How to Get Into Silicon Valley’s $600 Billion Startup School | The Circuit with Emily Chang
Y Combinator is a famous Silicon Valley startup accelerator where Airbnb, Coinbase and Reddit all got their start. This startup school has backed companies now valued at $600 billion. Emily Chang met with Y Combinator CEO and President Garry Tan to discuss his roots as a founder who went through Y Combinator himself, to his return as the accelerator's current CEO. They discuss what it takes to be a great founder, the Silicon Valley Bank crisis, how Mr. Beast schooled Tan on his content creating, and the fate of San Francisco.
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Big thanks to Emily Chang and the team at Bloomberg for having me on The Circuit. Huge honor and super fun to be on.
Is that 80cm softbox? 19:43
Great interview. We're lucky to have you LONG SF/Bay Area Garry.🙌 Cheers to continuing to attract and cultivate the best and the brightest at YC!
Great interview!
Absolutely!@@EhrenGoossens
Great interview! I see a CEO to whom I can share my startup story. Can I buy you a cup of coffee?
My dividend journey began when I realized that two particular expenses in my budget were always going to go up and never go down. The two expenses were taxes and insurance. I realized that the dramatic rise in both will need some added income. So, I started buying shares paying dividends. I can now see that this will be the path I need to take to make sure those two expenses will not overtake my future income.
Off course, but Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
“Angela Lynn Shilling’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I’ve spent so many memorable days at Red Rock Coffee, matter of fact I was opportune to meet with one of Wall Street geniuses in this cafe and it’s been a life changing encounter.
The coffee there is amazing and their open mic night is just awesome. Great place to be!
Truly exquisite!👌🏼Nice place to work, comfy chairs, great atmosphere and overall, amazing service and vibe!
I’d most definitely buy myself a cup of coffee here anytime I’m in California.
@@23rd08 And by life changing you mean what?
Well, she introduced me to trading assets and with her system it’s safe to say I’ve made quite a fortune in the financial trades market. It’s been two years and I know for sure that I’ve found a financial pro I can trust and who can consistently fetch me incomes.
What makes an episode great is a guest's willingness to open up and share themselves with our audience. Garry did that and more, taking us to his favorite coffee shop, the halls of YC and even his house! I'm so grateful to Garry for showing so much of himself -- which means we learned so much about him and his views on the future of startups.
44 mil blacks in USA not 1 black or Latino
@@starloszelson4541 culture of entrepreneurship.
@starloszelson4541 why don't you fund them then?? give them your money if you want
I know Gary, he’s the kindest and nicest person at YC. I interacted with him over 10 years ago on multiple occasions and he loves to help and is very generous and kind. If I ever meet him again I will let him know this.
Gary's comment on huge employee bases used as a competitive moat is 100% spot on and perfectly stated
Could you please explain this to me more better as a curious novice. Thanks
Companies hire a ton of talented people because they have enough cash in the bank and profits to pay them. They do this to prevent them from being hired by their competitors, startups or even prevent them from starting their companies(like some sort of golden handcuffs). At the end of the day, if theres some new tech wave or hype like crypto or AI, they have the manpower to quickly spin up something as well and compete.
Garry Tan has been a role model of mine amongst greats like Jobs, Thiel, Doug Leone etc as a VC and ex founder. But above all, Garry is a role model for what a human should be like. A genuinely great human being, you will never hear a bad story about Garry. His efforts to save SF should not go unnoticed. And don't forget, he makes some of the best youtube content you will ever come across.
Michael Seibel falls into that category as well.
if Thiel is a role model for you, I am afraid what you will do to this world. Thiel is a terrible human.
Love Gary. Humble, down-to-earth leader.
Aw shucks
Thank you
a tech startup derailed my career. so there are pitfalls along the way. I had to leave the bay area, and just being there always gave me motivation. The scenery up and down the coastline is magic too. Crimson sunsets, misty drifting fog, waves of the wild restless sea crashing over rugged rocky shoreline. The amazing restaurants. And the energy of Silicon Valley.
what really happened to your career?
This was unhinged. Thanks for sharing
...the rampant wildfires, the soul crushing traffic jams, the endemic homelessness, the massive wealth inequality, the homes priced similarly to the GDP of a small country....
@@RedShipsofSpainAgainthe Bay area hasn’t had “rampant wildfires” since 2020 😂😂
sorry about that @idontwantahandle325
That was a fantastic interview. Garry Tan is such a humble person.. Garry is a great leader! Thank you for all that you do.
Wow, this video provided such an insightful look into the heart of Silicon Valley's startup scene! As a software engineering student, hearing Gary Tan's journey from being a child of immigrants to leading Y Combinator is truly inspiring. His emphasis on simplicity in decision-making and the importance of diversity in tech resonated with me deeply. It's fascinating to learn about the fast-paced environment of YC's Demo Day and the role it plays in shaping the future of tech. Also, his vision for making San Francisco a hub for immigrant success in the tech industry is incredibly motivating. Can't wait to see how the next generation of startups continues to shape the world!
Just loved how the interviewer asked him the exact questions that hurt without sweet talk!
0:00 Red Rock Coffee is located in Mountain View, California 4:11 Luminary: a person who inspires or influences others, especially one prominent in a particular sphere 10:30 We like people who are earnest, who are solving real problems and can show us the quality of their work 11:13 10,000 hours (to become expert/master at something) 19:40 Get a softbox for a cinematic look (for your videos)
These series are amazing. Thanks for sharing!
Well done team! So informative and inspiring!
That was a fantastic interview. Garry Tan is such a humble person.
8:00 - There are basically no women in tech startups because women participate in both those fields at alarmingly low rates. Yes, women do opt for self-employment at equal rates as men but they tend to engage in entrepreneurship at much lower rates (partially due to aversion to risk) and also they enrol in tech degrees and courses at much lower rates too. fix Entrepreneurship and tech participation amongst women and you are highly likely to get a lot of women in tech startups.
Exactly, idk why she shamed him for it smfh
@@joshuathomas512they want society to hand out last place participation trophies. They want the guy to manually change the ratio of who to invest in, when these guys are picking startups based on the idea not person
Half of the story is that there's much less women in the field, the other half of the story is that women aren't being funded like their male counterparts. A recent study by EU found that 1% of capital was allocated to women, 99% to men. But ~33% of new start ups came from women. When I listen to a Swedish podcast, the founders of Klarna, Spotify, Oneplus etc will never mention any problem at all with getting funded, but every woman will talk about how difficult it was and how they almost didn't make it because of that... 80% of business women in a new study (Sweden) stated they've experienced it's much harder to get access to capital than it is for men... So in a more misogynistic and less equal country like America, in the early 2000s that were even worse for women, in a field that was moving so quickly that not getting access to capital would mean a company wouldn't make it compared to the competition, it was probably not just less women in tech that contributed to lack of successful female founders.
@@zeroheroes4081notice the differentiation between the TOTAL 1:99 ratio vs the NEW 1:3 ratio… Cut out total funding only look at funding allocated within the “new startups” period. Manipulating statistics to fit their agenda, not surprised. You have to understand that funding varies depending on industry. Fintech, MarTech, and foodtech all carry different valuations, resulting in less funding - period. Which industries are the female founders innovating in? It’s much more complex than you’re portraying.
Women are underrepresented because there are not many excelling women in that field. They don't like to risk. It's statement of fact. Instead of forcing to make them happen think about why they're not there in the first place. Stop deluding people with pushy gender political correctness.
Amazing interview. Difficult questions and no fluff.
Great video! Garry Tan's story is super inspiring. Kudos for sharing this gem with us!
So it's his fault that women don't start up tech businesses? I don't see women in construction and don't hear anyone complaining
I love these Bloomberg Originals - and Emily Chang will ALWAYS be my hero - she is fierce, intelligent and amazing content producer but I must say - I miss the liveliness she brought to Bloomberg Technology. Great Content Emily! Cheering you on as a subscriber who waits for your content to drop!
loved this one, thank you
Such a great interview!
Fantastic video, educational, inspirational and full of hope!
Both of you are best in your fields, sooner to be YC grad in next 2 years... Thanks Bloomberg for this video.
I wish i had a big brother like this guy when i was growing up to teach all of this. Such interesting points(sorry for the bad english)
WOW Awesome video . Thanks so much for sharing ✌️
bravo Emily Chang. Strong interviewer who stands ground & can deliver powerful questions with temper. Garry Tan strong interviewee for seamlessly responding to everything; YC is in good hands
Great interview! Great Emily. Hello from Barcelona 😊
Love this interview! Thanks Garry! Love your view and opinions about SF!
Hey Emily, fantastic interview! You always know the right questions to ask your guests. Keep on wowing us with all of the information presented on your shows Emily!😊
I've spent many memorable days at Red Rock Coffee (loved their Open Mic nights too). The photos on the YC wall make me feel old - time flies! Dig the #f60 :)
China's Tsinghua University and Peking University admitted 7,600 students out of 12.91 million applicants, with an acceptance rate of 0.059%. Indian Institutes of Technology (IIT) may share similar statistics. Not saying these students can have real impact on the world but the acceptant rates exceeds Y Combinator's.
Who cares what they are doing in china and India you have mllions of Americans struggling
Even this extreme selection rate didn't curate the best of what exist. Like YC has the best available. You don't understand it's not a school/University YC is a Community of brilliant entrepreneurs
this is amazing interview - one for the ages
great interview 🎉
this was a very balanced interview!
i love YC . i think its the atmosphere of freedom they offer that s the magic
starting the video with a barista and Asian people is the PERFECT way to INTRODUCE anything about Silicone Valley.. now u just need to read the name Nguyen somewhere and it will be wholesome! (if u know u know)
Muchas gracias excelente entrevista desde Perú 🇵🇪❤
Enjoyed watching your enriching content.
8:15 "Something we're continuing to work on". I'm sorry, but how is it YC's problem that not as many women are simply not interested in tech as men are? How does this undeniable basic scientific fact still come as a surprise to people. The reporter is clearly aware of this. Yet you have to call it out to appease BlackRock. Why? Garry is visibly uncomfortable with the question. It's so dumb.
I'm curious, how is it appeasing BlackRock?
Also thank you Gary for all the insight and sharing your experiences and thoughts 💭 , I'm a 38 year old father of 7 kids and people used to tell me I was way passed my prime to build or think about starting a startup, It's been 2 years now since I first saw your content and it has literally just given me enough guts to eventually be like F@ck I'm going to do it anyway and it's been an amazing journey. Listening to your stories and growing up just hit me hard, I know get my kids to create a business of their choices and get them to pitch to me :)
7 kids are quite an achievement. You have won the game of natural selection.
I am a 34-year-old single lady and currently building my tech startup. You are not past any prime. You are in your element. You can even start over at age 65
My father started his company that paid for my education at like 36 or so, but be ready to be told by literaly everybody you will fail.
I went here on a first date. It was a horrible place for a date. The upstairs is mostly a quiet zone. Everyone has their laptops open , headphones on and almost no chitter chatter sounds. I didn’t pick this place. It was my dates idea . We were the only ones talking and I could tell it was annoying people. The whole date turned sour from this experience and I never called her back.
No one else going to talk about his pronunciation for Jeff Beeeezos?
Inspiring!
Great video ❤
Really motivational for each techy
Will go there some day
I have been following the tech-wizard, Gary Tan for sometime now. He is simply one of those people who really care. Lets put some respect on his name.
Emily is so impressive as an interviewer, no note pad or cue cards. How dod you remember all these Qs to ask? Love all your interviews.
great content!
great questions
Gary Tan is an awesome bloke.
2:38 Presumably his father wearing a University of Manitoba hoodie. Garry was born in Winnipeg .
Emily Chang reminds me so much of Esther Choi...
"No single women on this photo" and I just have readed Mantopia, from Emily herself.
Why did Gary look so nervous when asked about women joining in tech? How is this his fault that there are less women applying to YC ? - Wouldve been a great opportunity to say - " Hey, thats a very great question, any women tech founders out there, send us an application" - There was a large push to get women into tech in my bay area highschool - sadly a large majority dropped out to focus on their onlyfans careers
Does this startup school also apply to people starting Venture Capital companies?
YC's push for diversity will sow the seeds of its own demise.
Whenever diversity triumphs over competence just know it's all doomed
cringge
@@Hawklet93 Yes, aiming for diversity over merit is indeed cringe.
excelente, este es un canal fabuloso
when the interviewer ask, what you are doing to include women, i think the right question should be the other way round, what should women do more to get into YC
That's exactly what I was about to type.
Right, its not his fault why women are not as techie as men.
Will be there soon
Garry is a great leader! Thank you for all that you do
how can we pitch our filipino cafe startup?
Love YC but if women are not applying as much as men thus not big deal, YC should continue to focus on bringing greta ideas to market. No need to force the so called INCLUSIVITY!
Emily, keep up the interviews! Just like your representation.
Good interview, good job Emily
Which is better YC or Harvard's Innovation Lab?
Lol I have tenants who got 500k from Y combinator. They had no company, no sales, no concept nothing. Lmao they still haven't hired a software engineer. The only thing is that they both graduated from Stanford. So If you go to a good school you can get in lmao.
LOL
I was about to say something similar. This is a boys club
@@habibi750 Nobody was talking about gender
Did anyone notice that the companies funded by YC are more design-centric? Airbnb, Stripe, Coinbase.. and the list goes on
She knew it was 10 mins interview to decide whether to invest or not. She had interviewed Paul graham and Jessica Livingston.
You both rock!
Gary is going to be a great CEO.
Yes, i want to meet my cofounder there please. 🙏🏻🙏🏻
This is redrock at El monte!!!
Feeling better after this
8:00 debatable
Gary has always been a🐐🐐
Garry has such charisma. I never watch interviews esp this long.
what a nice dude, legend
Great interview! But I do not understand why it is YCombinators problem that there are no women ?
Áudio em português, que maravilha 😁 Obgdo.
There are female founders that raise loads of capital. For example, Charlie Javice, Elizabeth Holmes...
haha
Thank you for asking that question about women in tech - excellent interview.
watching this feels so visionary
Awesome video! Garry is the best
love Gary Tan the goat. Rags to riches, the epitome of the American Dream, the inspiration for every international entrepreneur in “third world countries” like me.
So basically, have wealthy parents and then go to Stanford. Got it
Gary tan did not have rich parents. He grew up poor. He forgone a job at Plantir despite Peter Thiel courting him for a stable job at Microsoft
@@shzwon123 exception but not the norm for Gary. Y’all gotta stop using a token person that doesn’t coincide with the actual data. The original commentary is not wrong per the data..
Not true. Most startup people and workers in tech have normal distribution of backgrounds, mostly middle class, some poor.
We meet lots of people from all kinds of backgrounds. The ones with non wealthy backgrounds do the best.
@@GarryTan yeah I bet. Very diverse
Interesting. Love it!
funny she asks where are the women....why not ask the women? and what is the ratio of women in tech vs men? you walk into a family daycare with room full of women...do you ask where are the men?
Honesty Ycombinator only has a fraction of applications that are from women founders, just like the rest of tech. Even if Ycombinator accepts 50% of them (which is way higher than men), it’ll still be way less women founders than men. Have you ever walked into a CS lecture and seen more than a couple women? (Even though they have special clubs and networking events exclusively for women just to help them succeed) I’m kinda embarrassed she even asked this question, it’s more of a societal issue
Mentions Twitter and Elon has an AI bot that alerts him whenever twitter is mentioned. Then the bot sends an automated message reminding Gary. It’s X corp sir.
8:57 How many companies have come through these doors?
Fantastic interview
Great job making the whole thing about women /s
They want it all handed to them like they are kids, no capable grown adults
Garry 8s amazing
8:01 - Unbelievable. Why is Emily Chang shaming this fellow for the lack of females in the photos from YC 2009? As if implying there was sexism or gatekeeping in their selection process when WE ALL know there's (or was) a lack of females in STEM fields. So cringe.
agree
I caught that too. And also there is a lot of uncertainty and instability in tech startups. Perhaps, women tend to favor careers with more stability/certainty. Shame on Emily trying to hint sexism.
His perspective enriches our understanding of how strategic guidance, more than just funding, is crucial for transforming innovative ideas into successful enterprises. 🚀
lol, 40K/YR Applications and 400/Y Acceptance Rate 1%ers..Maybe 2...3...4s Pushing It...
hope we can make you proud garry :>
she mentioned no women but ive seen more women in the video than black people
Fair enough, although women are are waaaaaaaaaaay higher percentage of population than African-American. In any event, may every human be thriving, happy and abundant.