I've seen the 3% number mentioned a few times, and seem to remember hearing that...

dustin on April 3, 2012 | parent | context | favorite | on: How does Y Combinator scale Y Combinator?

I've seen the 3% number mentioned a few times, and seem to remember hearing that this has stayed consistent for some time (so more applications but still 3% -> bigger batch size) but I can't find the original source just now.