Then I'm worried about you...
Read Lean Startup and BUILD out an MVP on your own. That's all this guy is doing -- doing it yourself will mean you don't have to give up ANYTHING.
I'm more than willing to trade a portion of the potential income for a whole community interested in my project's success. And since I would also own a fraction of every other project, if my own idea fails down the road I can simply leave it on hold and help the more promissing ones; it reduces risk not only for the investors, but also for the small guys.
For some people that's the right choice, for others it's not. By that logic, someone should also ignore YC, etc. It's a choice every founder has.... different strokes, etc.