If a company is in an incubator (except for YC), it is because they weren’t good enough companies to raise money the regular way. I have heard this from various

If a company is in an incubator (except for YC), it is because they weren’t good enough companies to raise money the regular way. I have heard this from various industry veterans including VCs and angels. It is a stigma, not a badge of honor. This is it. And what matters. The people I meet at incubators are, in general, not impressive. YC is somewhat of an exception. About half of YC founders impress me (some highly) and half are in that "really?" category. For other incubators, it's closer to 10/90. It's not that they're young and inexperienced; there are plenty of young people with potential whom I'd hire and mentor in a heartbeat. It's the talent level. Most incubators have a "no one good would be, or stay, here" feel. They're not the big leagues. The "cool" startup scene is a halfway house for immature 22-32 year-olds that looks sorta like college, enough to prevent the reality shock of becoming an adult and having to show up somewhere in a single-digit morning hour. At some point, you start to realize that you don't give a shit about "free dinner" (you'd rather eat with family or friends) or nerf guns. What matters are personal success, interesting work, reputation and compensation. These are all highly correlated with joining a good company, not a "fun" one staffed and run by boys.