Because people are interested and want to find out the truth? At the moment it's a he-said-she-said situation, with each side posting their own (probably biased) version of events.

The technical work that a lot of us are involved in is deeply intertwined with the venture capital business. This is a glimpse of how things operate inside of that business.

Posting the exact text would be sort of the opposite of gossiping. And it is somewhat important because of the possibility of ycombinator unjustly punishing someone(the other possibility being that ycombinator did nothing wrong and this tweeter just burned his reputation). The beauty of the internet and message boards is that if you don't want to take part in the conversation, you can just leave the page.

From the HN guidelines: “Please don't complain that a submission is inappropriate. If a story is spam or off-topic, flag it.”