Shalendra

If you think you can do it (i.e. build a successful company), you probably can do it regardless of your status (in school, unemployed or while working for another company). Actually there are numerous examples of people who have done it and each one has their own story. You really can't generalize or conjecture statistics for the future so 1% stat including margin of error is moot. I would rather rephrase your statement as "An entrepreneur is more likely to be passionate about his/her ideas and opening his/her company than building a successful career in another company".

PG is an amazingly genuine guy and I think it is good to apply for those interested regardless of the result. Remember, the story of Reddit guys. Never loose an opportunity to learn from others and in this case, even by applying you will learn a lot from YC folks.