I know this whole situation has pissed some people off. But what's sort of hilarious is that until today I had no clue (or I just forgot) that Garry and maybe Sachin went to Stanford. That part of the job posting, as interpreted by many of the people here, felt like reading a torture manual by the Dalai Lama - it just isn't their style at all.
Regarding college: I know Sachin sold computers and had a hell of a time dealing with Paypal as a fledgling entrepreneur and Garry...umm Garry was in chess club? I don't know - college discussions just didn't come up much.
The Posterous guys certainly don't "act" (and by act I mean the generalizations spelled out in these comments) like they went to one of those schools, let alone "elitist". Besides, most of the time when we hung out, they were more interested in talking about ideas or learning about my boring Ohio background.
So if you're hesitant to apply because of this situation, don't be. And if you do not want to take my word for it, I'd be more than happy to email you a list of references of my friends & family that have dealt with Garry and/or Sachin including my parents and a girl friend in Chicago that had problems setting up her Posterous. Or just ask Livingston - she loooves Garry.
As always dan at the domain for ticketstumbler.