Garry Tan has revealed his ‘secret sauce' for getting into Y Combinator [TechCrunch]
Coinbase Global, Inc. - Class A (COIN)
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Source: TechCrunch
The Economic Club of Washington, D.C. hosted Tan Wednesday for a one-on-one interview with Teresa Carlson, a General Catalyst board member. It's widely known that Y Combinator accepts less than 1% of the applications it receives — the last batch was whittled down from 27,000 applications, Tan said. Cohorts these days tend to be around 250 companies. So Carlson wanted to know, among other topics, what was the “secret sauce,” if you will, to getting accepted into Y Combinator. First, it might be one of the few places where you don't have to know anyone to get in, Tan said. Anyone can go to the website, apply and submit a one-minute video. YC's 14 partners read the applications to understand a few things: who is the applicant's potential customer and what have the founders built in the past? Top applicants then go on to answer a handful of questions from the partners. “So many venture capitalists are taking meetings, week-to-week, and saying ‘no, no, no, no,' and then maybe a few
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