I understand your concern, but the author’s conjecture is that if we drive this “counterfeit capitalism” out, then instead of a few companies being run by and f

I understand your concern, but the author’s conjecture is that if we drive this “counterfeit capitalism” out, then instead of a few companies being run by and for financiers, there will be more companies and more startups and more competition. I suggest that would lead to more tech jobs and higher salaries, because businesses would be based on creating value, not on using an ocean of cash to drive everybody else into bankruptcy. If you buy his argument, “counterfeit capitalism” is actually at odds with what YC is trying to accomplish.