All of Y Combinator startups try follow the same playbook: successfull exit, or successful IPO. YCombinator benefits from both. Since most YCombinator startups

All of Y Combinator startups try follow the same playbook: successfull exit, or successful IPO. YCombinator benefits from both. Since most YCombinator startups never see any profit, late stage investment becomes a risky proposition since even "top YCombinator startups" lose billions of dollars a year, for years, with no path to profitability or recouping investments.