Responds to Angelgate

Graham responds to the controversy by detailing what Y Combinator does. He doesn’t directly address Angelgate but says that he ‘realized recently that a lot of people don’t understand very well’ what the firm does. He describes the funding cycles and Demo Days, and includes feedback from one founder:

Most of the practical advice is redundant, but there’s value in it even as such—if you hear the same things over and over again from different angles, especially from prominent people, it tends to sink in more.