> Yes but there's a difference between a VC investing a billion dollars in one startup and one investing $100K each in a thousand of them.
Isn't that just the difference between "seed funding" and "Series-A/B/C/$letter" funding? In the former, you want small amounts spread across as many parties as possible, while in the "Series" funding you do higher amounts but more concentrated, as you have more data to invest more in what you think will be the "winner".
> YC on the other hand has a 10-minute chat with the founder and...that's it.
I don't think that's true, but I've never been through the process myself. I know for a fact that the extensive written application is also part of it, that is reviewed by people before any interview even happens. I'm sure others who actually been through the process can add if anything is missing.