The “boot camp for startups” and one of the most commercially successful seed accelerator in the world, Y Combinator has grown into much more than just a seed accelerator over the past two years under the leadership of Sam Altman.
And now, Sam Altman has announced major changes in the leadership and management of Y Combinator by appointing different people to take over the lead for various programs of YC- YC Fellowship, YC Core, YC Continuity, YC Research, and Hacker News.
YC was far too big for any person to run all of it.This lets different people run different areas, and I’ll be able to collaborate with all of them,
said Altman in an interview.
Under the new structure, the Gmail creator Paul Buchheit, who joined Y Combinator more than 5 years ago, will take over Altman’s place as managing partner of the core YC program. YC program is the main part of Y Combinator which offers guidance to over 100 startups every year and grooms them for pitching their ideas to investors.
YC Fellowship is an extension to the core program which grants $12000 to early age startups with smaller teams. Kevin Hale will be the managing partner for the fellowship now onwards.
As far as Altman himself is concerned, he will look after YC Research which is a non-profit research lab started in October last year. Sam has donated $10 million in the research lab and it is expected to work on larger projects which require a longer time frame to implement than a normal seed stage venture.
However, Sam said that he would look after YC Research only until they find the right person to replace him. In the meanwhile, he will also continue to spend time across the three investment programs- YC Fellowship, YC Core, and YC Continuity.
Additionally, he also announced Kirsty Nathoo as the CFO across the entire YC group, and Carolynn and Jon Levy as the General Counsels across the YC group too.
This is the second time Sam has made significant changes in the structure of Y Combinator. Last year, he had spun out the company’s tech publishing website Hacker News to make it an independent editorial entity under the direction of Daniel Gackle.
Also, YC Continuity- a $700 million late-stage growth fund announced by YC last year will continue to be led by former Twitter CFO Ali Rowghani.
The new structure, according to Sam generally reflects how they have been operating unofficially over the past few months and just give them the opportunity to get more done in parallel.
I still expect to be involved in every major decision. I just won’t be doing some of the things I was doing before, like, if someone investor is misbehaving and we need to go deal with that, I can avoid getting involved hopefully,