Having graded papers in college and worked with a number of professors, peers are often a far harsher critic.
Investors also operate in a big picture kind of way and see a horizon that is far larger than operators tend to see.
It'll be interesting to see how this adds to the decision-making process for PG. I'd love to see the data (even anonymized) about how the peers review compare to PG and teams reviews.
I think there's an inversion of your logic about grading papers when applied to investing.
Usually grades in college operate on a curve; the peers are harsh because their grade is relative to other students.
In this case, it's ycomb that is putting money on the line. Your peer reviewers have nothing to lose by dropping your name into the hat.
Investors also operate in a big picture kind of way and see a horizon that is far larger than operators tend to see.
It'll be interesting to see how this adds to the decision-making process for PG. I'd love to see the data (even anonymized) about how the peers review compare to PG and teams reviews.