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1M/1M Video: YCombinator vs. 1M/1M

Posted on Saturday, Jan 28th 2012

Note: YC has recently (April 2014) announced that they will put 120k for 7% of equity. This is a much better deal for entrepreneurs. However, YC is evolving into a seed fund. More analysis: YCombinator’s Further Evolution into a Seed Fund.

This segment is a part in the series : 1M/1M Video

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[…] Tell us about 1mby1m program. What are the benefits? Who are the ideal candidates for this program? One Million by One Million (1M/1M) is a global virtual incubator that aims to nurture a million entrepreneurs to reach a million dollars each in annual revenue and beyond by 2020, thereby creating a trillion dollars in global GDP and ten million jobs. We come from the point of view that mercantile capitalism has created a system that has been hijacked by speculators, and a Fortune-at-the-tip-of-the-pyramid world order has come about. On the other hand, financial tools like micro finance, while they address the very bottom of the pyramid, leave the middle of the economic pyramid unaddressed. In the middle, thus, various dysfunctions have emerged, including a myth that entrepreneurship equals venture capital. The truth is that entrepreneurship equals customers, revenues, and profits. The rest is optional. 1M/1M is focused on catering to this important middle and addressing the gaps, the key one of those being the gaping knowledge gap. Here are a few videos explaining the 1M/1M program in more depth: The Other 99% (Entrepreneurs) Democratizing Management Consulting Democratizing Entrepreneurship Education YCombinator vs. 1M/1M […]

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