That was something that stood out for me in Alexis' statement. At a $30 billion market cap, that's $10m per employee. I think that number alone is enough to indicate that YC isn't creating jobs as much as it is deriving value from software killing jobs. (They'd phrase it better, but any software making things easier, faster, etc will require less brainpower/ employees.) The counter to this is either talk about the bubble making all valuations ridiculous, or that these companies are currently pretty small; If they grow to create or lead new industries, jobs will likely be created, and market-cap-per-employee numbers fall.