Michael Seibel is stepping down as Y Combinator’s managing director, a significant role in choosing startup founders and running the accelerator program. His departure comes at a time of reshuffling in the tech industry, with YC caught in the crossfire between tech and progressives. Seibel’s decision to step back may be linked to not being chosen as YC’s CEO, although he denies feeling slighted. YC is shifting its focus back to mentoring founders, cutting batch sizes and discontinuing the continuity fund. Seibel will now mentor a quarter of each batch, particularly relevant as many companies are focused on AI.
https://www.wired.com/story/plaintext-y-combinator-michael-seibel-startup-whisperer/