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Is it correct to assume that teams are notified one way or the other?

Yap. Atleast that's what it says on YC site.

Yes, last batch I got a very nicely written email beginning with "We're sorry to say we couldn't accept your proposal for funding..." about this time.

Haha. They have not looked at my video, so I have a strong chance to see the same email soon.

It is a little bit annoying that they asked for so many things, but then knock you out with your first line.

On the other side, thanks to this application, I feel that I am more concise. It is all about staying positive and moving forward regardless what happen.

Good Luck everyone! (including me :)

The other way to look at the YC application is that it provides a good structure to write down why your business. Regardless of acceptance/rejection, the application is something you can use going forward as a discussion point for your story.

I am already using it to improve my pitch deck ;).

Definitely the right way to view it.

+1

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