sjbp
So they would have to invest their pennies :)
On another note, there's something about a disparity on ownership and %founders that seems more profound than the salary IMO (with the caveat that it is hard to study this controlling for the right things).
One useful counterfactual is thinking about what our comments would be if Sam said "more YC company should raise money immediately after the program". I think it would be very hard to defend that every (most?) startup is ready for such a commitment at that very specific moment in time.
It will be very interesting to see how this dynamic evolves over time.
Also, some actual benchmarking would be great. Say, against Facebook's Prophet (which also deals with covariates and holiday effects).
[0]: www.singhalfoundation.org/about