With more than 200 deals since 2005, Y Combinator’s Paul Graham knows how to size up a young team of entrepreneurs. However, he didn’t get it right from day one.

On Friday, we got a chance to talk to Graham after his morning panel with SV Angel’s Ron Conway. He discussed how his strategy has evolved over the past five years and why the balance of power is shifting in Silicon Valley. See videos ahead.

CrunchBase InformationY CombinatorPaul GrahamInformation provided by CrunchBase