From some people I know and even have consulted for, who have applied (and not been accepted), there seem to be many who do it for the status. They went to a prestigious school, they don't like the idea of doing something which isn't successful yet (starting a startup) without a bestowal of a mark of prestige that they can refer others to... I.e. hedging against being viewed as unimportant or a failure, as that would rock their identity too much.
(This radar often goes off when I hear someone refer to YCombinator as 'the Harvard of Incubators.')
I think to be a great founder you have to not only know how to handle failure, but to also be OK with everyone dismissing your venture as a failure, as something even laughable.
(This radar often goes off when I hear someone refer to YCombinator as 'the Harvard of Incubators.')
I think to be a great founder you have to not only know how to handle failure, but to also be OK with everyone dismissing your venture as a failure, as something even laughable.