It took me a lot longer than 20 mins to give the sort of concise, well thought out answers that the application asked for. If you were able to do that in such a short amount of time, kudos.
We haven't been holding back on our idea for YC (and I agree, I wouldn't suggest any entrepreneur should wait for YC's acceptance as the green light to start their business).
We started slightly over a year ago, and publicly launched in April (did Techcrunch, GigaOm, Arstechnica, blah blah blah). So there were a few YC funding cycles where we felt we weren't ready, and didn't apply. We feel that now the time IS right for our company and YC would be a great opportunity.
We haven't been holding back on our idea for YC (and I agree, I wouldn't suggest any entrepreneur should wait for YC's acceptance as the green light to start their business).
We started slightly over a year ago, and publicly launched in April (did Techcrunch, GigaOm, Arstechnica, blah blah blah). So there were a few YC funding cycles where we felt we weren't ready, and didn't apply. We feel that now the time IS right for our company and YC would be a great opportunity.