YC
Pitch Practice with Paul Buchheit and Sam Altman at Startup School SV 2016
@ Y Combinator
12/26/16
Takeaways
YC
Y Combinator Cast
12/26/16
@ Y Combinator
Pitch practice helps founders gain real experience pitching to investors who are unfamiliar with their startups.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
The median startup is worth about $0, and 95% of startups are considered bad investments, leading investors to default to saying no.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
When pitching, founders need to demonstrate why their startup is the exception to the typical failure rate of startups.
JB
Jenna Brown
12/26/16
@ Y Combinator
Shipamax helps agricultural, energy, and mining companies hire full ships, not just containers, for transporting large quantities of goods.
JB
Jenna Brown
12/26/16
@ Y Combinator
Using satellite technology, Shipamax can quickly identify which ships are available and meet specific requirements, significantly reducing the time to book a ship.
JB
Jenna Brown
12/26/16
@ Y Combinator
Shipamax aims to streamline the shipping process, allowing traders to receive faster responses and better service compared to traditional brokers.
JB
Jenna Brown
12/26/16
@ Y Combinator
Shipamax has secured requests worth approximately $4.5 million since launching its beta, including a deal with a major energy trading company.
JB
Jenna Brown
12/26/16
@ Y Combinator
The potential revenue from a deal with a large energy trading company could reach $15 million annually for Shipamax.
JB
Jenna Brown
12/26/16
@ Y Combinator
Shipamax's goal is to serve both small and large clients by providing superior intelligence and faster access to shipping options.
SA
Sam Altman
12/26/16
@ Y Combinator
Sam Altman emphasizes that the shipping industry has not yet adopted effective technology, leaving a significant market opportunity for startups like Shipamax.
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Sam Altman
12/26/16
@ Y Combinator
The shipping brokerage market is valued at $150 billion annually, presenting a lucrative opportunity for disruption through technology.
SA
Sam Altman
12/26/16
@ Y Combinator
Sam Altman believes that the combination of human brokers and advanced software will create a more efficient shipping experience for customers.
JB
Jenna Brown
12/26/16
@ Y Combinator
Shipamax has received job requests from 50 potential customers within its first seven weeks of operation, indicating early interest in its services.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
We expect to book three boats next week and generate our first $10,000 in revenue, aiming for $100,000 in profit over the next few months with nearly 100% margin.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
Our biggest expense will be paying brokers' salaries and commissions, but we believe we can make them 100 times more efficient with software due to the industry's inefficiencies.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
The charter broker market is about $150 billion, and the shipping market is in the trillions, making it one of the largest drivers of worldwide GDP.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
We understand the industry deeply as former commodities traders, where speed and certainty are more important than price when trading on thin margins.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
It's crucial to leave a meeting with a follow-up plan, such as asking if you can email or meet again, and always have a specific ask.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
Healthcare in the US is inefficient, with 19.5% of GDP spent and the lowest satisfaction among developed nations, driven by a lack of incentive to reduce costs.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
Our goal is to empower patients by consolidating their healthcare data into one accessible platform, improving their experience and potentially reducing costs over time.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
We charge $99 a year per patient, aiming to keep healthcare costs down while providing a valuable service, and we currently have 150 customers growing at 12% per week.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
It's essential to clearly communicate what your product does and who your customer is within the first 30 seconds of a pitch to ensure understanding.
YC
Y Combinator Cast
12/26/16
@ Y Combinator
Learning to simplify your pitch to its essentials is a crucial skill for success in fundraising and pitching.