What I meant by 'public, open application process' is that anyone can apply and get their ideas reviewed by very smart people whereas many VC's/Angels won't even glance at you until you're referred by someone they know.
PG has openly stated that the overwhelming majority of the time, it's not that you have a bad startup idea where he can just list of a bunch of reasons why you didn't make it, but rather that other people just simply had better startup ideas. I'm pretty sure the companies they invest in are made publicly available, so it would be easy to see what better ideas are out there.
PG has openly stated that the overwhelming majority of the time, it's not that you have a bad startup idea where he can just list of a bunch of reasons why you didn't make it, but rather that other people just simply had better startup ideas. I'm pretty sure the companies they invest in are made publicly available, so it would be easy to see what better ideas are out there.