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> They are so confident in their power that they have recently instituted new funding terms that crowd out seed investors (their partners of yesteryear).

This quote is hilarious and actually proves that YC is moving farther from a monopoly than to one. YC had to make their funding terms much more competitive (better for founders) because of the insanely increasing competition and the flood of capital into VC.

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The MFN clause can’t be considered more competitive against other seed and angel investors.

It is clearly making their next fundraise MORE complex for founders.

I'm not sure that it necessarily does. They're giving founders money today at tomorrow's valuation. Having that extra runway can extend the time before founders need to raise again which should result in a higher value, which actually turns into a lower return for YC. It also means less money they need to raise so they can get back to building their business sooner instead of fundraising.

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