Seven Social Media Week Events

Image via WikipediaI tried very hard to limit myself to few Social Media Week events this year. First I decided on one: the party Thursday. Then I added one more. Then one. And I am like, that's it. But now looks like I will have attended seven Social Media Week events by the time the week is over, one of them on LiveStream. That counts. I got to witness the entire panel discussion, and got to ask a question on Twitter.

This morning the UN panel discussion was great, except the moderator chunked off the Q and A session. What a bummer. I approached him later and asked the question anyway.

"What is happening in Egypt right now, we did this successfully in Nepal in 2006. I was the only Nepali in America to have worked full time for it. We did good. That inspired protests in Tibet and Burma, both of which were mercilessly crushed. Iran's was another failure in 2009. Tunisia was a success, but Egypt is struggling. Social media is important. My blog was my primary tool when I did what I did, not phone calls, although those I did, not events, I attended quite a few. But at the end of the day social media is just a tool. Ultimately the challenge of a political revolution and of confronting the ugly, concrete versions of sexism in some parts of the world are social and political in nature. The solutions are primarily political. Would you agree?"

Social Media Week: The Best NY Tech MeetUp Ever

Yuri Milner's Smart Y Combinator Move

Image by davidcrow via Flickr

Wall Street Journal: Y Combinator’s Paul Graham On The $150K Per Start-Up Offer: “It’s probably one of the most surprising things that has happened so far,” Graham said. ..... Milner teamed up with SV Angel–the seed fund run by prominent angel investor Ron Conway–to offer $150,000 each in convertible debt in each company. .... Of the more than 250 companies that Y Combinator has produced since 2005, more than 20 have been acquired, but mostly for small amounts. The biggest success, by acquisition price, is Heroku Inc., which Salesforce Inc. bought in December for $212 million. ..... convertible debt–which converts to equity once the company raises venture capital at a set price–with no valuation cap and no discount, an extremely rare set of terms for entrepreneurs. ..... Y Combinator companies received $11,000 plus $3,000 per founder in exchange for 2% to 10% of equity ..... the average Y Combinator company raises $700,000 after the program. .... “The biggest change and huge change for better is now none of them are desperate,” Graham said. Fund-raising “takes a lot of time away from the company. Now they’re already there. They have that foundation.”

I don't think a Google or Facebook can come out of Y Combinator. The big iconic companies tend to have this streak of independence. But I think Y Combinator is great for middling companies. I'd be very surprised if any Y Combinator company goes IPO some day. But many have been and will be bought for a decent chunk of change. Many will stay mid size and profitable.