If you look at the batch data [1] it is very clear that there is either an investment thesis or some inherent bias in how they choose startups. Since Garry Tan took over it is now heavily favoured towards (a) SF based, (b) young, (c) AI centric.

And if you look at the partner YouTube videos you see why. There is a concerning lack of diversity in how they see the world i.e. they are all very much the e/acc types.

[1] https://www.walturn.com/insights/in-depth-analysis-trends-in...