It's only failing if the absolute number of the pool of cash YC swims in is smaller than it would have been if invested elsewhere like stock market indexes. Ret

It's only failing if the absolute number of the pool of cash YC swims in is smaller than it would have been if invested elsewhere like stock market indexes. Returns always fall as you get larger, but you're making even more money. Far better to have 10% ROI on a billion dollars than 10000% ROI on a few bucks. The question is not what the average is, but what the alternatives are.