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I imagine they will closely align to YCs standard deal ($120k for 7%)

Yeah seems like an important point to gloss over.

I'd imagine that it's different for each incubated project/startup

Couldn’t it depend on the ’startup’ situation?

It sounds like it's negotiable.

I bet they pull a Lightbank and let the founder almost have some upside.

"Almost" meaning they actually don't get any?

I imagine this means taking equity but not voting power.

You don’t make a startup for the money you do it to change the world!

Good luck with that. I'm sure investors will definitely be very supportive....