I mean, yes, obviously if there are people who aren't getting money despite actually being a good investment, then of course that's something that should be ide

I mean, yes, obviously if there are people who aren't getting money despite actually being a good investment, then of course that's something that should be identified. However, I don't think that's a necessarily large amount of people (I could be totally wrong, this is just a gut feeling). It's a pretty well known failure mode that investors try not to fall into. I think a much bigger arbitrage opportunity, one that e.g. YC tried to exploit a lot at first, is getting people who aren't looking for money, but would actually be a good investment, to try building a startup. That's why pg wrote so much about why people should build startups - he thought (and I imagine still thinks?) that there are way more good startups that can be built, if only more people were trying to build them.