IANAL, but I believe he is referring to the downsides of a standard form contract. The courts have put some limitations on such contracts, because one side gets

IANAL, but I believe he is referring to the downsides of a standard form contract. The courts have put some limitations on such contracts, because one side gets to dictate the terms, and the other side cannot negotiate; he can only sign it or go home. That said, I'm sure YC is going to make a fair contract. It's in their best interests for the startup to suceed, after all.