What’s it like being a Y Combinator startup?

With just a 2 percent acceptance rate, it’s statistically harder to get your startup into Y Combinator than it is to get accepted into MIT or Stanford undergrad. The hot incubator/accelerator has spawned some of the biggest startups including Reddit, Dropbox and Airbnb. For those on the outside, looking (to get) in — what’s it like being a “YC” company?

Is this episode of See Founders Run, MemSQL founder and CEO, Eric Frenkiel (YC Class winter 2011) talks about how to make a strong application to YC, how YC works and what those dinners are really like.