"So it shouldn’t be surprising that venture capital firms are starting to worry that YC might start elbowing into the capital allocation part of the businesses.

"So it shouldn’t be surprising that venture capital firms are starting to worry that YC might start elbowing into the capital allocation part of the businesses." It seems like YC currently doesn't have the whole Investor Relations infrastructure (or mindset of dealing with pensions) to get into the mainline VC business. I do think they are protecting their franchise against poor VC behavior though.