Latest news with #GarryTan
Time of India
11-07-2025
- Business
- Time of India
Y Combinator CEO Garry Tan warns engineering and business college students: This mindset may land you in jail
Garry Tan , CEO of startup accelerator Y Combinator , has issued a stark warning to engineering and business students: adopting a 'fake it till you make it' mindset. Tan emphasised that that such a mindset, if taken too far, can lead to severe legal repercussions, including jail time. Tired of too many ads? go ad free now Speaking at Y Combinator's AI Startup School during a live recording of the Lightcone Podcast, Tan criticised some academic entrepreneurship programs that promote deceptive practices. 'We're very worried about them because what we're coming to understand is they are teaching you to lie,' he said. 'That's a waste of time — and you're gonna go to jail.' Y Combinator CEO Garry Tan's warring for engineering and business college students Tan directly criticized unnamed university entrepreneurship courses , suggesting they might be fostering an environment where students feel encouraged to bend the truth in their pursuit of startup success. He emphasised that while ambition and innovation are important, they must be grounded in honesty and integrity. Tan referenced disgraced tech founders Sam Bankman-Fried (FTX) and Elizabeth Holmes (Theranos), both convicted for fraud and sentenced to lengthy prison terms. He warned the students that who follow the same path of exaggerating traction, misleading investors, or fabricating product capabilities they have the risk of ending in jail. 'They don't represent us!' Tan declared, distancing Y Combinator's ethos from the high-profile scandals that have tarnished Silicon Valley's reputation. Tan and his colleagues argued that many college entrepreneurship courses offer a 'cheap facsimile' of real startup life. Jared Friedman, YC's managing director, said these programs often teach rigid formulas and encourage hype over substance. 'Anytime you try to bottle up entrepreneurship and teach it as a college course, what you end up with is a method, not a company,' he said. Tired of too many ads? go ad free now They also criticized institutions for restricting access to AI tools like Cursor, an AI-powered code editor, which they believe are essential for modern startup development. Tan has also asked the budding entrepreneurs to go for transparency, build real products, and avoid shortcuts. 'Software is the most empowering thing in the world. Why do you have to lie?' he asked. His message: success should be earned through innovation and integrity, not illusion.
Yahoo
09-07-2025
- Business
- Yahoo
Y Combinator CEO Garry Tan warns students that a 'fake it till you make it' business mindset could land you in jail
Y Combinator CEO Garry Tan said that some college entrepreneurship programs were "teaching you to lie." Tan, who runs a startup incubator, said the "fake it till you make it" attitude wasn't necessary, and warned it can backfire. Tan said that students were learning to "become more SBFs and Theronoses," giving tech a bad reputation. Garry Tan says too many business students today are being taught to fudge the truth — and warns that going down that road could lead to serious consequences, like jail time. Speaking to an audience of undergraduate, graduate, and Ph.D. students during a live recording of Y Combinator's Lightcone Podcast, Tan criticized unnamed academic entrepreneurship programs that he claimed teach a "fake it till you make it" attitude. "I'm very worried about them because what we're coming to understand is they are teaching you to lie," Tan told the audience at Y Combinator's AI Startup School conference. "Software is the most empowering thing in the world. Why do you have to lie?" Tan runs Y Combinator, astartup accelerator that pulls from a similar talent pool and has produced breakout successes like Airbnb and Doordash. After a competitive application process, YC promises mentorship, investor connections, and a $125,000 seed and $375,000 SAFE note in exchange for a 7% equity stake in startups selected for the program. Jared Friedman, YC's managing director of software and former cofounder of Scribd, said that academic programs suffer because they aren't run by founders. "Anytime you try to bottle up entrepreneurship and teach it as a college course, what you end up with is basically a cheap facsimile," Friedman says. "They teach you to follow a particular method or a particular practice and that's just not what startups are actually like." Tan said that these programs were teaching students to "fake it till you make it" and "lie to investors." He also warned that such ideas could lead students to become founders like FTX's Sam Bankman-Fried, who was sentenced to 25 years in prison, and Theranos' Elizabeth Holmes, who was sentenced to over 11 years in prison. "That's a waste of time, and you're going to go to jail," Tan said. He spoke against how Bankman-Fried, Holmes, and other "fake" founders grew to represent the tech industry, chanting, "They don't represent us!" to applause from the audience. Earlier in the conversation, Tan and his YC colleagues also said the unnamed academic entrepreneurship programs don't promote AI use. Diana Hu, YC group partner and former cofounder of Escher Reality, asked which students in the audience were allowed to use Cursor, an AI code editor. When limited hands were raised, Hu said, "This is the future." "They're quite literally prohibiting the students from learning the tools that they are going to need," Friedman said. Read the original article on Business Insider
Hindustan Times
06-07-2025
- Business
- Hindustan Times
Y Combinator CEO lashes out at ‘anti-YC bullsh*t' after fake rejection letter goes viral
The CEO of Y Combinator has lashed out at haters after a fake rejection letter, attributed to the startup accelerator, went viral on social media. Garry Tan called the fake rejection letter a 'sad attempt' at seeking attention while drawing attention to a larger trend of hate against Y Combinator. Garry Tan, CEO of Y Combinator, slammed a fake rejection letter that went viral online.(Instagram/garrytan) Y Combinator (YC) is a startup accelerator based in Silicon Valley that helps early-stage startups grow by providing funding, mentorship and networking opportunities. The accelerator is famously selective, choosing startups through a rigorous application and interview process What did the fake letter say? On July 5, an X user named Maze shared what he claimed was a rejection letter he received from Y Combinator. It later turned out to be a forgery, but it managed to fool tens of thousands of viewers before Tan's clarification. Maze claimed that his startup OpenCut had been rejected by Y Combinator for using only lowercase letters in the application. 'Hi Maze, Thanks for applying to Y Combinator. After reviewing your application, we've decided not to move forward,' read the realistic-looking rejection letter. 'One recurring piece of internal feedback: the decision to format the entire application in lowercase made it difficult to evaluate. While unconventional formatting isn't disqualifying on its own, it signals a lack of attention to detail and clarity - both of which matter to us,' the letter continued. 'We understand stylistic choices, but in a high-signal, high-noise environment, presentation is part of communication. Yours detracted from the content.' The letter was signed 'YC Admissions Team'. Y Combinator CEO's clarification Garry Tan, CEO of Y Combinator, dismissed it as a 'sh*tpost' while he requested social media to stop with anti-YC hate. 'This is a sh*tpost and a craven and sad attempt at attention, FYI. We don't have an 'admissions team' anymore, we stopped using that term more than a year ago,' Tan posted on X, sharing the letter. 'The amount of anti-YC bullsh*t that is going on in the community is off the charts. Please stop,' he added. How the internet reacted While many were amused by the fake rejection letter, some said it was worth looking into why Y Combinator is becoming fodder for jokes and memes. 'You can get mad, but it's also an opportunity to reflect on why YC's admission process became a source of parody,' posted Dan Bochman. To this, Tan replied, 'We're trying to add more partners and grow it so we can fund more companies.' 'I say this as someone who has never applied to YC and therefore has no bitterness or anything, but maybe there is need for some self reflection. Stuff like stealing open source projects, YC companies being fooled by scam artist, the fact that 'demo day' no longer includes demo,' another X user pointed out.
Associated Press
02-07-2025
- Business
- Associated Press
Entrepreneur and Angel Investor Kulveer Taggar Launches Phosphor Capital, Focused on Early-Stage Companies That Have Participated in Y Combinator
SAN FRANCISCO, July 02, 2025 (GLOBE NEWSWIRE) -- Well-known entrepreneur and angel investor Kulveer Taggar has launched a new investment firm, Phosphor Capital, focused on investing in early-stage companies that have participated in Y Combinator. To date, Phosphor Capital has raised and invested $34M. Portfolio companies include Reducto, Delve, Circleback and Gumloop. Phosphor Capital limited partners include a well-known, top tier asset manager with over $10B in Assets Under Management (AUM), several family offices, and well-known Bay Area accredited investors. 'Early-stage venture only works when investors move at founder speed,' said Garry Tan, President & CEO of Y Combinator. 'Kulveer proved he can sprint; Phosphor Capital will let more YC teams tap that momentum, and I expect LPs will be thrilled with the outcomes.' Taggar has participated in YC twice as a founder - in 2007 with Auctomatic (co-founded with Harj Taggar, Patrick Collison and John Collison and acquired by Live Current Media) and in 2011 with Zeus Living (acquired by Blueground). He has an eye for talent, and has maintained close relationships with many YC partners from his 18 years as an entrepreneur and investor in the YC community. Taggar founded Phosphor Capital in early 2024 after selling Zeus Living to Blueground. He decided to focus the fund's investments on YC companies to best leverage his network and because he believes CEO Garry Tan is taking YC in exciting new directions. As an angel, Taggar wrote 200+ checks in the last 12 months and received a YC Rating of 'Best' from dozens of partners and founders. Taggar is known for his deep relationships within the YC community, and for all the research he does while investing. He endeavors to personally meet at least half of the founders in each YC batch, and to invest in the top 15-20 percent of companies in each batch. 'Over time, it's been shown that 6.5 percent of YC companies become unicorns,' says Taggar. 'That's one in 15. It's a fertile ecosystem for an investor like me who knows the Y Combinator world well.' Early Phosphor Capital seed companies are now moving on to Series A rounds at far higher valuations. One is Reducto, which just announced a $24.5M Series A. Reducto co-founder and CEO Adit Abraham said, 'We're lucky to have Kulveer on board. He helped us win a key early customer a month after investing, helped re-calibrate our hiring efforts at an important inflection point, and as a former founder, is someone I feel comfortable having truly important conversations with. We feel like we can ask him anything.' 'If you could have one angel, get Kulveer,' said Karun Kaushik, CEO of Delve. 'He's closed pivotal early hires that were on the fence, took hours to talk through difficult situations, and game-planned our fundraising strategy. Communicating with him feels like getting advice from an experienced founder friend, not an investor. Kulveer's always in your corner and fighting for you - even on Sunday night calls. He genuinely cares. I couldn't speak more highly of him.' Phosphor Capital currently has 225 portfolio companies that have raised, in total, $720M. Twenty five of the portfolio companies hit a run rate of $1M in ARR in less than 12 months. 'I've been to every YC demo day since 2007 and have seen the generational companies at their earliest stages,' said Taggar. 'I've also lived every founder extreme: pivot hell, blitzscaling, cofounder turnover, board pressure. I now channel those scars into an unfair edge for the next wave of YC founders. Phosphor's mission is simple: help YC founders sustain their brilliance for the decade it takes to build something truly great.' About Phosphor Capital Founded and led by YC alum and serial entrepreneur Kulveer Taggar, Phosphor Capital is focused on investing in early-stage companies that have participated in Y Combinator. Taggar is a 2x YC founder who invested in companies like Mux, Boom and Plenful as an angel prior to launching his own fund. Phosphor Capital has raised and invested $34M to date, fully invested in YC startups including Reducto, Delve, Circleback and Gumloop. Taggar is known as a founder-friendly investor who provides a lot of guidance for startups, both tactical and strategic. He's passionate about ensuring founders make the right early hires and don't burn out. Learn more at Media contact: Michelle Faulkner Big Swing [email protected] 617-510-6998 A photo accompanying this announcement is available at
Hindustan Times
21-06-2025
- Health
- Hindustan Times
Singapore Airlines sued for allegedly serving Shrimp to a business-class US passenger: Report
A New York-based paediatrician has taken legal action against Singapore Airlines (SIA) after she allegedly suffered a severe allergic reaction mid-air, claiming the crew served her a shrimp-laced meal despite being informed of her allergy, reported CNA, a Singapore based news publication. Singapore Airlines faces law-suit for allegedly serving shrimp meal to a passenger. (Pixabay) Also Read - 'Don't do this': Y Combinator CEO Garry Tan slams LinkedIn user flexing AI mega event as work experience In a lawsuit filed in the United States, Dr Doreen Benary said she had clearly communicated her shrimp allergy to one or more crew members upon boarding her business class seat on a flight from Frankfurt to New York (JFK) on October 8, 2024. However, court documents, accessed by the publication alleged that the crew still served her a meal that contained shrimp, a mistake that nearly turned fatal. Doctor undergoes treatment in Paris Unaware of the contents, Dr Benary consumed a portion of the meal. She reportedly realised something was wrong only after she began to feel unwell and detected the presence of shrimp. According to the lawsuit, when she raised the alarm, a flight attendant allegedly admitted the error and offered an apology. But by then, the damage was done. The report further said that the allergic reaction was so severe that the aircraft had to make an emergency diversion to Paris, where Dr Benary was rushed to hospital by ambulance. She underwent urgent treatment at two separate medical facilities, the documents state. Also Read - Japan PM's wife leads International Yoga Day celebrations in Tokyo with over 2,000 participants Describing the ordeal, Dr Benary said she endured 'great pain, agony, and mental anguish', and was forced to go through 'painful, emergency medical procedures,' all because of what she alleges was gross negligence by the airline crew. The lawsuit, which brings renewed attention to how airlines handle passengers with severe food allergies, comes at a time when global carriers are under increasing scrutiny for in-flight safety protocols, especially concerning dietary restrictions and medical preparedness. Singapore Airlines has yet to publicly comment on the matter.
