Earlier quoted context omitted.
I did miss it, thank you You can still apply multiple times after getting rejected. There’s plenty of stories of companies/founders that only got into YC after several rejections To be honest, if I were in their situation I wouldn’t apply again, but it could be a good move regardless
I'm not sure what YC's stance is on investing in established businesses, but in the VC world as a rule it is 'not done' to invest in multiple competitors active in the same field. That path is rife with conflicts of interest.
Sometimes this happens without them even knowing, because they put money into a company very early on, then the company pivots and starts competing with another YC company