When looking at it from a start up point of view...isn't is possible to emulate most (all?) of the lessons you learn from grad school in the start up environment?
I was actually thinking the other day. What would happen if Instagram applied for YC ? (May be they even did :)) Some of the characteristics don't look so good. Shall we see….
I actually think YC would probably have picked up on them...Especially with the early traction numbers. It would be interesting to have a postmortem of applicants...but I doubt YC would ever release that information.