Do you really need $5k to bootstrap a business?

So that begs the question (sorry, couldn't resist the reddit flamebait :), can launching a site be done for less than $5k (assuming development and design costs are not included). The question comes from http://news.ycombinator.com/item?id=594363.

I'm in the process of building an iPhone app with an online presence. The iPhone app does data gathering; the web site does visualization of the data.

I'm bootstrapping this at the moment and, frankly, don't have much in the pocketbook to apply. Is it possible to bootstrap something for an order of magnitude less?