“Jump off a cliff because statistically, one of you may fly”.
So the investor will try to convince you to aim for 300% profit with 50% probability (compared to your original plan), because for the investor this simply means +50%. For you, it mostly means -50% probability, because the difference between having e.g. $10M or $30M is negligible compared to the difference between having $10M or nothing.
For example, i've been doing custom development for more than 20 years, made several million in the process, built over 130 project and i still don't have a slightest idea of how it's done - because every single of my client's projects failed - and i would be more than delighted to see how projects succeed first-hand even if the project wasn't mine.
But according to this essay, you followed a BAD path not innovative enough, and the hidden reason why it's bad is because it will never generate any sort of profit for YC.
Now if you had tried 3 or 4 startups in that same timespan, burned through all your life savings, did not make several millions in the process, and failed all you endeavours, you will be applauded by YC.
Why ? because the more people exist like you, the better it is for them.
I think not -- instead this seems quite un-conventional to me:
>> doing custom development for more than 20 years, made several million in the process
Yes, and something one could regret for a lifetime if one never tried, a dream that one never gave the chance
But of course it depends
Why so negative
It can be fun for the founders also if the startup fails, and not always anything to regret
And good for society in general with more innovation, eg YC's request for startups page: https://www.ycombinator.com/rfs/
Many things there are really good for this planet
This article is (yet another) attemp to romanticize and put to pedestal 'startup with a novel idea'. It is worth to mention that trying to trick/persuade/convince (choose freely) thousands (literaly) of people to go this path, benefits tremendously ycombinator - not the persuaded founders. Because for YC if only few are (hugely) successfull they win. Not so for the other thousands. The fact that few means 200 here, does not change that 'other' means around dozens of thousands.
Startups with 'right but not novel' are also GOOD. But they are muuuuch worse for YC. YC is not seeking all investments to end with modest returns. YC is seeking few, but with HUGE returns.
Pay attention also, that ycombinator itself is in the 'right, but not inventive' camp. It's like 'selling investing advices', while in the same time, author makes money on sth completly different (advices :). BAD ADVICES, to be exact.
p.s. I'm also tired on romanticizing airbnb in literally 3 paragraph (search for airbeds if you missed it). This is a pattern.