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Due Diligence.

Don’t forget that the amount of scrutiny that an accepted YC startup gets amounts to their YC application being read a few times, a ten minute interview with three partners, a background check and another ten minutes for a decision.

This is a lot less than a regular job interview. Consequently, anyone who can sing a song that YC wants to hear has a chance of passing.

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A single bad investment, in a market where most firms fail but a tiny minority deliver outsized returns, does not ruin the entire portfolio. Conversely, a single bad hire can ruin an entire team, department, or company.

Once you get accepted they do further diligence (that can take several weeks if you’re missing things or have been sloppy) to get it all together before they give you the money and let you do demo day.

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