Graham on Start-ups, Innovation, and Creativity
EconTalk Archives, 2009
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At the interview, Y Combinator partners talk to each startup for only 10 minutes, until they decide whether to fund a company or not.

As soon as a team walks in, YC partners dive in with questions. Even though the team tries to make everyone feel at ease, often times the applicants get really nervous when four partners are bombarding them with questions, which only makes it harder for the partners to get all the answers they need.