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Just one thing I'm curious about: How do you later find out if you had been correct? Have you tried to estimate how often you've been correct by following up on the people later on?

RE the article: awesome that you have the goal of funding good people and constantly asking yourself what's best for the founders.

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It's not like YC gives them money and says "cya" and never talks to them again. They are probably forever involved in the start up until they exit, which doesn't seem to happen often.

Exactly. We're painfully aware of our mistakes.

Then, why implicitly stating that "some" rejected applicants were bad persons? Why not simply saying "we did not invest because we don't think it will succeed."

That will reveal the false positives, but not the false negatives.

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