Richie - oss/acc @richiemcilroy
Jun 7, 2023 Officially sold Reflio
This is now the 4th SaaS I've exited.
Im not sure this guy needs YC at all. Would a cofounder just be a drag on his current success? If it's the wrong one I think it might.
It sounds to me like Richie just wants to keeping doing what he's done, which is great, but it's unsurprising that YC isn't interested in that. They don't want reliable small successes, they want occasional unicorns.
When you're trying to launch a small success you pick a niche that is small enough that no one is competing there yet, then build for it while keeping your costs as low as possible. There's basically zero chance of that turning into a unicorn because you picked the wrong market and aren't investing enough money in it, but there's a relatively high chance that you'll get enough customers for a modest exit or lifestyle business.
A startup with a chance at becoming a unicorn needs to pick a market that is big enough to support a unicorn, which are exactly the markets to avoid if you're trying to start a small success. Then you have to execute completely differently, spending tons of money long before profit materializes in the hope that you'll build something awesome before you run out. If you try to take it slowly and are in a good market you'll be passed up by someone who ran.
I will say that having success exiting doesn’t mean people can either afford to start a new one, nor that they should spend their own money doing it even if they can afford it. I spent too much of my own money on a startup, had a successful exit, and I definitely won’t do that again.