It’s code for “actually the program isn’t as scalable as we thought and a high % of a cohort not getting interest from traditional VCs is probably not a good lo

It’s code for “actually the program isn’t as scalable as we thought and a high % of a cohort not getting interest from traditional VCs is probably not a good look” Remember that something like 25%+ of all YC companies ever are In the post-pandemic cohorts (due to said mega scaling).