Sam Altman steps down as President of Y Combinator; Now becomes the Chairman

Sam Altman is transitioning from the role of the President to Chairman of Y Combinator, a Silicon Valley accelerator.

In a blog post shared by the company, other partners have taken up Sam’s operational responsibilities. This change will allow Sam to spend more time focusing on OpenAI while still being responsible, along with the rest of the partnership, for the long-term social and economic success of YC.

Chosen by predecessor Paul Graham in 2014, Sam Altman was YC’s second-ever president.

The post also stated that the company was looking to move its HQ from Mountain View California to San Francisco. Apart from moving close to its Bay Area alumni, the company believes that  “the center of gravity for new startups has clearly shifted over the past five years.”

Y Combinator was started in 2005 by Paul Graham, Jessica Livingston, Trevor Blackwell and Robert Tappan Morris.

The current total market capitalization of YC companies is around $150 billion. The YC network now has over 4,000 alumni and 1,900 companies, and it has become a reliable source of advice, customers, friendship, and support for YC founders.