I’m delighted to announce Peter Thiel is joining YC as one
of the (now 10!) part-time partners. 

In addition to founding PayPal and Palantir and being the
first investor in Facebook, Peter has been involved with many of the most
important technology companies of the last 15 years, both personally and
through Founders Fund, and the founders of those companies will generally tell
you he has been their best source of strategic advice.  He already works with a number of YC
companies, and we’re very happy he’ll be working with more.

We generally won’t bring on people that are involved with
other investing firms given the obvious conflict, but Peter is so good we felt
like we had to make an exception.  Peter
won’t invest in any companies while they’re in YC or for 3 months after they
present at Demo Day (this will apply to Peter’s investment entities as well),
which should eliminate any unfair advantage. 
We’re pretty paranoid about potential conflicts, and we’ll continually
evaluate this and change it if it’s not working.

On a personal note, Peter is one of the two people (along
with PG) who has taught me the most about how to invest in startups.  I am confident that Peter joining will be
great for YC.