I wonder if it is actually the case that YC believes 150K is the necessary number to operate over the course of the program. As I recall, the chain of events wa

I wonder if it is actually the case that YC believes 150K is the necessary number to operate over the course of the program. As I recall, the chain of events was YC provided 16-20K, then Yuri Milner decided to index over all YC companies by offering an extra 150K on a no-cap/no discount note, then it became a lot easier for YC to just manage the investment themselves, then the money was rolled into the main YC investment so there wouldn’t be this weird two rounds of investment from the same investor, the latter for a TBD amount of equity. Each decision along this step had other motivations, like DST reaching more early stage companies or YC simplifying their investment, which were unrelated to how much money it takes to get through the YC program, a number which has undoubtedly gone up but probably not by 7.5X