PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

When my mom got a job with the county, I realized that having a little more money changed how people treated us and how we carried ourselves.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

I want all kids to feel no shame when they go to the grocery store, regardless of whether they receive free lunch or not.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

I spent the first 15 years of my professional life working in the labor movement, advocating for working families and creating dignity in work.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

I learned that technology wasn't benefiting many working people, especially those in low-wage jobs, as it was supposed to.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

I realized that many people who committed crimes had challenging lives and lacked opportunities, similar to my own upbringing.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

Seventy-four percent of people in jail are awaiting trial, meaning they haven't been convicted of a crime, which is shocking to many.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

Two-thirds of those in jail are nonviolent offenders, often held for minor technical violations, which feels fundamentally wrong.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

We started a company to address the issue of people being imprisoned for not being able to afford bail for minor offenses.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

I learned that raising money is easier without a prototype than with one, and that investors need you more than you need them.

PE

Phaedra Ellis Lumpkins

09/18/18

@ Y Combinator

Building a company means creating a space for women to be their best selves and to build generational wealth for families who don't normally have it.

T

Tiffani

09/18/18

@ Y Combinator

People who didn't know us started coming in and asking, 'Hey, I heard you do a thing, can you come do the thing for me?'

T

Tiffani

09/18/18

@ Y Combinator

I run a company called Remix, where we help about 300 cities around the world plan their transportation future, from public transit to street design.

T

Tiffani

09/18/18

@ Y Combinator

We built a prototype to suggest better transit routes to Muni, and when Code for America tweeted it, we realized people were interested in our grassroots project.

T

Tiffani

09/18/18

@ Y Combinator

After getting written up in various publications, we received around 250 emails from planners worldwide asking if they could use our prototype for their transportation plans.

T

Tiffani

09/18/18

@ Y Combinator

We started doing user research in earnest, which opened our minds to the entire world of urban planning we now work in.

AW

Ashley Wong

09/18/18

@ Y Combinator

At Gemnote, we help businesses connect with people through gift-giving, making it easy for companies to send gifts to customers and employees.

AW

Ashley Wong

09/18/18

@ Y Combinator

Initially, we started as a handwritten card service, but our customers wanted help with gift-giving, especially during the holidays.

AW

Ashley Wong

09/18/18

@ Y Combinator

Paul Graham's essay 'Do Things That Don't Scale' emphasizes that in the early stages, founders often do crazy things to make their startups work.

AW

Ashley Wong

09/18/18

@ Y Combinator

In our first year at Y Combinator, we closed a deal with Airbnb for 500 gifts, which was a thrilling yet overwhelming experience for our small team.

AW

Ashley Wong

09/18/18

@ Y Combinator

I learned that founders are incredibly resilient and need to exercise mental strength when facing seemingly impossible challenges.

AW

Ashley Wong

09/18/18

@ Y Combinator

Instead of finding a ton of people who like your product, focus on finding 10 to 20 customers who truly love it, as growth comes from great products, not the other way around.

AW

Ashley Wong

09/18/18

@ Y Combinator

During our early days, we communicated closely with our 24 users, which helped us understand their needs without being metric-driven.

AW

Ashley Wong

09/18/18

@ Y Combinator

We realized our users loved us because they put up with a website that was half-functional, showing their commitment to our product despite its flaws.

T

Tiffani

09/18/18

@ Y Combinator

At Remix, we instituted a metric called 'wins' to measure our customers' successes, counting every time they used our service to make impactful decisions.

AW

Ashley Wong

09/18/18

@ Y Combinator

Gemnote has a cult following because we specialize in premium products, making gift-giving a delightful experience for employees.

AW

Ashley Wong

09/18/18

@ Y Combinator

We measure customer satisfaction through lifetime value, repeat business percentage, and Net Promoter Score surveys to ensure we meet their needs.

AW

Ashley Wong

09/18/18

@ Y Combinator

Sometimes, you have to fire a customer if they don't align with your business goals or if their feedback isn't constructive.

T

Tiffani

09/18/18

@ Y Combinator

In the early stages, it's crucial to iterate quickly and maintain regular communication with customers to gather valuable feedback.

T

Tiffani

09/18/18

@ Y Combinator

During YC, we had many customers sign on, and we ensured regular touchpoints to gather feedback that benefited both our sales and product teams.

AW

Ashley Wong

09/18/18

@ Y Combinator

The best decision I made in my first year was focusing on building a strong brand, which helped establish credibility and attract customers.

A

Alexandra

09/18/18

@ Y Combinator

I'm very happy to be here because three years ago, I was actually in the crowd at a female founders conference before we got into Y Combinator, so I feel like I've closed the loop.

A

Alexandra

09/18/18

@ Y Combinator

I co-founded a sleep technology company called Eight, which uses technology to tackle sleep deprivation and is bringing about the biggest evolution in sleep in the last 60 years.

A

Alexandra

09/18/18

@ Y Combinator

Our signature product, a smart mattress, is used by NFL players and Olympic medalists to improve their recovery.

A

Alexandra

09/18/18

@ Y Combinator

Building a company is just as challenging and rewarding as building a relationship; I've broken down our story through the lens of love.

A

Alexandra

09/18/18

@ Y Combinator

The first chapter of our story is labeled romance, where everything seems perfect and exciting, but we know that romance doesn't last forever.

A

Alexandra

09/18/18

@ Y Combinator

In 2014, my co-founder Matteo, who suffers from restless leg syndrome, wanted to understand why his sleep was disrupted and sought to track it, but none of the products worked for him.

A

Alexandra

09/18/18

@ Y Combinator

Matteo realized that while technology was improving many aspects of our lives, it wasn't being applied to sleep, which is crucial for health.

A

Alexandra

09/18/18

@ Y Combinator

After sharing his ideas with his friend Max, they built a prototype of our first product in a garage, which led to the decision to turn it into a company.

A

Alexandra

09/18/18

@ Y Combinator

I joined the team to handle consumer marketing, despite having no experience in that area, but I saw it as a great opportunity.

A

Alexandra

09/18/18

@ Y Combinator

We decided to launch our product through crowdfunding, as it was such an innovation that we couldn't compare it to anything else in the market.

A

Alexandra

09/18/18

@ Y Combinator

We realized we would never feel ready to launch, so we set a date and worked hard for four months to prepare for it.

A

Alexandra

09/18/18

@ Y Combinator

During our launch preparation, we conducted extensive customer discovery, speaking to over a hundred people about their sleep to understand their needs.

A

Alexandra

09/18/18

@ Y Combinator

As we neared our launch, we officially became a couple and launched our company in 2015, aiming to raise a million dollars through crowdfunding.

A

Alexandra

09/18/18

@ Y Combinator

Achieving a million dollars in crowdfunding was crucial for us to break into Silicon Valley and prove our success to investors.

A

Alexandra

09/18/18

@ Y Combinator

On January 2015, we launched our crowdfunding campaign and within six hours, we made $100,000 in pre-orders, which was a huge milestone for us.

A

Alexandra

09/18/18

@ Y Combinator

After 45 days, we had made our million dollars in pre-orders, which was a cause for celebration, and shortly after, Matteo and I got married.

A

Alexandra

09/18/18

@ Y Combinator

We faced the reality of having to manufacture 8,000 smart covers to ship around the world, which was a significant challenge for us as none of us had hardware experience.

A

Alexandra

09/18/18

@ Y Combinator

During the disillusionment phase, we struggled to attract investment due to recent failures of other hardware companies, which made investors hesitant.

A

Alexandra

09/18/18

@ Y Combinator

We faced challenges with our product's pre-order sales drying up and struggled to maintain press coverage as our product wasn't ready for manufacturing yet.

A

Alexandra

09/18/18

@ Y Combinator

We received a ray of hope when Y Combinator reached out to us, as they were looking to support more hardware companies.

A

Alexandra

09/18/18

@ Y Combinator

After being rejected twice, we decided to apply to Y Combinator again, this time with some validation from our pre-order revenues.

A

Alexandra

09/18/18

@ Y Combinator

We were accepted into Y Combinator, which was a significant milestone for us and changed the course of our company.

A

Alexandra

09/18/18

@ Y Combinator

During Y Combinator, we learned the importance of getting our product into the field for beta testing, which helped us iterate and improve.

A

Alexandra

09/18/18

@ Y Combinator

We started measuring our growth weekly and focused on what progress we could make week over week, which helped us recover from our initial struggles.

A

Alexandra

09/18/18

@ Y Combinator

We conducted surveys with our customers to understand why they bought our product, which helped us tailor our marketing messaging.

A

Alexandra

09/18/18

@ Y Combinator

During demo day at Y Combinator, we showcased our product and met with investors, which was a pivotal moment for us.

A

Alexandra

09/18/18

@ Y Combinator

We learned that finding investors who specialize in hardware was crucial, as they understood our vision and supported us.

A

Alexandra

09/18/18

@ Y Combinator

After demo day, we had to ship our first units, which required moving most of our team to China to manage manufacturing.

A

Alexandra

09/18/18

@ Y Combinator

Despite the challenges, we successfully shipped 8,000 smart covers to over 67 countries, which was a significant achievement for our company.

A

Alexandra

09/18/18

@ Y Combinator

We are now focused on creating lasting love in our company, ensuring that we survive and thrive for the long term.

A

Alexandra

09/18/18

@ Y Combinator

Our goal is to use technology to help people sleep better, which drives our passion and vision for the future.

A

Alexandra

09/18/18

@ Y Combinator

I recommend investing time in customer discovery, as it will never be wasted and will help you understand what your customers truly want.

A

Alexandra

09/18/18

@ Y Combinator

Hiring A-players is crucial; it's important to find people who are passionate about your mission, not just skilled individuals.

A

Alexandra

09/18/18

@ Y Combinator

Focus on what matters most for your business; avoid vanity metrics and concentrate on sustainable growth and revenue.

A

Alexandra

09/18/18

@ Y Combinator

Find your tribe; surround yourself with people who are smarter than you and willing to help, as they can provide invaluable support during challenges.

A

Alexandra

09/18/18

@ Y Combinator

Using your love to change the world is what keeps us going; we want to eradicate the problem of a bad night's sleep for everyone.

A

Alexandra

09/18/18

@ Y Combinator

We've tracked over 15 million hours of sleep to understand how different people sleep, and we're becoming one of the largest sleep data collectors in the world.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

The most painful experiences included multiple hiring mistakes and early employees leaving.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

Receiving user love letters, like one from a girl who credited Polyvore with inspiring her to pursue a computer science major, was a proud moment for me.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

For two or three years, we were recognized as one of the great places to work in tech, alongside companies like Twitter and Workday, which was a testament to our solid culture.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

The process of selling the company was very painful and arduous, especially since I had to maintain a double life and couldn't be transparent with my team during the acquisition process.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

When we announced the acquisition, I was worried the team would be upset, but instead, they cheered, which was a beautiful moment for me as a founder.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

Yahoo treated us incredibly well during our time there, allowing us to ship many cool mobile apps and build our own lab, but it was hard to lose control over the culture we had built.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

Having a group of female founder friends has been incredibly soul-nourishing, and I recommend finding someone to connect with for support.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

As a female founder, I realized that fundraising is particularly challenging, and I wanted to help level the playing field for future female entrepreneurs.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

When pitching, it's crucial to sell the dream and not just focus on the current state of the company, as venture capitalists are looking for upside maximization.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

I wish I had sold the big dream more effectively during fundraising, as I was too focused on being a good founder and delivering on promises.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

As a VC, I focus on consumer sectors and the consumerization of enterprise, particularly those targeting female consumers.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

Grit and tenacity are essential qualities in founders; it's not just about having the best product but about outlasting challenges.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

I look for founders who can share their background and story, as it often reveals their grit and determination.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

The women in venture capital rallied together in response to the challenges faced in the industry, leading to initiatives like 'All Raise' to support female founders.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

The mission of 'All Raise' is to create a more diverse ecosystem in tech, aiming to increase the percentage of senior women in venture capital and funding for female founders.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

It's important to create a culture that is parent-friendly and meritocratic to attract and retain female talent in tech.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

As a female leader, I learned to be authentically myself and to embrace my strengths while hiring around my weaknesses.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

We wanted to create a game that was more engaging and different from what existed on Facebook, so we developed 'Kingdoms of Camelot' using public domain material to avoid IP costs.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

User testing revealed harsh feedback from friends and family, who criticized the game's complexity and lack of engagement.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

I learned that if we had waited to launch, we would have wasted time fixing things that didn't need fixing, and I'm glad we launched quickly.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

When we launched, we discovered that players were forming friendships based on shared interests, which was a unique aspect of our game.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

In the gaming industry, it's crucial not to wait to launch; you might end up polishing something that doesn't need it.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

After facing a 30% tax from Facebook, we realized we needed to expand beyond the platform to sustain our business.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

We had to instruct our team that any new game should not launch on Facebook, as we needed to find revenue sources elsewhere.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

We sent a co-founder to China to build a mobile team because we needed to move faster and couldn't develop it internally.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

When we launched our mobile game, it became the top-grossing app in 2012, marking a significant milestone in the gaming industry.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

I wish I had believed earlier that I could make life happen for me instead of letting it happen to me.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

The mental story you tell yourself is the most important and persuasive; I learned that everyone feels incompetent at times.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

As a founder, you are the right person to lead your company because you understand its vision and direction.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

Ten years ago, we faced significant challenges, but last year we sold our company for over a billion dollars.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

You can always have failure without success, but you cannot have success without failure.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

I realized too late that I had wasted time doubting my place in the company, which hindered my ability to push forward.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

Our tool, Nifty, is a Chrome extension designed to help software engineers work more efficiently by organizing data across productivity apps.

YC

Y Combinator Cast

09/18/18

@ Y Combinator

Engineers often waste 15 to 20 percent of their time navigating between different applications instead of coding.

Female Founders Conference - Mountain View

Takeaways