The title of this article is on pitch to me. PG's comment does not come across as a "calling out." It comes across as a general conclusion based upon his experience and data.

On the other hand Zacharias's blog describes observing and responding to feelings that there was a disconnect between the funding features available to his YC class and his entrepreneurial gut.

As a "pre-cofounder" (I love the term) he was in a position to take a different course. He also enjoyed the advantage of friendships with potential investors.

I can't help but see what he describes as extending some of the fundamental YC processes beyond the point where YC kicks the baby birds out of the nest. YC works because of the trust founders place in the partners. It works because founders don't worry about the investor screwing them over, and it works because founders can spend more energy building rather than negotiating terms.

This appears to be what Zacharias did. He was careful about who he sold his company to and conscientious about the price of shares which are likely to be worthless.

It was a personal strategy - right for Zacharias. PG is right that it is poor as a general strategy for YC companies.