Comment by hobofan

Sure, that would be a theoretical failure mode. But that's not really what's happening right now, is it?

YC doesn't look to have a problem of people joining just to get the stamp on the resume and then "half-assing" it after they get into YC. I think that's something that YC is still quite actively selecting against. As long as they are selecting companies that make it to a series ~C (which most founders will stick around for as long as they are on an good-enough upward-presenting) YC can (partially) liquidate at good enough fund performance.