Essential Startup Advice During a Pandemic

Ralston says venture investing and startup activity slowed briefly in March through May, then returned to business over Zoom. YC was receiving more applications than the year before, and its fully virtual summer batch and graduates’ fundraising were going well.

Ralston advises founders to aim to survive without raising more money by conserving cash and being candid about product-market fit. He recommends hiring carefully and considering revenue where it fits the business, while noting that the right path depends on the startup and its market.

Ralston says YC still sees creativity in its applications, including both local ideas and business models adapted to new geographies. He points to Meesho’s marketplace for local sellers in India and says fintech innovation in countries such as India and Indonesia can emerge where existing platforms are absent.

Ralston sees remote education, telehealth, and medical testing as areas where the pandemic sped up innovation. He is also interested in making software smarter across different fields, while observing that integrating systems, including medical records, remains difficult.

Ralston says remote YC made it easier to interview and fund founders far from the Bay Area, including in Brazil, India, and Southeast Asia. He expects a future model that brings people together while keeping remote participation, which has worked well for founders building businesses in their home markets.