| I think this is the explanation for why YC gets hundreds and not thousands of applications. Most hackers get jobs and generally make quite substantial income. Then they get comfortable with being able to provide for themselves well (and frequently a girlfriend or wife). Even without kids there's a lot of commitment there. A 1 year lease on a nice apartment, a girlfriend/wife "accustomed" to living comfortably, car loan/insurance, etc. Years of people doing this means that the highest potential founders have day jobs right now. For them paths to a startup are 1) Make a lifestyle change and go back to having little money. 2) Get sizable funding 3) Manage to pull off something in their spare time. I think #2 and #3 are rarely successful, making #1 the most likely path to startup success for someone in this position. Give up money, car, (nice) housing, girlfriend/wife(?), etc. to slave away with no life on a startup that will probably fail. Certainly seems like a good filter for determination, the most important attribute, the chances of success for these people must be higher. I suppose YC figures that the potential for these people is not significantly high enough to justify the smaller number they could fund. Better to do 12 x $20k investments with 25% chance of success than 2 x $120k with a 50% chance.
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