It's important not to get too caught up in the legal technicalities. A strong startup (ideas/execution) still has tons of market power, no matter what a secret

It's important not to get too caught up in the legal technicalities. A strong startup (ideas/execution) still has tons of market power, no matter what a secret group of super-angels agree to do behind closed doors. And, most importantly, bootstrapping is more feasible than ever and (as noted) YC is coming on strong.