The idea, as I understand it, is to aggregate and tag blog posts about startup management from all around the web and curate them into a community site focused on educating entrepreneurs on how to be better leaders and managers of their companies. William will also create original content on the site. He describes it as a "Huffington Post" model.
There is certainly a need for this kind of thing. If you want to learn about term sheets, you can go to Brad Feld's blog and click on the "term sheet" category, but you would have had to know to go to Brad Feld's blog. If you want to read my stuff on employee equity, you would have to go to AVC, click on MBA Mondays, and then into the table of contents and scroll down to find it.
Obiously Google crawls all of this content and can find it for you if you poke around hard enough, but the idea of curating all the content that entrepreneurs, VCs, and others who work in the startup sector have written on the topic of startup management is a really good one.
I hope William succeeds with this effort and I am rooting for him.