Sillicon Valley investors are interested in funding markets being non-efficient. They are not interested in making themselves a commodity.

Commoditize your complements: make startups commodities but preserve early stage funding a non-commodity.

I wrote about this years ago when pg gave a talk about opportunities to make markets efficient:

http://news.ycombinator.com/item?id=1655800

I guess FundersClub makes some kind of 'secondary investors' a commodity while preserving Sillicon Valley investors 'primary investors'. Also funding at FundersClub seems to be not in the very-early-stage, so the funders are already not competitors to Y-Combinator.