Paul Graham’s new role at Y Combinator

Y Combinator’s Paul Graham announced on Friday he would no longer be involved in the day-to-day operations of the accelerator he co-founded.

He said in a blog post he would continue to hold office hours with startups, but offered few extra details.

At the Launch conference on Monday he talked a bit more about the transition at the pioneering accelerator and insisted entrepreneurs attending its classes would see few changes.

Graham said he expects to hold office hours a couple days a week with entrepreneurs. Beyond that, he won’t read applications or conduct interviews with applicants.

“I won’t have to think about Y Combinator all the time,” he said.

His reduced role will allow new President Sam Altman, the co-founder of Loopt, to put his stamp on an organization Graham expects will grow in size. “It’s Sam’s show,” Graham said during an on-stage interview. “I’m no good at running giant things.”

Graham said separately he views startup valuations as high. “Prices are high (and) valuations are high,” he noted. This is not to say there is a bubble. The public markets don’t seem to show signs of one, he said.

What this means is pricing will likely to fall. “It’s probably going to go down in the future,” he said. “That is what I tell startups.”

Y Combinator’s last class had the highest valuations ever, including one that rose to $50 million after the session, he said.

Photo courtesy of Shutterstock.

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