There is likely some level of selection bias to it as well. If I think it's unlikely to get in without that ivy/engineering school background I might not bother

There is likely some level of selection bias to it as well. If I think it's unlikely to get in without that ivy/engineering school background I might not bother to apply. I don't personally believe that -- I'm confident in my 23 years of experience. It's unlikely I'll apply this weekend, but I did find a cofounder through the YC dating app. Maybe next batch.