The angels get one extraordinarily significant bit about all presenters prior to the Demo Day presentation: they were in YC. That is a very significant bit relative to another similarly situated twenty-something which a gleam in their eye and prototype on their MacBook.
It used to be implicit that some angels were saying "If you're good enough to be in YC, you're good enough to get investment from me." That is now 100% explicit for at least one deal. The vetting is getting outsourced, streamlined, and productized.
It used to be implicit that some angels were saying "If you're good enough to be in YC, you're good enough to get investment from me." That is now 100% explicit for at least one deal. The vetting is getting outsourced, streamlined, and productized.