Ask HN: Should we apply to YC if they backed a competitor?

<a href="http://ycombinator.com/faq.html" rel="nofollow">http://ycombinator.com/faq.html</a><p><i>Will you fund multiple startups working on the same idea?<p>Yes. If you fund as many companies as we do it's unavoidable you'll end up with some overlap. Even if you tried not to accept competing companies, you'd still get overlap because startups' ideas morph so much. The way we deal with it is that when two startups are working on related stuff, we don't talk to one about what the other's doing.<p>In practice it has not turned out to be a problem, because most big markets have room for several slightly different solutions, and it's unlikely that two startups would do precisely the same thing.</i>

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

Since they invest mostly in people, and then their projects, you should apply.

YC has funded competitors before, most notably Etacts vs Rapportive, but also Adioso vs Hipmunk.

This absolutely happens, sometimes even in the same round - for example, in YC W09 there were two photo sharing services: Divvyshot and Picurio.

There is virtually no reason not to apply, aside from the time-cost of filling out the application and recording a video. Go for it!