Too Long; Didn't Read
People tend to think that the better university, or startup accelerator, is a predictor for the future success of an applicant. Logically, it's more likely that many good students end up applying to Ivy League-type schools, but if they didn't, they're still good students that'll go on to be successful. The reverse is true as well, which is why you'll have more dropouts in lower-ranked universities and startups. Ultimately, a YC rejection is not a predictor of your future success or failure, because YC success stories aren't entirely causal.
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