The head of Silicon Valley's most prestigious startup incubator says he's "sad" that so few virtual reality or augmented reality startups are applying for the chance to get $120,000 and valuable advice from A-list alumni like Airbnb, Stripe, and Dropbox. Last Friday, YC president Sam Altman lamented the low application numbers for YC's summer class in a tweet, adding "If you're doing this and want to apply late, email me!" Every year, the incubator gets more than 5,000 applicants for a class of about 100 startups.
The folks at YC expect things to turn around soon. "One of the things we've noticed is that application cycles come in waves," spokesperson Justin Kan told Fast Company's Daniel Terdiman. "We had a lot of VR startups apply in the past. It might be the case that the super early adopters have all started VR companies [already] and applied to YC, and now we have to wait for there to be distribution of VR and AR devices for there to be another wave. From our perspective, it's going to come."