I actually proposed that (1% of startup equity in exchange for being able to ask questions and come to the YC dinners) when I got rejected from SFP2005. They ignored me.

I suspect the problem is that time is their scarcest resource, not money. They want to spend their time mentoring the startups with the greatest chance of success. Until you reach the point where you have a reasonable chance of success, you're stuck with YC News.

Very Darwinian...but if anything else getting rejected should be seen in a positive light. As a time to get to know your users and build something that they will find useful. Just like in PG's essays.

You'd be surprised at the kind of basic feedback you can get when you just tell someone your idea. I've heard that PG will respond to emails of this type. I got feedback from Dharmesh Shaw when I told him my idea.

In biotech, I emailed Joerg Poetzsch to ask a question about early stage funding. I got a lengthy response from him. Then, I told him my idea and we've had a wonderful exchange since then -- he ended up writing me a letter of recommendation and said he is interested in selling my product for a percentage of the revenue he generates.

So, if you want basic feedback about your idea, email someone with a blog or website and I promise you can get some feedback. If someone takes 1% of your company for that, you're getting ripped off.