YC is MORE about the advice from pg, the alum network you are connected to and the long-term value of the connections you continue to make. That is the CORE value of YC--not the $ amount invested.
If he thinks YC is poor, he should have based his arguments on how you can get better advice/connections etc. from raising angel than through YC. Instead he decides to take YC on the $ invested/valuation and merely glosses over the advise/non-$ value of YC. This is little more than a straw man.
He spends ~1 out of the 12 paragraphs addressing the REAL argument. The other 11 are spent on addressing the straw man argument(that YC is good because of its valuation).
YC is MORE about the advice from pg, the alum network you are connected to and the long-term value of the connections you continue to make. That is the CORE value of YC--not the $ amount invested.
If he thinks YC is poor, he should have based his arguments on how you can get better advice/connections etc. from raising angel than through YC. Instead he decides to take YC on the $ invested/valuation and merely glosses over the advise/non-$ value of YC. This is little more than a straw man.