YC gives companies in its program $120k for 7% ownership and works intensively with them for 3 months, then less intensively afterwards.
Mostly true True in substance, wrong in a detail.
Factual: Statements about the present or the past, checked against the record: did they hold up?
The second judge would not resolve this claim; the verdict shown is the first judge's.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
Judged against YC's standard deal as of early 2017. True: YC's published terms from that time (website or blog posts) show $120k for 7% equity, with an intensive program of about 3 months followed by ongoing, less intensive support. Mostly true: the dollar amount and the 7% stake match, but the description of the program's length or of later support is slightly off. Mixed: one of the two deal terms (the amount or the percentage) differs. Mostly false: both deal terms differ, but YC did offer a broadly similar seed deal. False: YC's terms at that time were materially different from what the claim describes.
Set before the research began.
Evidence (3)
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E1 The New Deal | Y Combinator Y Combinator · 22 April 2014 Own record
“We have a new standard deal at YC—we’ll invest $120k for 7%.”
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E2 Dost Education, Credy And DocTalk - Get Into Y Combinator’s New Winter 2017 Batch Inc42 · 21 March 2017
“The accelerator invests $120K in startups for a 7% equity stake in the selected startups.”
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E3 YC Ends YCVC In Favor Of Raising From LPs, Will Now Invest $120K For 7% Equity | TechCrunch TechCrunch · 22 April 2014
“YC will now invest $120K for 7 percent, compared to the previous structure, which put in an average $17K for 7 percent, plus a “safe” that’s converted at the terms of the next money raised for another $80K.”
Reasoning
YC's 2014 blog post announcing its standard deal (E1) and TechCrunch's coverage of it (E3) both say $120k for 7%. Inc42's March 2017 report on the Winter 2017 batch (E2) says the same, so this was still YC's standard deal in early 2017. None of the quoted evidence describes an intensive program of about 3 months followed by lighter ongoing support. That part of the claim is unverified rather than shown to be wrong, which leaves it short of fully true.
Cite this claim
Sam Altman, “YC gives companies in its program $120k for 7% ownership and works intensively with them for 3 months, then less intensively afterwards.” (said 1 January 2017). Verdict: mostly true. Reliability API, claim c_83c9946b6ee1, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_83c9946b6ee1
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
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When OpenAI started, it took four and a half years before it had its first product.
Verdicts are made automatically; how verdicts are made.