Michael Seibel, Y Combinator's first Black partner (2013) and first Black president (2016), is number #5 on MyCofoundr.AI's Black Vanguard List (https://lnkd.in/ekAbZ7cG). 🎉
Michael is a trailblazing founder, investor, and board member, who has redefined what excellence and leadership looks like in tech and venture capital. From co-founding Justin.tv (which became Twitch and was acquired by Amazon for $970 million), to leading Socialcam (acquired by Autodesk for $60 million just 15 months after its launch), Michael’s entrepreneurial track record is impeccable.
Now serving as Group Partner and Managing Director, Early Stage at YC, Michael has been pivotal in shaping YC’s global reputation and empowering founders from under-networked communities. Since its inception, YC has backed over 5,000 startups with a combined valuation of more than $600 billion, and Michael has personally guided hundreds of these companies to success. He also serves on the boards of companies like Reddit, Inc. and Dropbox, driving innovation and championing diversity at the highest levels.
For anyone seeking inspiration and actionable insights, check out this must-watch video where Michael shares “What I’ve Learned After 10 Years at YC”: https://lnkd.in/eCJjeSmZ.
For founders, Michael’s decade of insights at YC is invaluable:
➡️ Solve real problems: Focus on underserved markets you understand deeply, turning challenges into opportunities.
➡️ Show traction: Metrics like retention and revenue can open funding doors and overcome systemic biases.
➡️ Tell a clear, compelling story: Clarity and vision in your pitch are essential for standing out.
➡️ Bootstrap early: Prove your concept and resilience before seeking external capital.
YC itself actively invests in diverse founders:
-- AUM: Over $80 billion
-- Average Check Size: $500,000 for a 7% equity stake
-- Diversity Investments (as of 2023): 15% female-founded startups (~644), 10% Hispanic/Latino-founded (~424), and 6% Black-founded (~246).
-- Focus Areas: Pre-seed and seed-stage startups in software, biotech, education, consumer products, and more
-- Success Stories: Airbnb, Dropbox, Stripe, Reddit, Inc., Instacart, DoorDash, Coinbase, Brex, PagerDuty, etc.
Michael’s leadership has significantly influenced YC’s commitment to inclusivity, proving that innovation and inclusion go hand in hand.
Thank you, Michael, for your exceptional contributions to the entrepreneurial ecosystem and for paving the way for a new generation of founders and investors to thrive.
#BlackExcellence
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