To be frank, you can use it to run a business outside of the Valley for double or quadruple the time. At that amount, you can't really afford to hire (doubly so in SF), so who cares if you have access to the "talent pool" (but we all can work remote now, so, hey).

It's less about a single $10k check. I think a better way to think about it is: what could you do if you get 10-20 angels to each give you a $10k-$50k check (for a total of $400k or something like that). Then you'd have enough capital for a few people to work full time for a year, plus you'd have 10-20 individuals who are eager to help you in different ways.

What does the startup give up to get the $10k check? 1% equity or something?

Closer to 0.1-0.2 percent. Maybe a little more if it's very very early.

If you have the opportunity to get help from lpolovets, you should jump at the chance at any minimum. What does $10k or $25k get you in the Valley... not a lot. But if you keep expenses low and have support from great people like lpolovets, suddenly you have a lot more than when you stated.