YC W20 Online-Only Demo Day
blog.ycombinator.com
blog.ycombinator.com
I'm used to thinking of video watching as being a low value activity that should not be optimized for, but there's an increasing amount of professionally necessary video watching.
Maybe I should build a dedicated video room, like a home theater but for work, with minimum visual distractions.
Do people have advice on how to focus on videos?
You can edit the speed above 2x on YouTube in the web console (I forget specifics, but easily searchable).
I think Andrej Karpathy’s talk during tesla autonomy day, and any talks by John Carmack are the only ones I enjoy at 1x (they talk fast).
Taking notes / creating Anki cards helps with focus.
I use noise-canceling headphones (inexpensive from Taotronics) and the DFX plugin [1] for audio clarity. The plugin has a Dialog Boost setting intended for transcription. It goes a long way to improve muddy audio.
If a talk is 40 minutes and there are no slides available and the author goes through the slides in the video, I'll play the video at 10x or more just to check out the slides and see if the talk addresses the points I'm interested in. 40 minutes at 10x or faster is around 4 minutes. It helps me decide and avoids me wasting 40 minutes on the wrong talk.
A solution that would be up your alley for experimentation is getting curved LCD display and putting it on a humanoid^.
I think getting some sample audiences would allow for iteration to a decent remote solution. It may be awkward at first, so bringing back cohorts may help them adapt to the robot.
^I think it would have to be more nuanced, but it is a start to engaging with real depth perception.
- Use a good monitor or TV. Ideally not the main one you use to work. - Move, physically, from my desk to a place I take the calls in. Enter 'meeting mode' not 'desk mode' - Close all other applications. Full screen video. - Turn off other monitors - Take notes via notebook
I bet building a room would help, but these things worked for me in an apartment where that wasn't an option. Still takes energy to focus on it though.
A good way to practice paying attention to video is to take notes while watching. And use pen and paper! You don't need the notes later, they are just a tool to help maintain focus and process as you listen.
I create a spreadsheet with every startup before I start watching anything.
Then I start rating startups and comment on founders on my sheet while watching the videos.
I focus 100% on the first minute of any video, sometimes founders are so good they completely get my attention, sometimes I lose interest and just go back to my sheet commenting.
My sheet/notes are my starting point, if I’m bored I fix it there..I found out that I get bored when I hear a pitch that solves a problem for industries I’m not interested in.
I attended 4 online demo days, and every time my sheet gets improved. I cannot watch these videos without a spreadsheet..and now my team asks me to send them the spreadsheet before every demo day.
I think YC should add a sheet for us to write our comments/ratings and decision.
The data from these sheets will be so helpful to understand how attendees perceive each pitch, how founders can improve it
After a year I go back and compare my ratings to how much each startup raised, IRR..etc.
In the first batch I rated one of the startup 1/5, after a year, when the startup raised a lot $$$$ I went back to my comment on why I rated it 1/5
My note said “too niche”
It hit me and I realized it was as if Jeff Bezos was pitching me Amazon and I said e-commerce for books only! This is a niche market.
It’s very helpful to go back and read your comments about these startups. You learn with every startup you mess..
Are you an investor? Startup stats fan? Looking to take your lessons and research and start your own company?
Would you be willing to share your notes or a curated version?
I attend these demo days on behalf of investors who trust my judgement in specific verticals.
I’m fine sharing my notes.
I wish I had decision notes from earlier life choices, like why I studied EE instead of CS, why I chose my PhD advisor, why I joined companies, got married, etc.
But I hear you...sometimes you lose sight of your big goal. It helps to have your goal/vision engraved in your mind, it helps to write and dream about it.
The suggestion here about making a spreadsheet is good too, it reminds me of people who keep records while watching sports.
Practice.
Or discover why you’re not actually interested in the content.
That being said, I think we at Wanderlog (W19) would've needed much longer to raise if not for a chance in person meeting at Demo Day.
We were encouraged to cold-pitch investors in person in the halls during breaks at Demo Day. For one of those pitches, I found an awesome investor who'd heard of us through a friend. While he'd thought there was a gap in travel planning tools before, this chance encounter gave me the chance to sell the company a lot more than we got from the super-brief Demo Day presentation. We had a handshake deal 3 days after that.
We wrote more about the lead-up to experience in our blog at https://wanderlog.com and my conclusion is: it's harder to forge that quick trust and connection anywhere other than in person.
That being said, I do realize we were very lucky. This change could be good for some companies and worse for others, as it rewards solid businesses more than charismatic pitchers. I'm looking forward to seeing the Demo Day pitches for this batch!
It won't "completely" capture the face-to-face meeting experience, but perhaps partially?
P.S: And Then. Do it in VR.
Thanks YC!
Education is another use case too, I know there's already online schools for college and even K-12 has online schools. Florida I guess there's a popular one, Ohio had one called ECOT but they ended up shutting down due to an issue with tracking attendance but some feel it was more political attack on school choice. But usually there's what called a learning management system where you can mail your teacher, view grades, submit assignments like uploading a DOC or Powerpoint, do quizzes, read and watch material. Then once or twice a week there's a live session that was optional which uses software that the webinar people use with chat, voice, screen sharing, whiteboard, etc. So I think a virtual world could replace the meeting software maybe, but I could still see the school wanting to use their own LMS.
However I think some regulations will slow the adoption of working remotely which I commented about yesterday on another post but it was a bit long and not sure if stuff people actually are thinking about. For example if a company in California wants to hire someone in Ohio to work remotely there's extra red tape to deal with. Because the company is then considered doing business in Ohio and not only California so creates paperwork and expenses for compliance. Plus if the business doesn't have an address in the state, that can also complicates things and then other questions come up too since the laws were written considering everyone commutes to work instead of working remotely for a company across the country. So it's not usually worth the extra burden to hire only a single person in a state or even some stuff is county or city by county or city. So sounds like remote would be easier if they report to a regional office instead of being fully remote maybe. So if a company in San Francisco wants to hire people remotely, they might have to limit it to residents of the area they operate in.
I remember reading once on HN but forget where someone was already remote and wanted to move somewhere cheaper but was told no due to legal reasons. Actually wouldn't surprise me if a lot of companies are already breaking these employment laws. Like some startups offer unlimited vacation but expect people to still stay in touch or maybe they'll spend a hour or two doing some work from their hotel room... If the company is based in California and they took a ski vacation to Colorado, the company could be creating obligation to Colorado for different taxes, insurance requirements, etc technically. Same with trade shows or conferences for example worker compensation not every state has reciprocity, and some funds are state ran too without allowing a private insurer. So if you send your team to a conference for a few days, that could complicate things especially if it's not a state you already were doing business in - like someone was doing something in Washington State and some forms online wouldn't let you use a out of state address. There's a list somewhere, some states want you to do this on the first day while other states are more friendlier (maybe they are hoping to attract events and conferences to their state!). Then was reading states like New York will even consider a layover during a business trip, so check your employer email on your blackberry and New York wants a slice of the pie. Sure this is how some lawyers and HR people interpret this stuff, but in reality not sure if NY will really follow up just for checking your email but in theory it's a possibility.
Then a few states like NY, NJ, PA, DE, NE has rules on telecommuting too, apparently someone who worked remotely for a company located in NY from his home in TN ended up owing income tax to NY even though he performed the work in TN. However if the business created Nexus in TN by hiring someone from there, sounds like a huge conflict of law with TN and NY, so maybe those states are bad to base your company from if you want to allow remote. Sounds like though if that company had an office in TN, they could have assigned the employee to report to the TN location instead of NY and wouldn't of been a problem maybe.
So, yes, it'll be hard to untangle all of the confounding factors.
> We will also provide additional written background information on each company and access to their decks.
I can do triage on decks a lot faster than I can on pitches. When there are 100 companies to go through, being able to quickly eliminate companies that I know I'm not interested in is a huge win.
If I can look at a deck, then I can do two things that I can't do during a pitch. First, I can close my eyes and take a deep breath for a minute without missing anything. And second, I can see right away that, for example, this company is in a sector that I am not focused on (because I don't know anything about it) and so I am not going to invest in it even if it looks like a great opportunity. I am an individual investor with a very narrow focus (I look for companies in particular technical niches) so I can eliminate 80-90% of opportunities just by knowing the market segment they're in. A company might be well positioned to revolutionize (say) fashion design, but I'm not going to invest in it because I know absolutely nothing about fashion design, and I don't invest in things I don't understand. With a deck I can figure this out an order of magnitude faster than if I have to sit through a whole pitch.
I just sent u an email. Any feedback appreciated
Two suggestions:
1. Post this as an ASK HN so that you can get feedback from people who are a better fit for this sector
2. Just build the damn thing. How hard can it be? (And if the answer is "really hard", then your deck should explain why, and why you are uniquely qualified to do it.)
A great example from history: compare Philly to other cities (e.g. St. Louis) during the Spanish flu outbreak — they held a major event in that phase and that single-handedly turned it into the worst hit city of the epidemic with almost 1% of the entire city population perishing as a result.
If founders had an ability to tick a box that said make public. Not sure if it’s a thing with regular Demo Days. Would love to tune in.
In fact, there are whole communities built around publicly sharing your companies' financial metrics. Eg https://www.indiehackers.com/products
Maybe you could talk in front of the camera in front of a green sheet with your team and then screen record to sync up with it since not in a big room with a projector or maybe simpler if don’t have the equipment or space is just do like game streamers do and screen share with your face overlaid your desktop or switch back and forth. Sounds like doing a startup got to wear multiple hats including some video production.
For example there’s some YouTube vloggers who can talk to the camera like it’s natural but if they have to do any public speaking it feels different. I remember some channel I follow travel related was asked to speak at a meet up and then another YouTuber won a award and flew to New York to accept it. So you can talk to millions though the camera, but talking to a room with a few hundred or thousands is a bigger deal for some reason. Maybe because online more control and editing though... if you get sick or pronounce something wrong you could just edit it out and jump cut between
I've always had an interest in video production but never had the chance to really express that. I think one thing I'd recommend is when demoing maybe create a fresh separate user account, so less distracting when demoing with other programs or a clutter desktop. Also probably makes it look more professional too. I've figured if I ever made something with video tutorials, that'd be a little improvement maybe.
Obviously public speaking is a great skill to have, but having so much money and time hinge on a 10 minute speech you can simply flub (through nervousness, poor sleep, etc) can't possibly be the most efficient way of allocating startup capital.
If the point of demo day is to explain your idea in an efficient and understandable way, it seems like video would be the way to go.
I think there’s a lot of benefits to meeting in-person, some of which are hidden and you can’t anticipate. A lot of deals have probably been done due to serendipity and chance in the hallways so I wouldn’t want to discount them entirely.
But I like this. It feels like at the very least, there’s an opportunity to experiment with something new.
You could reach out to Kurt Francom and ask him what mistakes they've made with their virtual summits to try and avoid and then apply a more tech-knowledgeable approach for a security virtual conference.
https://www.vox.com/2020/3/6/21167675/trump-fox-news-town-ha...
Could be a game changer if a remote pitch event can be as productive (or close to) as one in person.
I'm personally doing plenty of traveling this month, taking advantage of discounted flights and hotels while lots of people rebook.
Am I mistaken? What do you guys think?
As to the health authorities - they are acting responsibly.
It is in the best of interest to delay, manage and contain the virus spread, even though it's probably impossible to stop, because no country is in such surplus of medical resources to be able to admit hundreds of thousands of patients with severe respiratory issues. And the collapse of some local medical systems will incur mass hysteria which will make managing the crisis really difficult. So distributing the infections is really, really important, and will save many lives.
R0 is the number of people infected on average by each case of coronavirus. These measures are designed to get R0 as low as possible, since that will greatly reduce the spread.