I don't know if it's about Yahoo -- I really do not have a clue what the "y" stands for, but I could not think more highly of yCombinator and its approach to the frugal development of concepts into something that can be demo'd and tried by customers. I think that Paul Graham's yCombinator is something that approaches true genius ... an idea that is bigger in terms of economic consequence than almost every Economics Nobel prize-winning idea that I can think of ... Coase's work on transaction costs is pretty big, but a lot of the others ... well, not so much.
The most sincere form of imitation is flattery ... or maybe it's the other way around ... but the "e" in eCombinator.com is for engineering, economics, environment, electricity and entertainment ... it's basically about transdisciplinary combinating of great work in different disciplines for solving these different "hard" (i.e. physical) esomething problems.