Good People, its economic anointing is something else: the most catalytic and impactful company in the world right now, when it comes to building digital technology companies, is an American company named Y Combinator. I have never seen anything like that. A startup looks for $200k on Monday but on Tuesday, YC accepts it, and magically, everyone wants to give it money to the extent that the problem becomes how to politely decline these investors.
A pure inverse system: the investors you have been writing with no-show and interest now become the ones asking for your bank accounts. Yes, they begin to beg you. Why? Some men in America have chosen to give you $125k in return for 7% of your company!
My question today is this: how can someone create something as powerful as YC for Africa? I am not talking of cloning YC website or its business model; I am talking of asymmetric impacts when someone endorses a startup.
And if you look at the whole thing: the easiest way to become a paper $millionaire in Africa is to be accepted into YC. Of course, after the acceptance, you still have to compete and win in markets. But one thing is evident – there is a massive herding in the world of startups, and America has created a supreme club, and the impacts are everywhere from Nairobi to Lagos and beyond.
Some of the great technology companies in Nigeria like Flutterwave and Paystack graduated from YC. So, the results speak for this company.
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