Mixergy interview

Graham talks about starting Y Combinator and funding early participants like Reddit.

That very first summer, I mean, the reason we decided to invest in start ups in batches, all at once, was because we didn’t know what we were doing … For both the hirers and the employees, summer jobs are kind of like a throwaway thing. So, we thought, well, as long as everybody treats summer jobs as a throwaway thing, we’ll have this summer program, and if it turns out to be a disaster, no one will blame us.