Startup Success: Tips from David Lee at Startup School NY 2014
This article is a summary of a YouTube video "David Lee at Startup School NY 2014" by Y Combinator
TLDR Investing in the founder, prioritizing effective communication skills, and seeking feedback from investors are crucial for startup success.
David Lee of SVAngel shares insights on exciting opportunities for startup founders in mobile computing, drones, virtual-reality, Bitcoin, and bioinformatics, and emphasizes the importance of investing in the founder, not just the idea.
💰💬: Dad left his job to build fortune cookie machines, and despite the ups and downs of running a startup, he still loves what he does at 79.
Entrepreneur pitches healthcare IT startup to investor at Y Combinator demo day, impressing with vision and articulation in 45 minutes.
Good founders are great listeners who can synthesize multiple inputs, while inflexible founders who ignore inputs are not desirable.
Founder's persistence and seeking feedback from investors led to Sequoia Capital investing in his company, emphasizing the importance of anticipating challenges and seeking help rather than just focusing on valuation.
Choose investors wisely as they can provide valuable mentorship and support, even if their terms are less favorable.
Building your reputation is crucial as a founder, and investing in it is the best career move in tech.