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Stanford freshman Aaron Swartz-a minor legend in certain Internet circles, having co-written the RSS 1.0 standard, a new way of syndicating Web content, at 14, and later a code layer for the online-copyright sharing system Creative Commons-was accepted into the program. Yale students Justin Kan and Emmett Shear pitched a calendar application (yes).
The pair, along with two other partners, met with 19-year-old Sam Altman, who pitched Loopt, a location-aware social-networking application (yes, he’d have a spot in Y Combinator). Graham told Livingston, “You better quit your job.” She invited the most formidable applicants to Cambridge for interviews. He posted a link to the application on his popular blog, and in just 10 days had received more than 200 ideas, many of them viable. It would be a summer experiment, granting just $6,000 per applicant (enough, he figured, for them to eat and pay for a sublet not enough to bog them down). He refused to call it a tech incubator, but did give it a name: Y Combinator. Graham and his then-girlfriend, Jessica Livingston, a marketing executive, contributed $100,000 to what Graham had dubbed his “little experiment”-a way to give scrappy teams of programmers a leg up, outside the venture-capital churn of Silicon Valley. And Paul Graham, an entrepreneur in Cambridge, devised a way to fix the Internet. Ev Williams left Google to found Odeo, the precursor to Twitter. That February, Mark Zuckerberg launched out of his Harvard dorm room. And though funding for tech start-ups was nowhere near the stratospheric levels of 2018, the year would come to be known as one that defined the modern social Web. In early 2004, some of the frost left behind by the dot-com bust had begun to melt away.
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