Can’t Wait (YC S11) is a mobile social network for movie trailers
techcrunch.com
techcrunch.com
Maybe PG just expects these startups to build a quick product and sell off to a Google, Facebook, Zynga etc. I know he chooses startups by their founders, maybe that is because he expects them to be acq-hired.
The most exciting thing I've seen announced on hackernews lately is codecademy and they aren't even part of YC.
Remember, what the startup does when it begins is not what it will grow into. Facebook was a place you could make a simple profile as a Harvard student. Microsoft made a Basic compiler (talk about niche at that time!).
I actually think the way forward is a little bit more obvious for this one. Without even talking to the founders or seeing their pitch, you should be able to think of a number of interesting directions. To pick the most obvious one, wouldn't being the IMDB of the mobile/social era be pretty cool? Is that even really "niche"?
YC makes very little on quick-flip startups.
Count the number of YC partners and the number of LPs they have, do some napkin math on their expenses (weekly dinners for 150+, funding 120 startups per year, presumably moderate salaries for partners and staff, legal bills, flying hundreds of people to SV for interviews every 6 months, etc), and tell me how needle-moving it is for them to turn a $20k investment into $240k (before taxes)... Which is exactly what they'd get for a $4M exit.
AFAIK, YC always advises founders who have an early flip opportunity to stick it out (though it's supportive if the founders don't want to do so).
However, I do think it's a good idea to be "extremely niche", especially when the size of your market - in this case, people who like watching movies - is very large.
I'm sure that a good movie trailer recommendation system would work well on other sites, but those sites may have already moved past the startup/development phase into business-as-usual, where they are trying to squeeze money out of what they currently have without searching for new value propositions.
I'm currently working (albeit in a tremendously half-assed way) on a very obvious movie-related idea because I know I can do it better than the big sites and because the market is enormous.
A lot of great companies start small. One of my favorite PG-isms is this:
If you can make a simple product for a niche audience and make them amazingly happy, it's clear what you need to do next. Find more people like that. Move into adjacent markets (e.g. Craigslist started as an SF classifieds mailing list, Amazon started with books).
If you make a product that makes a huge audience ambivalent, you often have no freakin' clue what to do next. Add features? Take them away? Change your positioning?
So imagine if these guys OWNED movie trailers on mobile. Do you think they'd be stuck there? Could they, perhaps, move on to dominate broader short-form video to satiate micro-boredom? Could they then move onto longer form stuff?
That's not to detract from the above company.
Seriously though, props to them at least for choosing something that is theory monetizable. Movie producers would pay big bucks to reach the influencers that get everyone else to see a movie.
Also, a tiny niche is probably all you can cope with, with limited resources.
Branding is important. Marketing is important. Far, far more important than novelty or impressive technology. Novelty is fleeting - my god, we're already used to Google, and it's literally an epochal advance in library science - and impressive tech tends to confuse people for the first few years, which may be more years than your little startup can afford.
EDIT: I see that Can't Wait also has a revenue stream: Affiliate fees from Fandango.
The app is really well put together too, I've gotten used to apps scrolling tons of images to be rather bad performing, but Can't Wait! scrolls like a champ.
So what do you go when you see a film, come in 20 mins late?
There are several other apps that aim to make sharing movies/songs/<name-it> easier.. but starting with movie trailers is a great start.
Good luck, have fun!
Very nifty app btw - congratulations.
You agree not to distribute in any medium any part of the Service or the Content without YouTube's prior written authorization, unless YouTube makes available the means for such distribution through functionality offered by the Service (such as the Embeddable Player).
Am I mistaken?
Edit:
Also, Convore was launched in YC W11. So this transition must have happened a while ago.
For instance, here's CantWait's "Midnight in Paris" page on its website:
http://cantwa.it/movie/midnight-in-paris/first-trailer-117/
The YouTube movie that is embedded on that page is:
http://www.youtube.com/watch?v=U_3gIxrcWK8&feature=playe...
Which happens to be posted by MovieClips.com, a company that pays the studios to license their trailer data. Is CantWait paying MovieClips.com? Does it pay YouTube? Does it pay the rights holders of the trailers?
Here's another example, CantWait's "Spider Man" trailer: http://cantwa.it/movie/the-amazing-spider-man/first-teaser-6...
It was posted by Sony Pictures on YouTube: http://www.youtube.com/watch?feature=player_embedded&v=u...
Is Sony Pictures cool with CantWait's use of its trailer within a commercial app and website?
I am curious if CantWait is at all concerned about being shut down for commercial redistribution of content from YouTube? Or is CantWait paying YouTube for the content and its bandwidth? What if CantWait scales and YouTube says, enough is enough?