I seriously don't get this. 20k for equity? You could loan 20,000 and still pay it back at a modest interest rate.

What could you possibly do with 20,000? Buy Adwords? Hire someone for 3 months? Does it lead to more people investing?

Looks like they are just spraying 20k across the board in hopes to find something that sticks.

You could easily get $20,000 to invest by working or even asking your family or friends. Then you would have a far better chance of raising money with a viable business that you won't have to get into bed with someone looking for hockey stick growth that ultimately kills startups.