The key idea of the video is that Y Combinator's Startup School provides valuable resources and advice for entrepreneurs, including the importance of mission-driven innovation, customer communication, and playing the long game with investors.

• 👥
  00:00

  Startup School hosts event with speakers and networking, plus new class in 2017.

  • Startup School is hosting an event with great speakers and encourages attendees to network, and they will also be offering a new class in 2017.
  • Ushma, the founder of Gobble, shares her story and the power of a mission as the CEO of a company that will do over 100 million dollars in sales next year.
  • Most great startups follow the startup curve, which includes an exciting launch, a multi-year slog and trough of sorrow, wiggles of false hope, and if you have the stamina and grit, you may reach the promised land.
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  04:06

  Dad's home-cooked Indian food saved the speaker from feeling lonely and disconnected, while posting an ad on Craigslist for $8 led to a successful business providing healthy meals.

  • Eating alone and unhealthy takeout food made the speaker feel lonely and disconnected from the family tradition of nutritious home-cooked Indian food, until her dad flew to California with suitcases full of his cooking.
  • Posting an ad on Craigslist for someone to make dinner for $8 led to a flood of responses, which turned into a serious opportunity to create a business providing healthy, home-cooked meals.
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  07:09

  Despite initial rejection, the speaker secured investment from Keith Rabois for their business idea after finally meeting him in person.

  • The speaker couldn't find a technical co-founder for their business idea, so they decided to reach out to investors and eventually got introduced to Keith who declined to invest due to his new job at Square.
  • The speaker tried to get a meeting with Keith Rabois for six weeks through various connections, but Keith declined due to starting a new job and not making new investments.
  • By telling Keith that I was nearby, I was able to meet him and secure his investment in my pitch within 10 minutes.
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  10:40

  YC founder stresses the need for distribution innovation over revenue to avoid losing sight of the mission and falling short on fundraising goals.

  • The speaker worked hard to promote their product, Gobble, by pitching to coffee shops and mom's groups, writing personal letters with flowers attached, and distributing them throughout Palo Alto.
  • YC founder emphasizes the importance of finding distribution innovation before scaling, as focusing solely on revenue can lead to losing sight of the mission and falling short on fundraising goals.
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  14:28

  Gobble's personalized food recommendation software was successful but failed to raise series A due to competition from other food startups.

  • The speaker developed a personalized food recommendation software based on personal tastes, past orders, and similar preferences, inspired by companies like Netflix and Pandora.
  • Gobble's revenue was five times higher than any previous model and over 35% of people were eating on autopilot, but failed to raise series A due to competition from other food startups.
• 💡
  17:21

  Joining Y Combinator saved a struggling startup and going back to basics, like talking to customers, is crucial during tough times.

  • Joining Y Combinator was a lifeline for the speaker's struggling startup, despite initial reluctance due to pride.
  • During the tough times, it's important to make every penny count and going back to the basics, such as talking to customers, can help you not only test and iterate your product but also understand the why behind your mission.
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  20:55

  Gobble's mission is to create love through food by recruiting people based on mission, leading to long-term success.

  • Gobble's true mission is to create moments of love through food, and recruiting people based on mission rather than ambition leads to long-term success.
  • The speaker and her team faced a difficult challenge but focused on their mission, discovered a need for quick and satisfying meals, and learned about the French culinary term misonplas.
  • Prep cooks and sous chefs chop vegetables, marinate meat, and prep sauces every day at a restaurant to have everything in place for the executive chef to cook dinner in just 10 to 15 minutes, which inspired the creation of meal prep kits for families.
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  24:42

  Switching to 10-minute dinner kits and playing the long game with investors helped the speaker's business grow from zero to millions of dollars per year in ARR in less than one year.

  • The speaker's business grew from zero to millions of dollars per year in ARR in less than one year by switching to 10-minute dinner kits and playing the long game with investors who had previously rejected them.
  • Company event invites employees, families, and customers who share stories of how using the product has improved their family time and quality of life.
  • Have grit, experiment, and have a mission in your heart to be successful in your startup.