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Same here. I already left my job a few months ago to work on my project, but my cofounder is still employed at his. We were moving along great and decided to apply for YC the day before the app was due. Why? Well, seriously because it just sounded like fun. We are doing our project regardless, but to be involved in a fun team like what we imagine the YC SFP will be, just sounds like a blast. Sure we'll be working our tails off, but we're doing that now anyways. If we get accepted we'll have the network of the other SFP founders which is priceless. Really, it can be challenging to find other hackers that are fun, not jaded, smart, and humble enough to actively seek feedback and correction. Not that all the SFP founders will necessarily fall into that category, but probably most of them will if Paul and Jessica are vetting them.

For more on the money aspect of the decision - see my post on 'Outside Money and Irritable Bowel Syndrome' at http://blog.nanobeepers.com

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