Parakey got in, and their problem set sounded really big...but I didn't understand what they were talking about most of the time, so I may have misunderstood. They also had a leg up, by being Blake Fucking Ross and Joe Fucking Hewitt.
Versionate is a big project, but they were well-started by the time of application.
Octopart is a big project. They faked it until they made it, and did so beautifully (their presentation was among the best on Demo Day for WFP07).
Loopt is a big set of problems, most of them non-technical, and pg considers it the best thing out of YC to date (and I see why...Sam's kicking ass).
Zenter was hard. But they broke the rules and pretended like it was easy and actually produced something that mostly worked in a few months.
So, yeah, while the majority of YC companies are pretty small ideas that can be executed by a very small team, many success stories (or success stories in the making) out of YC have been big ideas.
What I expect to do first: Apply to YC
For some reason, I'm having some trouble with some of the steps in between. (grin)
Dang! That sounds great! I think I'll call the puppet Bob. Man, I'm almost there.
"By the way, can we make it 4.0? 3.0 is so 1999"
-Anonymous VC
I remember shopping for capital in '99, and we had quite a few problems getting VCs interested because we weren't asking for enough money, had a CEO who actually had 20 years C-level experience and a name that didn't start with the letter e.
About 2 years after we shuttered and sold off most of the code to various people, EMC implemented something very similar and made a few hundred million dollars off of it :/
We're seeing the beginning of "retail startups", where we can spit them out like six packs of Coke, fund them, get them bought up by Amazon or whomever. The industry really wanted to get to this point in '99. They've made a lot of progress since then.
(I'd vote for whoever is the first to do it and post it on news.yc!)