So they are much like a "virtual VC"? But you do understand that VCs have value because they bring "unfair advantage" or "connections" or "good advice & experience"? FundersClub has to think of two sides of the problem - how to shield large number of inexperienced investors from the founders and how to provide network, unfair advantage and smart advice to the founders.

One of the biggest values of YC is the second part. Replicating this is going to be difficult.