Asked 70% of the company for their investment. He was not actually a professional investor but a business man.
@o.h.w.6638
Жыл бұрын
I love that we have all our hardware ready and investors first respond is “why don’t you completely change your entire strategy!” 😂
@Anon48657
Жыл бұрын
simply VC made up his mind before the meeting and was not interested. Totally fine, but than just decline the meeting before. Worst meeting ever because tine waste from both sides. the same investor also rescheduled the call 10x haha
@KirillZubovsky
Жыл бұрын
An investor started the meeting by asking me what my top-3 picks from my batch were, and if I thought Zapier was any good ... I don't think it lasted very long. His big mahogany desk and lack of lights in the space was kind of disturbing.
@Islandvybz96
Жыл бұрын
@ 20:00 it’s not an inappropriate question to ask imo, founders who are couples, typically husband and wife founders tend to have more chemistry but have low success rates.
@CyY-vo3nb
2 ай бұрын
She came across as an unserious person to me.
@jsfnnyc
Жыл бұрын
Talk to customers 1000x more than to investors.
@ycombinator
Жыл бұрын
Bingo
@george_davituri
Жыл бұрын
yep, and investors will find you on it's own
@hassansabra9392
Жыл бұрын
For the founder of Algolia, i think it's kind of normal to ask whether the co founders are dating. Because it might be that their assumption was out of goodwill, and in that investors experience, power couples start and grow startups together.
@RA-xx4mz
Жыл бұрын
It makes sense to ask if founders are in a relationship. 🤷♀️
@cherubin7th
Жыл бұрын
Yes, what if they break up and the business dies because of that.
@novigod
Жыл бұрын
Agree!
@AkireMaru
Жыл бұрын
Absolutely. And by her answer to the question…they maybe were dating. Obviously heterosexual male/female cofounder teams will get this question more. But our society is so uptight you can’t ask any real questions…
@mysportisyourpunishment73188
Жыл бұрын
Exactly 💯
@kade00
11 ай бұрын
Not in the first meeting, definitely not as a first question. Female founders already have to go thru a lot, being auto marked as ‘the CXO’s girlfriend’ isn’t good
@tajtahmeena8635
Жыл бұрын
the investor is literally putting money into your company, its not inappropriate or out of line to ask if the founders of the company are dating or not, for example they could break up and it would negatively effect the company's future. there are too many potential downsides if founders are romantically involved.
@brian.webster
9 ай бұрын
You are correct, but it's weird for that to be one of the first 5 questions. That's more early-stage due-diligence or end-of-first-meeting "Hey just so that there are no surprises, we want to make sure that we understand the cofounder dynamics..."
@daveb4446
Жыл бұрын
Believe it or not, these are my favorite videos. It’s way better to know about awkward situations up front instead of sugar coating and overlooking it
@GatlingNG
Жыл бұрын
Asking whether the co-founder or co-board member are dating or romantically involved is not unprofessional. It is important for governance purposes.
@honor9lite1337
Жыл бұрын
Hmmm 🤔
@dizparkash
Жыл бұрын
Absolutely agree. Very important to ensure decision making can be as secure and proficient as possible.
@derschutz4737
Жыл бұрын
Yeah, very weird that she thought that was too personal.
@k3fernan
Жыл бұрын
Only if they ask every set of co-founders, not just women + men pairs.
@SecretCollage
Жыл бұрын
Also, many good business are founded by couples.
@chapterme
Жыл бұрын
Chapters (Powered by ChapterMe) - 00:00 - Coming Up 00:13 - The Worst Investor Meetings Ever 00:37 - Keeping Founders Waiting 02:23 - Status Games 02:51 - Investors Process Is Their Products 05:16 - Advice For YC Founders: Believe The No But Not the Why 05:31 - A Grade Investor 05:49 - Advice Summary 06:37 - Investors Leverage Before and After YC 07:46 - Have A Game Plan 11:31 - Who Is A Good Investor? 13:53 - Investor Updates 14:34 - Investor Known For Testing Founders 16:09 - Investor Meeting Is A Two-Way Street 16:44 - Who Is The CEO? 18:15 - You Should Know Who You Are Meeting With 18:51 - Awkward Question Crossing Personal Line 20:13 - Good Investor 20:58 - Worst Investor Meeting: Why You Are Doing A Company Anymore 22:36 - Being Professional 23:53 - Being Smart vs Adjusting Pitch Based On Investor Feedback 25:27 - Outro: Point Of Your Startup
@padeosarran
Жыл бұрын
When you ask for advice you get money 😂😂😂 - Brad Flora, YC Partner
@thefocuschic3234
Жыл бұрын
I love Michael's reactions to the first story 😆
@lexesco
Жыл бұрын
Its Softbank
@thefocuschic3234
Жыл бұрын
@@lexesco really?
@jonjeskie5234
Жыл бұрын
@@lexescono he said in London? 🤔
@pranavsjoshi
5 ай бұрын
Can you make a video on what not to do when pitching ? Pitching horror stories.
@soyunkim5380
Жыл бұрын
Embracing difference is hard work. They did it. Thank you all - as an online volunteer ( I don't like Word, bot )
@ashrahman_
Жыл бұрын
One thing I really don't like about many accelerators and incubators is they make founders feel like investors are some kind of demigods. Whereas this should be ideally investors reaching out to founders.
@mach1nefan
Жыл бұрын
You guys focus on software which is cool but what about hardware? I’d love to know more about that.
@Rami7605
7 ай бұрын
Yc focus is Saas.
@TheCainak
Жыл бұрын
had a couple of bad ones this month. I really needed this. Thnk you YC!!!!!
@jonbrown7962
Жыл бұрын
I had just come off an investor call this morning that didn’t end well, and this video just cut short the spiraling that was nearing. Great video.
@jonjeskie5234
Жыл бұрын
@@jonbrown7962I haven't pitched yet, what are you guys seeing out there?
@Geniusproduction
Ай бұрын
Some of this advice goes for great customers too, especially B2B.
@Withlindaandrews
Жыл бұрын
Love this. Thank you for shining the light!
@emmanuelben1393
Жыл бұрын
What if we are done building the product at that point and what we need to do is fundraise to continue growing. Shouldn't we focus on it?
@ahmedsabi5143
Жыл бұрын
Now this is a topic I rarely hear discussed...great listen!
@Vasectomyjohn
10 ай бұрын
Was the investor Adam Neumann?
@maximusandsenecagloballlc1209
Жыл бұрын
9:12:if you have money to fly, you should be able to use that travel fund to build your company
@aryanpolakhare6844
Жыл бұрын
Why are you guys so good at explaining😅
@breaktherules6035
Жыл бұрын
THANK YOU so much for sharing your advice!
@vanteworldinfinity
Жыл бұрын
Desperately need to figure out who the london investor was lol
@peterpaulliggayu
11 ай бұрын
Thanks for the valuable tips! Need these soon.
@chan90s
Жыл бұрын
Is there any website or forum where investor experiences are documented? Maybe I can create a reddit thread if there isn't one
@ycombinator
Жыл бұрын
Founders accepted to Y Combinator get a robust investor database with detailed reviews and ratings of most investors founders interact with.
@chan90s
Жыл бұрын
@@ycombinator ohh. Do you have any plans of making it public? I see that tons of founders waste their time shooting in the dark
@foggycraw6758
6 ай бұрын
I don't think they're going to make it public @@chan90s
@aavlasti
Жыл бұрын
Great tips in this video! And I don't see anything wrong about asking "Are you guys dating?". Maybe its a mentality thing.
@elizabethsflowers723
Жыл бұрын
Personal questions of whether you and your co-founder are in a relationship or not are only awkward or person if you are. As a female business owner - I wouldn't have even given this a minute of thought. Weak founder.
@Adrian-op5ni
5 ай бұрын
She came off as annoying, weak and easily offended. She’s what’s wrong with todays society honestly. Would never want to work with her. Founders that are couples have a lower success rate. It’s a legitimate question.
@Play-Date-Care
Жыл бұрын
Great video, Thank you YC!
@dailyweathertoronto6275
3 ай бұрын
what is L?
@aznviet206
Жыл бұрын
The dating question seems fair. To gauge the dynamic of the business op
@funmilolasopein-mann609
Жыл бұрын
Thank you for this insight. Can YC talk about Non Profit, what it takes to have successfully Non Profit Company?
@foggycraw6758
6 ай бұрын
Its noy what they do
@martinstine
Жыл бұрын
Thanks guys. Nice one YC
@MultimediaPodcast
Жыл бұрын
In the interviews the other person always has a moment where they drift off when listening to the horror stories as if reliving their own nightmare experiences. The second-hand PTSD is real.
@maximusandsenecagloballlc1209
Жыл бұрын
Who trained investors in etiquette?
@boringmanager9559
Жыл бұрын
I honestly with all of my heart believe that VCs are doing the easiest business in the world, but just because most of them are stuck in social norms, they fail to separate weed from chaff. Seeing 5 people sleeping on the floor of a small apartment bc they worked all night is an ultra W and if the idea is sane, that's all you need to know.
@boringmanager9559
Жыл бұрын
@devstuff2576 there's no requirement on how well you must do it
@Rohit_Singh1000
Жыл бұрын
Awsm video❤ I need video how to make billion dollar company.
@ViksitBharata
Жыл бұрын
Make a million people buy some thing that is worth $1000.
@musicmavericks3790
Жыл бұрын
Thank you YC!!! Keep it up
@sanjiblamichhane
Жыл бұрын
Please upload one video a day
@Vasectomyjohn
10 ай бұрын
There is no one in this space doing a roast of the industry
@torkominv2288
Жыл бұрын
the girl on 19:00 mins obviously cannot think clear of why the investors ask some kind of questions...there are no bulshit woke boundaries when money talks... they can ask any questions ..if you are offeneded uou are not capable of running a company.Dtaing your life partner or someone you cowork with many times lead to bad situation and they want to know that... pure logic... where did true business hard mindset gone ?
@MichaelHoward-yv2py
7 ай бұрын
I think it is fair to ask if two founders are dating. Unless the investor is only asking because they are interested.
@anatolenav
Жыл бұрын
The thing that is completely missing from all your recommendations is the language barrier. Suppose a person learns a language very actively while working on his idea in parallel, what should he do in this case? I can't believe that everyone who is not able to participate in negotiations without help, the door is closed.
@jonjeskie5234
Жыл бұрын
Translator?
@anatolenav
Жыл бұрын
@@jonjeskie5234 I mean applying to the YC
@christopherwillson
Жыл бұрын
Pretty lame of Horowitz to reject you because you hadn't decided on a single CEO. If the company was promising enough he should have just tried to convince you otherwise. And investors shouldn't expect people who pitch them to have read their work. That's a silly expectation. And it's not like not having thought of the importance of having a single CEO somehow means you're a founder unworthy of an investment.
@jonjeskie5234
Жыл бұрын
Agreed. They could have a perfectly viable company but just haven't determined leadership structure yet.
@jakubadamowicz
Жыл бұрын
How this only has 41k views IDK lol should be 41m
@heramb575
Жыл бұрын
This is really cool!
@sputnik8543
Жыл бұрын
Love this
@esyjournal
9 ай бұрын
Many of these investors sound like rich dorks happy to have some sense of "power" over those seeking funds. Indie Hacking is the way!
@chan90s
Жыл бұрын
Let's use this thread to understand your bad investor experience.
@fayazmaihandost
Жыл бұрын
I really have great idea need you guys help to bring these to market
@merlepatterson
Жыл бұрын
The future of investing should redirect the lion's share of its focus towards physical product startups rather than software startups. AI's will takeover much of the initial progression of new software and digital; systems going forward. Physical production is a different animal and is much more relevant economically with the growing possibility of broken global supply chains. And when I'm talking about "physical production" I don't mean novelty items such as "Fidget Spinners", I mean ball bearings, transistors, gears, filters, tools, etc. the items which are more "requirement" than "recreation".
@jonjeskie5234
Жыл бұрын
Why? Physical products tend to have massive growth constraints. Same as legacy industries like energy.
@merlepatterson
Жыл бұрын
@@jonjeskie5234 Your home is filled with "physical products" and you get to work in a car which is made from physical products. There is no "growth constraints" on every day required necessities. As I said; "Fidget spinners" we can do without. Ball bearings, shoes, windows, heaters, air conditioners, etc. not so much.
@tigreytigrey8537
8 ай бұрын
@ 19:40 that ABSOLUTELY VERY IMPORTANT to know if the founders are dating! lol. This chick is slow.
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