I think he's right, for the most part. It's also interesting that a lot of these startups end up with "successful" exits where their technology isn't used at all (ie talent acquisition for FB/Goog, etc). I don't know if there should be a correction for that, but I sometimes feel that it leads to people building for the sake of building until they get acquired.

Interestingly, we (http://feefighters.com) had 2 of our 4 interns leave us in the past week because they got accepted to YC (2 different projects). I guess we should feel good because we're picking smart people who want to work for us, but we'd rather have them with us!