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Startups were supposed to make credentials matter less: http://www.paulgraham.com/credentials.html

But ycombinator itself in lots of ways turned out to be a credential network like an old school law firm. Even including early associates becoming promoted to partners, etc.

But the ycombinator application process itself at least still doesn't rely on much if any credentialism.

"When we were kids I used to annoy my sister by ordering her to do things I knew she was about to do anyway. As credentials are superseded by performance, a similar role is the best former gatekeepers can hope for. "

Maybe that is close to the role Y Combinator has ended up with as it expands. Getting a slice of startups that would be persuing the same thing with or without Y Combinator, in exchange for acting as a credential and signal to investors.

But there is a big peer-network component to it too, which is more similar to universities than to law firms. There are sort of semesters and the startups identify by "class year." Though that probably happens a bit a the bigger law firms too. Entering associates get a network out of it even if they don't go on to make partner and end up in government positions or positions at other firms.




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