In one of his essays, PG wrote about the paradox of knowing that the success rate of YC companies indicated that YC could absorb a lot more risk, yet was unable

In one of his essays, PG wrote about the paradox of knowing that the success rate of YC companies indicated that YC could absorb a lot more risk, yet was unable to do so because spotting good ideas that look like bad ideas (or bad ideas that could become good ideas) was incredibly difficult. I believe that critique has been sufficiently answered.