One of YC's innovations is to use the founders themselves to do technical due diligence on their own idea.
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But if you can tell both (a) if founders are domain experts and (b) if they're telling the truth, you can use them to vet the idea.
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And while I would not have guessed it, with sufficient practice you can do this in a 10 minute conversation.
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This is not only more efficient, but is the only strategy that works as ideas spread beyond pure tech. Who could you ask to vet Airbnb?
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If Airbnb founders were domain experts in the accommodation business, they would most likely never have started Airbnb in the first place.
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Do you see value in this exercise with life sciences startups? Eg peer review of deals? We do his
@FundRx and it's pretty valuable -
Great question, thinking life science founders would be against this in light of their idea being shared around pre-publication?
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Think maintaining confidentiality is key. We sign CDAs with almost all the life sci startups we look at and experts have to be covered too
End of conversation
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A VC once sent our idea to a YC alum to be vetted. Does that count?
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And worst of all, sometimes those experts are your competitors!
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What are examples of some of these outside experts?
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They do, just witnessed it with a startup I advise.
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