I can't say that I've quit my job, but Paul Graham does make some interesting points. The question that is stuck in my head is "what should I do if I have an idea for a Web service, but have no technical 'know-how?'" Is it worth approaching YCombinator?
Simply put, no.
Start ups are about work, not ideas. Ideas flow freely with some people (like me) that just have about one idea per day worth implementation.
The skill to bring a product to life is the critical part.
Still, since you shouldn't drop the idea of starting a start up, you should either find someone with the technical know how (track down my email and email me for help in that) or go for an idea where you can contribute 100%.
Just my opinion, of course, though I highly doubt anyone would disagree (yes, this is a challenge).
Aur Saraf