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Re:Ask HN: Should we apply to YC if they backed a competitor? by Skywing on Tuesday February 22, 2011 @05:50PM (#2251951)
PG states that they will fund multiple startups in the same market. I believe it may be on the FAQ, or How to apply successfully.

If I were you, I'd definitely apply. If you don't, then you've guaranteed yourself no funding or YC experience.

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