I have noticed this language about avoiding signaling in previous YC announcements and I think its a great thing to be cognizant of. Setting aside the fact that

I have noticed this language about avoiding signaling in previous YC announcements and I think its a great thing to be cognizant of. Setting aside the fact that YC itself is an enormous signal, its a sign of maturity to realize that even your inaction is a signal. I imagine there was feedback from past YC classes who didn't receive follow-investments that were suffering more from the absence of YC than simply the lack of those funds. Once you realize that you could either stop funding companies after graduating altogether or invest in all of them, both of which remove the signal. With the funds they have, clearly there is considerable risk tolerance for the latter.