Actually no, One of the primary factors that makes me say this is that Google got over $12million for only a 10% stake in the company from Sequoia Capital. I

Actually no, One of the primary factors that makes me say this is that Google got over $12million for only a 10% stake in the company from Sequoia Capital. I learned about this after we had already applied. If PG would have asked us for an interview and invited us, I (personally) would have rejected the offer if their stake was to be more than say 2%. YC is asking for a huge chunk for slight benefits. Its not tongue-in-cheek, its strictly good business.