The docs he linked to are the Series AA docs we commissioned for YC alumni to use to when raising money from later stage investors. They're not the docs YC itself uses.
In our agreement the clause about change of control is more limited. We only have a veto over selling the company for less than 3x the valuation we invest at. The point of that kind of clause is not to ensure returns (on average, a 3x exit would make us the massive sum of $35k) but to prevent abuse-- e.g. someone selling the company to his brother for $1. Any subscription agreement will have at least that kind of restriction in it.
In our agreement the clause about change of control is more limited. We only have a veto over selling the company for less than 3x the valuation we invest at. The point of that kind of clause is not to ensure returns (on average, a 3x exit would make us the massive sum of $35k) but to prevent abuse-- e.g. someone selling the company to his brother for $1. Any subscription agreement will have at least that kind of restriction in it.