Many of you already know about YCombinator and how they work. In case you don't, they are a venture capital fund that specializes in early stage startups. Basically, come up with a solid idea and we'll give you some money and a lot of advice to give it a try.

They recently posted 4 RFSes (Requests For Startups) they want to see addressed for their Winter 2010 round of financing. I believe this is just a way for YCombinator to express what markets and ideas they see have potential and want to find out what entrepreneurs can create on their own. The deadline is Oct., 28th(tomorrow)...so you have 24 hours to think about these ideas, decide which one you want to tackle and submit your application to YCombinator.

Here is a summary of each RFSes:

RFS 1: The Future of Journalism - Basically, what idea is going to save journalism from it's current state? Can you change the game in journalism? Think about content and how to make money from it.
RFS 2: New Paths Through Product Space - They seem to be looking for a new way to aggregate catalog items from manufacturers and catalog companies. This is a huge space with an fairly straight forward business model. You just have to figure out a way to drive traffic, sell product better than the companies can and get your piece of the profit pie.
RFS 3: Things Built on Twitter - This is fairly straigtforward. There are plenty of apps built off the twitter concept. Build a new website using the power of twitter and the twitter community. Think 140 characters with a new twist on twitter.
RFS 4: New Ways to Use Live Video - Everyone knows TV is so last millenium and the way people are entertained is changing rapidly. YCombinator wants some ideas on how to use the Justin.tv API to change the way LIVE video is distributed and watched on a massive scale. We're not talking YouTube here. We're talking broadcasting live events like sports, concerts, interviews, debates, etc.

I have some ideas on these topics. Some I've already thought about at length...but I want to hear your ideas. What would you pitch to answer their RFSes? If you aren't going to apply or build it yourself, I want to hear your thoughts. You never know, it may inspire someone else to build it.