Well you'd expect such a reply from Paul right? He benefits from the lofty valuations when any of the YC incubated companies get bought. So no surprises here.
Right, it would be insane for him to ever publicly communicate any possibility of a bubble, since it would certainly get picked up by the tech press, and potentially cause direct material harm to his interests.
Not that I think Paul is that calculating, but if YC were a public company, it might even be illegal per fiduciary responsibility.
Its also an "away-from" strategy. Imagine you were a hard-hitting tech founder like Paul Graham and there was even a possibility there was a bubble? Everyone knows bubbles can be painful and should be avoided intelligently at all costs.
The right man in the right situation turns "calling a bubble" into a move to focus and motivate. Instead of trying to hide an impending bubble, you are creating the resources necessary to do something that will eventually win mind-share.
Knowing how to generate multiple revenue streams with a fixed engineering cost is a good start.
