1
You
...are a senior coder that is working in a company setting right now but who has a good idea about a new product and is willing and able to develop it.
...would be free to develop any product you like - as long as it is related to your coding and will create first revenues in the first 18 months
... would be paid 80k for all your expenses. You could work from home or anywhere you like. But you will have to quit your current job. No safety net.
... would give up about 10-20% of your project/product to the investor.
... would be an active part of a community, being able to share and discuss your projects with other coders and with experts in marketing, product design etc.
I am evaluating this scenario for a VC. Some of the ideas sound similar to YC. But we are geographically independent and do not focus on the SF area at all.