Truthcoin Talk 2.0

Prediction Markets => Outside Work => Topic started by: zack on September 13, 2014, 04:51:47 PM

Title: should I apply to Y Combinator?
Post by: zack on September 13, 2014, 04:51:47 PM
Paul Graham has been a major inspiration of mine since I was 15.
I am thinking of applying to Y Combinator with truthcoin as the project.
There are supposed to be more founders than just one, but I am not sure who would join me in Mountain View California from January to March.

truthcoin satisfies 8 of the 22 request for startups that they send out http://www.ycombinator.com/rfs/
Title: Re: should I apply to Y Combinator?
Post by: psztorc on September 13, 2014, 06:09:57 PM
Clearly, the answer is yes.
Title: Re: should I apply to Y Combinator?
Post by: ghabs on September 15, 2014, 07:02:22 PM
Important things to consider when applying (which you've probably considered but worth stating)

- Business model: You'd be applying as a startup not as an open source project, so it's important that go-to-market considerations are built in to the application. For instance applying as a startup that would provide services tied to Truthcoin (i.e. the PolitiFact-esque reputation service that arbitrates claims) could be a good approach that leaves flexibility to pivot down the way.
- Equity: Tied to the consideration of business model is how you'd provide equity to investors. I'm skeptical they'd take equity in the form of blockchain coins, as that's difficult from a compliance standpoint.

Inkling Prediction Markets was a YC backed company so they are interested in the potential of PMs, and it would help with a lot of the chicken/egg problems re: adoption. Seems like a great approach!
Title: Re: should I apply to Y Combinator?
Post by: martinBrown on September 23, 2014, 12:52:25 PM
Decentral.ca (http://decentral.ca/) is another accelerator that might be a good fit.

I'd be interested in joining a team.
Title: Re: should I apply to Y Combinator?
Post by: zack on September 23, 2014, 03:36:26 PM
Someone anonymous decided to sponsor me while I work on Truthcoin, so I am no longer interested in applying for money.
I am interested in martinBrown's help. Maybe you could try running the software, and tell me what you can't get to work.