[gdilla]

Apply first. You don't have a decision to make until you've been accepted.

[hutzlibu]

I disagree. I think you should be sure to want it, if you apply. Otherwise it is half-hearted.

[pedalpete]

Your chances of getting an interview or acceptance are so slim, you have nothing to lose by applying and thinking through the application process could help clarify parts of your business.

Think of YC as a customer, as all investors are. You're selling them the investment.