It should not, they&#x27;ll try hard not to let it make a difference (and in the case of the Yuri Milner investments it did not as far as I can see) but it <i>could</i> change if decisions made in one funding round would affect their ability to attract capital in the next.<p>In other words, LPs have bigger influence in follow on rounds if any of the decisions made in the current round turn out bad for YC, but so far there is no evidence of that as far as I can see.<p>It&#x27;s a very interesting question though, sources of funds tend to exert pressure on the places those funds flow to. YC has always been &#x27;as much hands on as you need or want&#x27; so in that respect they&#x27;ve been very good about letting their portfolio companies run themselves as much as possible while being there when needed.