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Sam Altman, then president of Y Combinator, arrives in Dresden, Germany, for the 2016 Bilderberg Group conference on June 9, 2016.The president of one of Silicon Valley's most famous startup accelerator programs is stepping down. Y Combinator announced on Friday that Sam Altman is transitioning to chairman and will focus his time on OpenAI, his nonprofit AI research company.
Altman's move comes at a time of transition for the accelerator known for helping launch tech companies such as Dropbox and Airbnb. Y Combinator also confirmed on Friday that it plans to relocate its offices to San Francisco from Mountain View in California’s Silicon Valley."The center of gravity for new startups has clearly shifted over the past five years," Y Combinator said in a statement.
Under Altman's purview, Y Combinator expanded its accelerator program from hosting two batches of startup companies each year to working with companies at more stages of their growth process. Last year it added its Startup School to provide free online training on how to start a company. Y Combinator also launched a Series A program to help its graduates raise their next funding round.
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