My Y Combinator S12 Story
argumentum.posterous.com
argumentum.posterous.com
There is such a consensus of thought in the startup world that "ideas are useless, it's all about execution." But, I think this is flimsy thinking. Amazing execution with a shoddy idea doesn't benefit anyone. This account seems further validation of that thought.
I think a great idea has the opportunity to build consensus among founders and aid in forming a team. It seems nearly impossible to find other people to join existing ideas and be as passionate about their promise and future.
In terms of talent, I don't think (in all humility) that there were many teams in our batch THAT much more talented (at least on paper we were very very solid). In terms of personality there were mismatches that only came out later when tested by conflict.