Y Combinator Fires 20% Workforce As It Scales Back Late-Stage Investments

Y Combinator Fires 20% Workforce As It Scales Back Late-Stage Investments

SUMMARY

Y Combinator CEO Garry Tan said that late-stage investing became a “distraction from core values” for the accelerator, hence the decision to scale back

The US-based startup accelerator said that the development was not a consequence of Silicon Valley Bank’s collapse last week

Last week, Tan called the collapse of SVB an ‘extinction-level event’ and asked US regulators to save the startup ecosystem

US-based early stage startup accelerator Y Combinator on Tuesday (March 14) laid off 17 employees, or around 20% of its workforce, citing its decision to scale back late-stage investments.

In a blog post, the startup accelerator’s CEO Garry Tan said that late-stage investing became a “distraction from core values” for Y Combinator, hence the decision to scale back these investments.

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