YC

Y Combinator Cast

11/01/17

@ Y Combinator

Google recently announced a clip-on camera that captures the world around you, but the marketing mistake is assuming everyone wants a face computer; in reality, people want a camera.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

The struggle for interestingness in video content is crucial for success, and Snapchat's lenses effectively addressed this by making content more engaging for both creators and viewers.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Live video platforms have not succeeded because they fail to address the struggle for interestingness, unlike video games, which succeed by providing clear, engaging content.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

At Beme, we learned that raw live content can quickly become boring, so we aimed to create a product that feels fun and engaging, similar to watching an edited movie.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Our current product, Panels, focuses on gathering diverse opinions on current stories, aiming to create a space for civil debate and a full spectrum of perspectives.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

To make Panels interesting, we designed it to be contained and focused, allowing users to express their opinions on specific stories rather than a broad range of topics.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

We are intentionally building Panels slowly and not as an open community yet, ensuring a balanced demographic and a welcoming environment for diverse opinions.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

The integration of media and technology in our product is challenging, but we aim to create a symbiotic relationship that enhances both aspects effectively.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

My creative process involves removing obstacles to finishing videos, as collaboration often complicates and dilutes ideas, making it harder to complete projects.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Listening to your own body and mind is crucial in a startup environment; if you're struggling, it's better to step away and return with a fresh perspective.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

I need adequate sleep and regular exercise to function effectively, which is essential for maintaining my productivity and creativity in a demanding environment.

CN

Casey Neistat

11/01/17

@ Y Combinator

When Matt and I first pitched the initial version of Beme, it was a makeshift demo held together with duct tape and spit, designed to impress investors.

CN

Casey Neistat

11/01/17

@ Y Combinator

During our pitch, we cleverly placed pre-recorded videos under the demo cells to create the illusion of live content, which captivated investors' attention.

CN

Casey Neistat

11/01/17

@ Y Combinator

Every interaction with potential investors is a sales process; it's crucial to understand their motivations and what will make them feel they need to work with you.

CN

Casey Neistat

11/01/17

@ Y Combinator

I learned that demonstrating passion for what we're doing is vital in fundraising, especially when I felt insecure about my technical knowledge.

CN

Casey Neistat

11/01/17

@ Y Combinator

Gary Vaynerchuk once told me he invests in the founder, not just the product, highlighting the importance of the story behind the people involved.

CN

Casey Neistat

11/01/17

@ Y Combinator

In fundraising, start by pitching to someone you know won't invest; it helps you practice and get the jitters out before approaching serious investors.

MH

Matt Hackett

11/01/17

@ Y Combinator

Understanding the different types of 'no' from investors is crucial; many responses that sound positive may actually indicate a lack of commitment.

MH

Matt Hackett

11/01/17

@ Y Combinator

A strong 'no' from an investor is rare; often, you'll receive vague encouragement that doesn't translate into actual investment.

MH

Matt Hackett

11/01/17

@ Y Combinator

Our lead investor, Jeremy Lou, was decisive and took a risk on us, which was crucial for our fundraising success.

MH

Matt Hackett

11/01/17

@ Y Combinator

The passion and energy of a founder can significantly influence investor responses, as demonstrated by our interactions with enthusiastic advisors.

CN

Casey Neistat

11/01/17

@ Y Combinator

I learned to rely on the presence of others in meetings to keep myself level and effective.

MH

Matt Hackett

11/01/17

@ Y Combinator

Before entering powerful environments, I remind myself that I was invited there, which helps me feel confident.

CN

Casey Neistat

11/01/17

@ Y Combinator

The key to success is brute force and hard work, along with an unwillingness to accept failure.

CN

Casey Neistat

11/01/17

@ Y Combinator

In fundraising and creative work, the most consistent factor in success is relentless effort and tenacity.

MH

Matt Hackett

11/01/17

@ Y Combinator

Asking directly for what you want is crucial, especially in startup environments where time is limited.

MH

Matt Hackett

11/01/17

@ Y Combinator

When seeking advice, be specific about what you need to respect others' time and increase your chances of getting help.

MH

Matt Hackett

11/01/17

@ Y Combinator

You can never sell your startup; it can only be bought, so always frame discussions around fundraising instead.

CN

Casey Neistat

11/01/17

@ Y Combinator

During acquisition talks, it's important to maintain the narrative that you're fundraising, not selling your company.

CN

Casey Neistat

11/01/17

@ Y Combinator

In acquisition conversations, being direct and clear about your intentions can lead to better outcomes.

MH

Matt Hackett

11/01/17

@ Y Combinator

I relied on advisors and therapy-like discussions to navigate the complexities of the acquisition process.

CN

Casey Neistat

11/01/17

@ Y Combinator

Having a do-or-die mindset during the acquisition process can provide confidence and clarity.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Skateboarding with an expert like Tony Hawk teaches you more than any book on the subject could.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

A single impactful conversation with an advisor can provide insights that general principles from books cannot, especially in nuanced environments.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Managing team psychology is challenging, especially when you can't be fully transparent about potential company changes, like a sale.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

As a manager, it's crucial to provide your team with as much actionable information as possible to help them make informed decisions.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

If you inform your team about potential acquisition talks without context, it can lead to panic and paralysis, especially when the core product is struggling.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

During a financial crisis, one of the best decisions was to take the team on a retreat to foster communication and confidence, despite the company's struggles.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Maintaining team morale and trust is essential, even when you can't share all the details about the company's future.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

In a crisis, focus on ensuring your team feels secure and valued, rather than just on the company's immediate financial situation.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Even during tough times, it's important to prioritize payroll and ensure no one on the team experiences missed or delayed payments.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Building team chemistry is crucial for effectiveness, especially in a startup environment where challenges are frequent.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

As a founder, I often feel the pressure of managing expectations and the team's perception of success, especially when leveraging personal platforms like vlogs.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

The transition from a technology-focused startup to a media and technology company requires learning new skills and adapting to different business dynamics.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Long-term planning is essential, and I envision moving to Los Angeles in the next few years to raise my family outside of New York City.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

I aim to start a completely different career from scratch, learning new skills and embracing new challenges.

Casey Neistat and Matt Hackett on Live Video's Struggle for Interestingness

Takeaways