Chamath

Well, let's use this podcast. If you see government waste, tell us.

And no one really cares because the media doesn't really shine a light on it because they're completely tribalized as well.

And no one really cares because the media doesn't really shine a light on it because they're completely tribalized as well.

No, no, I meant their donors, their donor constituents, not the citizens of the country.

No, no, I meant their donors, their donor constituents, not the citizens of the country.

For sure. How do you think these contracts get awarded?

For sure. How do you think these contracts get awarded?

I mean, that would be... So they're giving the money away and they're so incompetent they're not getting the political benefit from it.

I mean, that would be... So they're giving the money away and they're so incompetent they're not getting the political benefit from it.

No, they're so incompetent they can't get it out of their own way. But somebody's getting that, call it 50 billion, that we don't need to spend. And the way that money is awarded is going to be political. You don't think that they're going to turn around and give big political contributions?

No, they're so incompetent they can't get it out of their own way. But somebody's getting that, call it 50 billion, that we don't need to spend. And the way that money is awarded is going to be political. You don't think that they're going to turn around and give big political contributions?

Let's start a running list.

Let's start a running list.

On this program, we'll do it at the end of the show. Every time we'll have a running list at all in.com of just every one of these scandals and we'll feature it. So leak it to us first. Send it to us. My DMs are open. All right, listen, early stage investing has always been hard. There was a tweet storm this week that Y Combinator might be having a hard time replicating their early success.

On this program, we'll do it at the end of the show. Every time we'll have a running list at all in.com of just every one of these scandals and we'll feature it. So leak it to us first. Send it to us. My DMs are open. All right, listen, early stage investing has always been hard. There was a tweet storm this week that Y Combinator might be having a hard time replicating their early success.

We'll discuss it now. A thread this week from ex-user Molson Hart caught a couple of people's eyes. He made the case that it's been a rough decade for YC based on the accelerator's top companies page. YC lists its top companies by 2023 revenue there.

We'll discuss it now. A thread this week from ex-user Molson Hart caught a couple of people's eyes. He made the case that it's been a rough decade for YC based on the accelerator's top companies page. YC lists its top companies by 2023 revenue there.

And you'll notice there's not a lot of companies from the recent cohorts out of the 50 companies featured, only three are from the classes after 2020, most of them being from the early 2010s. Obviously, that's because they've been around longer, but it sparked a big discussion that there were so many winners from the 2009 to 2016 era, and that maybe the class size at YC has expanded a whole bunch.

And you'll notice there's not a lot of companies from the recent cohorts out of the 50 companies featured, only three are from the classes after 2020, most of them being from the early 2010s. Obviously, that's because they've been around longer, but it sparked a big discussion that there were so many winners from the 2009 to 2016 era, and that maybe the class size at YC has expanded a whole bunch.

And maybe that's part of the problem. But there's a bigger problem in VC that we've talked about here. Here's a chart from Carta that just shows the percentage of VC funds that have made a distribution since 2017. Over 40% of 2018 vintage funds have not made a single distribution yet.