[gmarx]

People continue to apply to Harvard. The problem YC has will be similar. At some point the thing changes from being a thing that improves its students to a credential or at least a marker. Once you make that transition, smaller size is needed to maintain the perceived value of the marker

[danieltillett]

Harvard has an self-described problem where a large percentage of the students they would admit don't apply (particular those from low income backgrounds) because they think they won't get in. Sure YC will keep its pipeline full, but if it is worried about getting the best then it needs to adjust what it is doing.