Garry Tan shared YC's official guidance emphasizing that founders must clearly distinguish pilots, bookings, revenue, and recurring revenue when reporting traction. He specifically calls out first-time founders to internalize these definitions, avoid conflating tiers of metrics, and prioritize precision and truthfulness in investor and public communications.
Garry Tan (YC) posted YC's official guidance urging founders to be truthful and precise about definitions of pilot, bookings, revenue, and recurring revenue.
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Garry Tan (@garrytan)
Here's YC's official advice about being truthful and precise about what is pilot, bookings, revenue and recurring revenue.
Founders, particularly first time founders, need to sear this into their brains. Don't mistake one tier for another. Be precise, and always be truthful.
— https://nitter.net/garrytan/status/2048017824895909901#m