The author also mentions that many presentations cited the total market they were trying to address, emphasizing the enormity of the opportunity as a critical factor in investment decisions. However, the author criticizes the one-minute, one-slide format, arguing that it violates sensible presentation advice and often results in slides crammed with information and presenters merely reciting it. Despite this, the author concludes that the event was successful in providing a whirlwind tour of potentially promising startups.
Key takeaways:
- Y Combinator's Demo Day has evolved over nearly two decades to now feature 243 startups each given one minute and a single slide to make their pitch via Zoom.
- The best AI is quietly useful AI, solving mundane but annoying business problems, and it's beneficial for startups to be the "The" of something, setting high ambitions and grabbing attention.
- Having paying customers, even if the numbers are small, proves a startup has created something of value, but there should also be a large market opportunity at the end of the journey.
- A one-minute, one-slide presentation isn't really a presentation, but it works as a whirlwind tour of just-born, potentially promising startups, which is what Y Combinator is all about.