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Everything just changed in the angel investing world.

Two years ago Yuri Milner, through his investment firm DST, disrupted the traditional Silicon Valley venture capital model when he began investing in the hottest startups – companies like Facebook, Zynga and Groupon – at very high valuations and extremely easy deal terms. He looks brilliant in hindsight, with all of his U.S. investments at significantly higher valuations since he invested.

Most top VC firms have begun emulating DST’s deal structure.

Now he’s partnering (as an individual, not as part of DST) with Ron Conway’s angel fund, SV Angel. And they’re making a bold investment move. This evening they’ve just made a blanket investment offer to every Y Combinator startup in the most recent batch. They’re going to invest in all of them. Every single one. And this is the biggest Y Combinator class to date – some 40 new startups.

They haven’t even seen most of the startups yet. This is a bet on the quality of Y Combinator startups in general.

All of the new Y Combinator entrepreneurs gathered at Y Combinator headquarters in Mountain View California on Friday evening to hear about the offer, They weren’t told why they were supposed to be there, just that something important was happening. The SV Angel team was there in person. Milner joined from Europe by video conference.

The terms? $150,000 in convertible debt. With no cap and no discount. If you’re an investor you know exactly what that means and you just shuddered a little. Those aren’t terms that most angels can’t match.

If you’re not an investor, here’s what it means. Yuri and SV Angel just offered to loan each company $150,000. That loan will convert if/when the company raises a proper angel or venture capital round at the same valuation that’s set in that round. Most convertible debt has a valuation ceiling and also gets a discount on conversion. This debt doesn’t.

It’s the most investor friendly investment that I can think of, short of just handing people money as a gift.

Each startup can choose to take the investment or not. If all 40 of the startups accept the loan then a total of $6 million will have been invested. And Milner/SV Angel say they intend to offer this for each Y Combinator startup in the future, too. That means Y Combinator entrepreneurs will not only get the $15k – $20k from Y Combinator during the first few months of their project, but they can look forward to another $150,000 a few months later. That’s usually enough to complete development and launch a product.

This is a huge win for Y Combinator, and cofounder Paul Graham seemed very pleased when we spoke by telephone this morning. He also says it’s a smart investment strategy. If only a couple of the startups have a large liquidity event it’s likely to be a good investment for Milner and SV Angel, he noted. “This is a hits driven business,” he said.

This also spreads incredible goodwill throughout the young entrepreneur community.

This also puts Y Combinator further ahead of competing early stage incubators/investors. Entrepreneurs now know they’ll be offered easy terms on $150,000 in capital just for being part of Y Combinator. That’s an incredible marketing advantage.

This is not such a big win for other angel investors, who are still struggling with business models and rising valuations. They tend to mob Y Combinator startups generally. And now they’ve got to deal with startups that don’t need cash as desperately, and who already have Milner and SV Angel as investors. That’s two more steps behind than they were before.

SV Angel says that this is a separate process from their normal investing. They’ll invest additional sums in some of the Y Combinator startups just as they always have. They’ve already invested in two from this batch so far, says SV Angel Managing Partner David Lee, and it’s extremely early in the process.

Blekko, the search engine that is fighting the good fight against web spam with human editors, is joining biggies Google and Bing in the mobile search arena today with an Android and iPhone application double whammy. Says Blekko CEO Rich Skrenta, “In a world where people want the most relevant answers on the go, mobile search is becoming increasingly more significant.”

The app has a sparse interface which allows you to view search results whether or not you are logged in with your Blekko account. With the exception of Facebook integration, the app pretty much runs the gamut of features found on Blekko itself, most notably the ability to search by /slashtag or curated topic. Results are sorted by most relevant and by date.

The app also offers suggested slashtags for each search at the top when you scroll down on a search. For Blekko power users, an interface with the buried treasure features of “Mark as Spam””View SEO info””Add to Slashtags” and “Open in Safari” can be accessed by clicking on the arrow next to each individual result in your search and then clicking on box/arrow icon the bottom right corner to reveal further options (see the image on the right, above).

Blekko, which boasts more than 100,000 slashtags created after its launch in November, has raised $24 million from VC superstars like Ron Conway, Mike Maples, Jeff Clavier and Marc Andreessen and most recently actual superstars like Ashton Kutcher.

As of today the app is free in the App Store and Android Market.

Ever wish Angry Birds had more poop in it? Well look no further than the App Store today, as Apps Genius has launched Angry Turds. As a monkey in Angry Turds, you get to battle evil island explorers who have stolen your monkey babies with various projectile weapons.

The concept is similar to Angry Birds as your objective is to throw stuff but the stuff here goes beyond rocks to coconuts, turds, banana bombs and grand poop-bas (I am so glad I never spent any money getting a journalism degree).

Angry Birds addicts will be happy to discover that the touch action of throwing objects is exactly the same as in Angry Birds except there’s no slingshot. The weapons themselves each have varying properties in terms of force and levels of destruction per throw.

What’s even more amazing than the fact that someone made this is that the App Store thinks that the word “turds” needs censorship (as in “Angry T*rds for iPhone”) but the word “poop” is as clean as the Pope himself.

For example:

“There is only one way to stop them, throw some t**ds! With your arsenal of t**ds, coconuts, poop bombs and bananas”

On why he chose this specific name and concept, Apps Genius CEO Adam Kotkin told us “People are into the whole poop thing. When you speak with a 12 year old you realize that they know more than the rest of us … It’s fun to throw poop around. Poop sells.”

Angry Turds is available in both free and $0.99 paid versions, with 10 levels and 30 levels respectively, in case you need to step your turd game up. You can download the app here.

I love asking companies if the timing of events is on purpose or purely coincidental. Not only do they almost always say that it’s purely coincidental, but they often try to claim that didn’t even realize a rival was also doing something when they made their plans. Sure.

Next week will feature another such situation. Earlier this week, News Corp. and Apple sent out press invites for an event to unveil the new iPad-only app, The Daily. And then this evening, we’ve just received an invite to a Google event to show off the latest version of Android, Honeycomb. The one meant for tablets. And guess what? They’re on the same day.

Sure, the events are on different sides of the country (though word is that News Corp./Apple had originally wanted to host their’s in the Bay Area too). And as such, the iPad event will be slightly earlier than the Android event (8 AM PT versus 10 AM PT). That doesn’t matter. The key is that controlling the news that day will be paramount for both sides. And Android just press-blocked the iPad.

The events are timed and situated in such a way that it would be absolutely impossible for a journalist with invites to each event to go to both. And while Google is being nice enough to host a live stream on YouTube (something which News Corp./Apple will almost for sure not do), it will still be a pain to extensively cover both. You’ll basically have to choose.

Normally, it would be all iPad next Wednesday. Now it’s likely to be more Android-controlled. And don’t think there’s nothing to the fact that Google is showing off a “taste” of Android shortly before the iPad 2 is expected to be unveiled.

War.