We look forward to writing a lisp REPL Facebook app that will provide millions of users the ability to be the next generation of YC's. We plan on monetizing it by taking 0.5% of each company who uses our app and gets through YC, we are calling it meta-meta-entrepreneurship.
We celebrated by stealing some laptops in the parking lot while other teams drank their sorrows away.
(OK, I didn't apply)
(followed by long islands and jager bombs. and yes, our data was protected by dropbox, we didn't lose a second of work ;))
it's a called a trunk and valet keys. use them.
I don't want to spill too many beans, but I will give some advice.
YC is nice. They are not necessarily going to be nice to you during the interview.
We expected YC to have remembered more of our written application, and that threw us off. We wound up explaining things we hadn't prepared for, and not explaining what we should have.
Ten minutes is nothing.
In other words, everything went wrong!
And a tremendously valuable experience.
Congratulations to everyone who got funded.