03:39 Pebble raised $10.2 million on Kickstarter, Y Combinator grew from a small group of founders, Ron Conway was initially skeptical but impressed at demo day, and startups require resilience and drive to succeed.
- Eric struggled to get funding for his hardware company, Pebble, until he put it on Kickstarter and raised $10.2 million in 30 days.
- Y Combinator started with a small group of founders who took a chance on the organization, despite initial skepticism, and slowly expanded from there.
- The speaker tried to convince Ron Conway, the number one angel investor in the valley, to come to demo day and invest in individual startups, but initially got brushed off, eventually Ron came to demo day and was impressed with what he saw.
- To succeed in a startup, you need both resilience and drive to overcome a variety of specific and vague problems that require improvisation and abnormal solutions.