However, Techstars always had an adverse selection problem : the best companies usually prefer to join YC.
Well, yes, this is exactly what someone who sells this kind of service would say. Where is the skill, though? Just spray and pray. Eliminating survivorship bias, is it actually successful, on average? Can it beat the S&P?
The upside is certainly not unlimited, and you can lose all of your money before you find a big winner.
>the best companies usually prefer to join YC.
If they are already the best companies, what does YC add? Besides, most of the best companies don't join any incubator.
100's of competing accelerators popped up but none could match these results : https://www.ycombinator.com/topcompanies/