I find statistics about this really inspiring. Even if YC only funds 3% if the volume keeps growing that is a good sign. Combined with the previous discussion on China which pointed out that growing an economy by infusing cash alone doesn't give you the results of long term growth, only innovation does, makes me optimistic.

Sure there will be a lot of hopelessly naive applications, can't be avoided really, but there could be some real ground breakers as well.