On: How to lose time and money

[mlinsey]

The first couple YC batches were small enough that the money invested was probably a very small portion of what PG/Robert/Trevor earned from Viaweb.

For later batches, it had become evident that YC's model was promising, and YC also raised money from outside LP's.

[jronkone → mlinsey]

What's an LP?

[sharadgopal → jronkone]

Limited Partners

http://en.wikipedia.org/wiki/Limited_partnership