The money is helpful if you're close to seed stage, but the network and brand cachet are invaluable. For example, recruiting is crucial for early-stage startups, and it is MUCH easier to recruit high-level talent (and get them to accept more equity in lieu of more cash) when you have a name-brand VC committed.

>> brand cachet are invaluable.

This was much more a value when there was only a handful of companies in each cohort. Now there's 3 groups:

* YC~low number~ that I've heard of: Original signalling value

* YC~low number~ that I've never heard of: zombie

* YC~high number~ : new batch of spray and pray

This is unfair but my initial reaction

Be that as it may, I speak from experience, the label and logo help a lot with recruiting.

So you invest in less YC companies than you did in earlier batches?

You get 500k investment, and you get to participate in the YC accelerator.