Maybe because I'm a little older I'm confused on this one Paul. Why so much competition for 20k? Why are young founders racing to give away up to 10% of their b

Maybe because I'm a little older I'm confused on this one Paul. Why so much competition for 20k? Why are young founders racing to give away up to 10% of their business for such a small amount of capital? I can see the value of the YC network and that's worth a lot to me right now. But rent and fast food money for 3 months seems a little low of a reward on "winning" applications. Is the success rate of YC founders low? (success measured as sustainable/viable business in 5 years or a liquidity event)