I'd agree with this. YC is a wonderful program for both startups and entrepreneurs, PG is a godsend for these groups, especially in past years when seed funding was harder to come by. However, a lot of the hype now around YC often pushes entrepreneurs to raise way larger seed rounds than they need or know what to do with. This is of course not always the case, and I can think of several YC companies off the top of my head that did not go this route (even when there was investor demand for it), but on balance, YC seems to encourage founders to raise way more capital than these companies need in the early stages. Again, I think entrepreneurs are now waking up to some of the negative consequences that can result.