No, he was probably telling the truth. The alumni do the first pass. But (a) they just vote no or maybe, (b) each application is seen by at least 3 alumni, and isn't filtered out till it has at least 2 more nos than maybes, and (c) we look at their overall stats to make sure no one is giving all nos.
pg don't you think the alumni would be biased towards startups/people they know. Or say no to those that could potentially become their competitors in the future.