"like any portfolio of startups ours has a pretty steep power law distribution. If we can produce accurate estimates of the values of the top 10%, we'll have a

"like any portfolio of startups ours has a pretty steep power law distribution. If we can produce accurate estimates of the values of the top 10%, we'll have a sufficiently accurate estimate of the total value. " No... this is incorrect. Power laws looks like this (imagine the "top 10%" in green): http://en.wikipedia.org/wiki/Power_law http://en.wikipedia.org/wiki/Power_law so the median value, or even showing a histogram of all values, would be WAY more informative. My hunch is that the "22.4m" average valuation is way higher than most YC grads.