It would be interesting if Y Combinator attempted to convert to an entity that was able to publicly list on a stock exchange and sell shares to the average investor - much like private equity shops Blackstone and Carlyle have done by going public.

https://www.wsws.org/en/articles/2007/06/blac-j25.html

http://www.carlyle.com/news-room/news-release-archive/carlyl...

If there is a bubble valuation in the public-to-private market, YC could potentially arbitrage the valuation difference into cash for its LPs.