Here's how I'd refactor the process: - CEO records a 20 min walkthrough of their pitch, along w/answers to top ~10 FAQs - when an investor wants to do a 1st meeting, they watch this video first - after the video, investor passes w/their reasoning or sets up an actual meetinghttps://twitter.com/peterpham/status/1007064402351271937 …
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I was skeptical the first time YC did investor day -- 15 min meetings seemed too short -- but I've grown to really like it. It saves so much coordination time when 100 founders and 500 investors all want to meet each other this week.
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YC demo day is the best artifact we have of VC as a marketplace for distributing capital efficiently in its most primal financial sense
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I read your tweet a few times and am not sure I fully understand it. Can you elaborate?
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I think VC is actually a variation of a marketplace business (with LPs as supply, company as demand). It plays out differently in practice but at demo day, it's mostly fundable companies with funds, together in a room, making quick decisions
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Ah. Things definitely move faster, but demo days adds new inefficiencies, like not enough time for real diligence or relationship building (which can lead to suboptimal decisions on both sides).
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I think it's the idea of all of these people being in the same room at the same time that makes it cool to me. I hope to see it one day on my trip for religious salvation
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Ya coordination is killer, especially now that everyone is spread out between PA and various parts of SF. Not to mention the intro -> response -> follow up with my assistant -> schedule email loop it takes to set stuff up in the first place
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one of the main reasons I'm pushing for horse and buggy mail to come back
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