Startup School Rejection Letter

So I got this email this morning:

Thanks for applying to startup school. Unfortunately we couldn't accept you this year. There were a particularly large number of applications this year: over 2400, and the auditorium seats only 716. So we had to turn away a lot of people we would otherwise have accepted. We are however going to stream the event live on Justin.TV. And we are looking into options for even larger venues in the future.