Comment by ls-a
1 day ago
> YC often also mentors founders on pivots
Interesting. I once talked to an investor (not YC) and they asked me what I would do if the product failed. I said one thing I can do is pivot. And they literally responded with "we don't invest in founders who think about pivoting"
> YC also needs to pivot it's marketing to compete with a16z Speedrun and PeakXV Surge
Maybe. A write up about the new design would be cool I think
> YC has always been founder first.
Internally yes there is a "founder community". But publicly I would argue it was product-first.
> YC often also mentors founders on pivots
It doesn't seem unlikely to me that YC coined or at least popularized 'the pivot' in the context of changing business / startup directions. The first mention of using the word in that sense is in this comment [1] which explicitly mentions the usage by YC, while it only gets used when talking about pivot tables or more traditional uses of the word before that.
Edit: The "Lean Startup" blog series [2], which was quite influential, mentions 'the pivot' a little earlier than the post above, and really seems to coin it, so I guess that's the source (edit again: wrong :D).
[1] https://www.startuplessonslearned.com/2009/06/pivot-dont-jum...
That's a fun question! 806601 was from Sept 2009. I found 3 earlier cases of 'pivot' in the startup sense:
https://news.ycombinator.com/item?id=537331 - March 2009 (9 comments)
> I said one thing I can do is pivot. And they literally responded with "we don't invest in founders who think about pivoting"
I'd say it depends on a VC's investment thesis as well as the stage your startup is at.
For the former, some wouldn't like your answer because it implies a lack of conviction (why should I invest in something the founder doesn't trust). Others wouldn't because it adds a degree of uncertainty (if this B2C reels company pivots into MLOps tooling how can I do due dilligence on my investment).
For the latter, seed/pre-seed that is open to pivoting isn't necessarily a negative flag because they are barely generating revenue as is and are trying to find PMF, but a Series B startup suddenly taking about a pivot might imply they aren't doing so hot.
> A write up about the new design would be cool I think
We ain't the LPs. We don't deserve an answer.
It's a lot deeper than an apparent lack of conviction. Mentioning the possibility of a pivot completely changes the dynamic of the investment. 'No pivot' is asking "please invest in this startup; here's why it's a good idea". 'Pivot possible' is asking "please invest in me; I will find a way to get you a return on investment regardless of the means". Asking someone to invest in you as a person requires a certain level of egoistic thinking. Is the ego warranted? Maybe, but the investor won't know unless they build an extremely close rapport with you. Something like YC does with a 3-month on-premise bootcamp is that exact opportunity for investors to build a close rapport, so investing in people makes sense for YC. But a lot of investors are investing without building that rapport, so investing purely on the merits of business ideas makes more sense for them.