The competitive aspect of demo day and investing in YC companies drives prices up. Investors are trying to maximize returns and some may feel these prices are not justified or that their capital can be put to better use investing in a company with similar results and a lower price tag. I do think this can be a mistake because the resources a YC company has at their disposal can increase their odds of success and create opportunities other companies will struggle to secure. I know that we have had more opportunities because of our YC status and that has made our company more valuable.