> But that's always true, and the most valuable cases are those that work when most people don't expect them to. http://paulgraham.com/swan.html

If they are looking for swans that work when people don't expect them to, they should probably be looking for those swans somewhere else*, not the top 3% of an incubator that probably graduates proportionately more successful startups than any university.

The issue that everyone is calling out here is that they name themselves "Rebel" when they're doing exactly the same thing that every other VC firm is, but (apparently) not even as well -- at least they should say "Founder Friendly", etc.

* Generally startups that might become unexpected swans will be found outside of startup hubs like silicon valley.