Ron Conway steps back as Y Combinator cuts team funding
Superstar angel investor Ron Conway will no longer be part of the team of investors giving money to the dozens of startups taking part each year in Y Combinator, one of the world's most prestigious incubators.
Y Combinator said today that it is sharply reducing the amount of venture funding each startup coming through the program is given. For the last two years, each team was seeded with $150,000 in funding from Conway, of SV Angel, Yuri Milner, and Andreessen Horowitz. Starting today, that amount has been slashed to $80,000 per team, the incubator said, as it … Read more