The data behind the 'YC has peaked' hot take
A new NBER working paper tracking nearly 750,000 US startups across 329 accelerators finds 60-80% of programs leave companies worse off than if they'd never joined, while a tiny tail (YC, Techstars) creates outsized gains. Even YC's estimated value-add fell sharply by 2022. The takeaway: treat a prestige accelerator as a bet, not a guarantee.