Assuming that the applicants are able to demonstrate:
- they can build stuff
- they're a good team fit (e.g. showing a small project from the past)
- they can generate ideas which they're passionate about
If not: do you have a tip for improving these nearly graduated* university applicants?
* 80 hours of course work left
We once tried funding companies with no idea. It didn't work. I'm not totally sure why. Perhaps the time pressure of YC is bad for coming up with a really good idea (the best ideas often start out seeming bad). Perhaps the best founders always have ideas.
Theory: it's not the value of the idea in itself, but the motivating effect it has on the founder. An idealess founder goes nowhere. "Going somewhere" is necessary for exploration - even if your destination turns out worthless, you might find something better than you imagined along the way. But there's no serendipity without a journey.
- What is the current theory of the role of founder ideas at YC?
→ What experiment could disprove it?