Some YC companies have had big exits like Twitch.<p>Also, there is a secondary market for private stock. It&#x27;s possible for YC to sell some of their position in the big successes that haven&#x27;t yet IPO&#x27;ed.<p>In the early days, YC raised money from VCs to fund their seed investments. That ended because YC doesn&#x27;t need the money anymore. This continuity fund might be different in that regard.