YC is only one kind of material event. Revenue is another one. IP creation is another one. If you book revenue before having an entity, you're comingling. You c

YC is only one kind of material event. Revenue is another one. IP creation is another one. If you book revenue before having an entity, you're comingling. You can assign IP, but if anyone else contributes before you're incorporated, unwinding that can be a significant risk. Stripe Atlas is $500 to do. Arguably your time as an MS in CS today must approach that per day. So it's like saying is one day of risk worth it - almost certainly yes it's worth having it if you intend to spend any serious amount of time doing business.