Perhaps they have refined their business down to the essential core which is to back large numbers of entrepreneurs in the hope they don't miss one that gets big. Like 500 startups. Hard to believe that backing large numbers of companies can be much more than betting on lots of horses.
They aren't backing any of these companies financially. It is hard to tell what is in it for them yet. The only way this makes sense is if it is a pre-filter for their application funnel to increase the quality of their selections. Contrary to this, they originally claimed that startup school would not give you any leg up in the application process.
