Possibly? IANAL, but you probably aren't going to be a target until you are big enough to afford to have these done properly. Worst case they ask you to take it down, unlikely the company could demonstrate a loss, maybe the lawyers?
That being said, much of the language is pretty common across TOS and such, especially when you narrow to a particular niche
Also know that the lawyers aren't writing these from scratch every time, they have templates they share within their firm so many companies are getting standard boilerplate anyhow
If the startup cannot afford to pay an attorney, the startup is under-capitalized.
Under-capitalization is a reason to question the startup's viability and by extension the urgency of legal documents that are designed to protect ongoing businesses.
Or to put it another way, if the startup can't pay for an attorney, terms of use and privacy policies are not urgent and are of only slight importance. Because they only help when a lawyer is arguing in court.
The simplest privacy policy that might work is not collecting private information. The simplest terms of use is make something that provides a clear exchange of value such as money for services.
The TL;DR, I had an excellent attorney friend (who, cherry on the quake, has a CS degree and understands APIs very well) write all of it for us. All in all, it was sub $5K and I had some very specific wording/requirements around privacy which took a lot of work. I think a regular law-firm would have charged 10X this, maybe more.
If your product is simple (Saas), a cheap attorney should be able to loosely model something that works based on other example companies out there. Maybe have a more experience counsel also take a second look ("second opinion").
