deliver on their “value add”

📈 Growth Levers Library: 55 ways that creators grow their audience

🎧 Best podcast episodes: Crowdsourced by Alex Leiberman

➡️ Latest deal flow report: The best software I use for lead generations, AI for sales teams, and a CPG company that benefits as more people give up drinking

TWEET

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JOBS
Finding your next role in venture 📌

P.S. 👉 If you’re hiring (or plan to hire) investors … 

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Let us know what roles you’re hiring for, and we’ll follow up if we can help you.

RECS

MEMES

Let us know if you have a better meme.

Thanks for reading this far and giving us a little bit of your attention this week.

Feel free to unsubscribe whenever this stops becoming valuable to you.

- Clay

P.S. Here are the results from our poll question in last week’s piece:

What would you define as a GREAT revenue / employee figure for a venture-backed business at IPO?

🟨🟨🟨🟨⬜️⬜️ $250,000 - $1,000,000 (14)

🟨🟨⬜️⬜️⬜️⬜️ $1,000,000 - $2,500,000 (8)

🟩🟩🟩🟩🟩🟩 $2,500,000 - $5,000,000 (19)

🟨🟨🟨⬜️⬜️⬜️ $5,000,000 or more (12)

53 Votes