Conference Presentation, Keynote
Nate Blecharczyk at Startup School 2013
- Successful companies are expected to experience "hockey stick growth" spanning from the first through the fifth year, a trajectory described as the "hardest thing you ever do" involving more failures than successes.
- Past experiences, including failures and lost interests, are anticipated to serve as foundational preparation for future success.
- Partner selection is identified as the most critical decision, with relationships expected to last years because partners cannot be changed without restarting the venture.
- The platform is expected to evolve beyond the initial conference design to host other events, with a new vision launching within three months ahead of the Democratic National Convention.
- Feature additions such as verification, reviews, and Facebook integration are predicted to be unachievable within a one-month timeframe.
- The new vision aims to launch with a simplified "three clicks to book" hotel-like user experience.
- Investors are expected to prioritize billions ("B's") over millions ("M's"), requiring a strategic connection between the original concept and massive scale.
- Media attention from local blogs and CNN is predicted to occur but will be fleeting, followed immediately by a "trough of sorrow" where efforts yield no results.
- Fundraising difficulty is anticipated to increase due to market sentiment, including predictions that no one will be able to raise money again.
- The Y Combinator team is expected to maintain a super-focused schedule of 8 a.m. to midnight during their three-month program.
- A goal of "ramen profitability by March" is set, defined as generating $1,000 per week to cover rent and basic living expenses.
- A strategy of doing "things that don't scale" is expected to be necessary, starting with manually helping users in New York, which is identified as the target "magical number" for initial traction.
- Curating "20 or 40 really good looking properties" in New York is anticipated to be the turning point where the service starts getting booked and gaining traction.
- Following a pitch to Greg McAdoo, a signed term sheet and $600,000 in seed funding are expected within two weeks.