I always thought of YC as just venture capital. They always invest money in lots of promising small companies in the hope that some of them make it big. So wh

I always thought of YC as just venture capital. They always invest money in lots of promising small companies in the hope that some of them make it big. So what has changed here? The OP talks about "spray and pray" - but isn't that the fundamental business model of VC? They also mention that they have strayed from early ideals... What ideals were those?