Earlier quoted context omitted.
agreed, investors reading something is no big deal, since they aren't going to go out and use your ideas. A possible competitor reading it is a whole other story all together.
Actually it's really not. At justin.tv we already have a list as long as my arm of great ideas that we don't have time to implement. Seeing a few more great ideas from a potential competitor wouldn't make much difference to us in my opinion.
But the things asked in the application make you get pretty specific. Most people have trouble doing that for investors, let alone potential competitors.
+ it's not like they were told this before hand. They wrote the applications, thinking that pg and his team would review them.