Makes sense.  No reason why YC needs to recede over time and progressive funding rounds.  Long tail early stage startups are the beachhead, this is the &quot;big vision&quot; -- vertically integrate the VC stack.  Right now other VCs are benefiting from the value YC adds at the beginning of a company&#x27;s life.  YC&#x27;s stake increases in value, but this lets YC keep betting on itself.<p>Good stuff.