jaf12duke

Joined 19 years ago

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8,804

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288

Member since

Jul 20

Orange Collective, 42Floors (YC W12), FlightCaster (YC S09)

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Comment · 8 months ago

I may predate you! We were shared an office with Heroku back during their/our YC days.

Fun memory - James and bitscribe helped me with my prior startup. I remember them brainstorming a 'collaborative IDE' while they helped us set up our servers.

You may have been at bitscribe at the time with pedro and morton?

Heroku <[email protected]> Tue, Nov 6, 2007, 1:03 PM to jason

Hello -

You've been invited to the Heroku beta by your friend [email protected].

They included this message: -------------------------------------------------- So we're up and running, and can officially talk about our YC funding now. You are probably outside of our audience, but feel free to kick it around and send me any feedback you have. Going to invite Colin and the Bracy's too.

--------------------------------------------------

Heroku lets you create web applications right in your web browser. Follow the link to activate your account, then create Rails apps instantly:

http://heroku.com/core/invitation/accept/6d1c4cdb60

To learn more about Heroku, check out our public website:

http://heroku.com/

Have fun, and don't hesitate to drop us a line with your comments or questions.

- James, Adam, and Orion

Comment · 10 years ago

You have the dynamic mostly correct, but the motivations reside more at the partner level than the VC firm level. Individual partner IRRs are determined by the mark up they can report for the specific deals on which they have attribution.

When a VC pushes for a faster burn which then necessitates a new VC firm to fund the next round (perhaps prematurely relative to the founder's perspective), it's so that that individual VC can mark up their personal IRR.

Which may be relevant to their firm and the firm's fundraising plans to LPs. But could also be even more relevant if that partner is thinking about changing firms or starting his/her fund own. Individual IRR, based on deals with attribution, is the resume of a VC.

The effect of this is, junior partners push for this type of behavior more than senior partners that are already set with an impressive personal IRR.

Comment · 10 years ago

I've been so impressed by the ambitions of YC since sama took over, as well the team that's been built to support it.

pg's biggest contribution to YC may be finding sama and giving him the reins.

Comment · 11 years ago

This is such good news for YC!

Comment · 11 years ago

Really excited to see this launched! Congrats on shipping Aaron and Jen!