Comment by fairity

I can think of a few reasons why YC would make this decision without admitting so publicly:

1) Too much negative signaling risk when they don't make follow-on investments

2) Negative returns given the recent downturn

3) The increasing business need to make non-founder-friendly changes in late stage companies (e.g. replacing CEO)

4) Anu/Ali deciding to leave first to start their own fund

I wonder if any of these reasons is a predominant driver.