As someone who was critical at first of the way the situation was handled, I have to say that YC has been exemplary in their followup.
The response from all of the YC folks in the threads was respectful and empathetic, and didn't try to make excuses or shift the blame. They just took the heat and acted with honor.
I think we've just learned our first lesson from Startup School: how to handle a bad situation with grace, and recover well.
I am with you. I was really upset as I called my young cofounder to tell her we were in. I felt she needs this way more then me and when I got a reject letter it was a huge letdown.
Anyhow, they offered good save, it will not be easy for them, and they came up with that quickly, before this blew up more.
I think they handled this way better then many CEO's handle their company firedrills.
The response from all of the YC folks in the threads was respectful and empathetic, and didn't try to make excuses or shift the blame. They just took the heat and acted with honor.
I think we've just learned our first lesson from Startup School: how to handle a bad situation with grace, and recover well.