bjnortier

For number 1, I recommend you read this blog post: http://unqualified-reservations.blogspot.com/2009/07/wolfram... - especially if you're considering using the type of interface that Siri has.

"The task of "guess the application I want to use" is actually not even in the domain of artificial intelligence. AI is normally defined by the human standard. To work properly as a control interface, Wolfram's guessing algorithm actually requires divine intelligence. It is not sufficient for it to just think. It must actually read the user's mind. God can do this, but software can't."

The Application Form link (http://news.ycombinator.com/apply) still results in:

"Sorry, but applications for summer 2009 are now closed. Check back in a few months for the application form for winter 2010."

Well, if they only have an idea, and they're not bringing any money to the table, then I would refer to the following from the 37 Signals book "Getting Real" (free to read online)

http://gettingreal.37signals.com/ch06_Done.php

Be An Executioner

It's so funny when I hear people being so protective of ideas. (People who want me to sign an nda to tell me the simplest idea.)

To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.

Explanation:

    * Awful idea = -1
    * Weak idea = 1
    * So-so idea = 5
    * Good idea = 10
    * Great idea = 15
    * Brilliant idea = 20

    * No execution = $1
    * Weak execution = $1000
    * So-so execution = $10,000
    * Good execution = $100,000
    * Great execution = $1,000,000
    * Brilliant execution = $10,000,000 

The most brilliant idea, with no execution, is worth $20. The most brilliant idea takes great execution to be worth $20,000,000.

That's why I don't want to hear people's ideas. I'm not interested until I see their execution. —Derek Sivers, president and programmer, CD Baby and HostBaby

Interesting. If I were in your position I would consider - How much effort I've put into the project (in income opportunity cost) - The capital they are bringing to the new company. Or, how much capital they are the capable of bringing in with their contacts.

I would base determining whether 10% amounts to a fair price on that.

If the site is simple enough to implement, I would also consider how much it would cost them to get someone else to do it. I.e. if I demand 50%, they might say "Thanks, but not thanks. we'll just pay someone else to write this for us.".

10% of something is better than 100% of nothing, but you don't want to be taken advantage of...