Yeah, yeah Matt... YC is the YC of the East, West, Earth, and Universe. I think it's hard for the press to describe this new model because it's not an incubator and it's not venture capital, and "seed stage mentorship with little capital" is hard to describe.
So since YC helped create it, they're the easiest approximation. In fact, it's flattering.
My geography grades were never that great, but it does look like Launchbox could really give Y Combinator some competition for that title seeing as it's already leading the race to be the furthest east.
Wait, I'm no geography professor, but where is Boston? I thought Y Combinator was the Y Combinator of the East.