Y Combinator interviews start in about 3 hours. Being on the East coast we can't really show up and give advice to the teams as they arrive, so here it is. From Boston with love.
Everyone has a different experience during their Y Combinator interview, but there are some common threads. I'm going the separate them out into things you need to manage and things you need to do to ace the interview.
Manage
Fear. If you walk in nervous you are going to waste the first 5 minutes calming down and hitting stride. The interview will be pretty much over by the time you catch on fire. Throw a stiff drink down before you walk in that room or walk around the building a couple of times.
Bullshit. Don't just make things up because you think it's what they want to hear. It's probably not. Be completely honest, thoughtful and brief. The more questions you can answer in that 10 minutes the better.
Acing
Get to the demo. What did you build, why is it awesome and where are you going with it. Walk into that room with a laptop open to your demo. Introduce yourself and then get right into it.
On the day of our interview we asked the team before us how it went. They said: "I think well, but we never got to the demo. We talked theory and market the whole time." I _never_ saw those guys again. This is not a normal pitch where you have a deck, 30 minutes and an agenda. The YC team will most likely steer the conversation in anyway they see fit. Your goal is to get the demo in, show that you are passionate, honest and you will get shit done.
Disagree, but don't get stuck. Everyone wants to be right, but if you waste all your time fighting on details you will never get through it all. A tactic to move on is pretty simple. Acknowledge the difference in opinion, state your thesis and back it up.
"Ok, I understand. Our thesis is X and we have seen this through this data Y."
Ever get in an argument with someone that is devoutly religious? The conversation always ends with: "Because God said so". In our world data is God.
You are going to have to steer the conversation back to your startup at some point. They will want to talk amongst themselves and do a little debating. You can do this by bringing them back into the demo, by saying "hey, look at this." Remember that they are raccoons and you have something shiny.
Lastly, pay attention to Jessica. While she is not on the cover on INC, Jessica reads people better than anyone else in that room. Her vote will go a long way towards getting you a phone call later that night.