[graderjs]

I think that's true. it's not dissimilar to an employment application. I never realized this before reading your comment but I think you frame it right: Basically they're looking for people to do the work required to build a business that they want to make them money, and to be coachable enough to take the advice of the YC folks. Just like an employee. Except it's not framed like that and the rewards can be different (but not always) it's just sort of like a higher level of risk, so the bell curve compared to employee salaries probably flattens out and broadens.