jason

Remote Demo Day - Pitch 4,000 investors remotely

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Startups are getting crushed by the pandemic &because investors are not taking meetings. Many have stopped investing. So, every 2 weeks we are going to let seven founders pitch 4,000 investors over Zoom. We will also be investing most of them in all likelihood

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Andrew Tye
Nice @jason - what size of round is ideal for this?
jason
@awt I think $250k to $3m is the sweet spot. We are going to promote the heck of the seven startups and try and get them 100+ meetings each.
Andrew Tye
@jason thanks...sounds good!
Jason Joseph
@jason it would be amazing if our nonprofit Six Beats Of Separation® would be considered to be passed around in similar fashion. We are the ONLY nonprofit in history that can amplify every donated dollar for generations to come, and do so while making it possible for the general public to be charitable without even opening their wallets. ALl they have to do is show up to see what we share (Celebrities share their favorite songs to benefit their favorite charities via photos and long form video interviews.) www.SixBeatsOfSeparation.com
Pedro Góes
InEvent Virtual Lobby can be a great fit https://inevent.com/en/virtual-o...
jason
@pedro_goes cool product / kind of odd to spam a thread with no context
Pedro Góes
@jason Thanks Jason. I think it would be a great fit for the 1-1 meetings during the conference. You planned on using Zoom?
Ilya Breyman
Will investors be able to ask questions or only hear the pitch/request meetings?
jason
@ilya_breyman1 current plan is to share the deal flow with the world --- not keep it for ourselves, so depending on on how many people come we will let them ask questions OR let them setup follow up meetings, What do you think is better: 7 companies doing 3 minutes each and let the investors be done in 30 minutes OR have 5 minutes of Q&A and having it last 75 minutes?
Mark Silva
@ilya_breyman1 @jason like the 4:4 pitch:q&a format with a couple transitions/intros you land it in an hour. Could breath a little and have transition time, allowance for tech glitches, etc if you make it 6-pitches.
Ilya Breyman
@jason better keep it shorter of course. Maybe under 45 minutes and allow 1-2 follow-up questions (pre-moderated?)?
Jason Evanish
@ilya_breyman1 @jason Don't do Q&A. If you do, you risk people getting hammered by group think. I've heard many a horror story from people pitching Angel Groups where one skeptic is like a turd dropped in the punch bowl. If people have questions, either A) they're interested and it generates a meeting where you can dive in properly to it, or B) it doesn't matter because they're not interested in investing anyways
Craig Zingerline
Is there a target MRR/ARR or user target for these companies @jason?
jason
@craigzingerline something in the $5k to $100k a month in revenue is the sweet spot for seed rounds today--but we would turn away someone with more.
Robert Haydock
How much time is given to pitch? Is there Q&A for the pitches?
jason
@robert_haydock 3 minute pitches with follow up longer form meetings is what we are thinking right now.
Michael Hoffman
@robert_haydock @jason I think one question from you Jason would be good. You will know the most obvious/important question that could shed a lot of light on the company.
Adrian Carolli
Typo? "We will also investing most of them in all likelihood."
jason
@adrian_carolli thanks pal
Matthew Johnson
@jason great initiative. Will definitely check it out once we are closer to the goldilocks zone. If it goes well, do you see this continuing after lockdown?
jason
@mattcrail sure, if it works
Andrew Devlin
@jason we would love to get on the list of founders pitching. We have product market market fit, happy customers and now need to scale!
Andrew Devlin
@jason so excited.. went from Slack to here, never read the front page. We will fill-out the application and go from there - thanks so much and have a great weekend!
jason
@adevlinirl go for it!
Georg Berger
This is great! Why only 7 startups/30 minutes? Why not 15 to 20 startups and make it 60-75 minutes?
jason
@georg_berger attention span of an investor is same as short term memory (which is 7 +/-2 in most folks)
Georg Berger
@jason and I just saw that there will be several sessions! This is cool. I co-founded an online academy similar to Lambda School targeting the LatAm market. Our MRR is still a bit low, but will apply anyways. Thanks for organizing this Jason!
Liron Shapira
Nice, look out YC!
jason
@liron_shapira not competitive with YC... complimentary, hope to have many YC startups in fact
Liron Shapira
@jason Complimentary to the founders who have already joined YC, and helps boost the value of YC's current/past investments. But as to YC's future strategic advantage... this could substitute for a very significant chunk of YC's value add, thereby lowering YC's differentiation and ROI. Well played
Your Data Driven Decisions
Excellent effort Jason. We want to participate but arent there with monthly revenue yet. I feel scared and excited hearing you talk about what we are working on ... helping customers find work and live based on not just excellent weather (yes you California!) but their overall expenses and growth. Hope you do this again in a few months.
Andrew Gazdecki
Well timed launch from a top notch investor right here, congrats @jason 🔥
Garett Martocello
Cool, great way to beat the pandemic blues and keep the drum beating!
Başar Kaya
Well thought product and I think it can be used also after pandemic (I am not sure if we will have a future without pandemic...)
Dharmesh Shah
Love this idea, @jason.
caryn werner
this is freakin' brilliant! congrats, jason!!!
Ardy Naghshineh
@jason Would you let other people join these calls to watch the pitches and hear the investors' questions? People (like myself) could learn from it and they might even become customers of those startups.
Michael Hoffman
Will you have a way to get feedback from founders to see whether they got deals out of it?
jason
@michaelhoffman yeah, we will do a survey i'm sure
Casey Golden
Love it! Jason, you're always looking out for us. Thank you.
Jake Tital
This is a brilliant idea during this time ?makers . Im currently raising a seed round for a product of mine (a genetics marketplace in the cannabis space) Keep an eye out for our submission :)