I agree that recent graduates can be extraordinary, but a team with no seasoned developers is still a major red flag to me. I've worked on many projects, some

I agree that recent graduates can be extraordinary, but a team with no seasoned developers is still a major red flag to me. I've worked on many projects, some successful, some not. The difference was often that the successful projects had a critical mass of wise people who had learned from past failures and could anticipate the pitfalls and avoid them -- it seems more rare that actual project success comes down to having yet another brilliant programmer.