From firsthand observation of YC since 2011, YC doesn't suffer from most of the (legitimate) gripes you point out. I also have a pretty high opinion of 500 Sta

From firsthand observation of YC since 2011, YC doesn't suffer from most of the (legitimate) gripes you point out. I also have a pretty high opinion of 500 Startups as an outsider. It seems like 500 goes for singles and doubles more than YC does, and ranges farther afield in trying to get new applicants from underserved areas (although YC has stepped up on this in the past 9 months). I don't have as much data about 500 Startups, but I'd probably say it's a net-accretive thing for participants and a solid #2. Every other choice I would very closely judge before participating. The problem is most of the people entering are in the least capable position to judge the value of a specific program. Apply to YC -- Summer 2014 apps close in a couple weeks.