If you advertise that you only accept/hire <n% of applicants, what you're telling me is less that you're exclusive and more that you don't properly communicate with potential applicants and consider it beneficial to you to waste their time
YC only accepts a small percentage of applicants, but they certainly don't want to waste anyone's time.
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To confirm: We spent 3 hours preparing an application, 10 minutes interviewing, and had an expenses-paid trip to the valley, which more than made up for the cost of applying. The chance of getting in also makes up for the small cost of applying...
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But even though we never got in - the interview process still felt like a net benefit, since we got to squeeze in a number of other meetings in the same trip.
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Having a low acceptance rate is not the same thing as advertising one — if you're treating low acceptance as a value add, I don't think your incentives are aligned with mine as an applicant
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In YCs case, that low acceptance rate acts as a credentialing mechanism no?
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