YC
Ron Conway at Startup School 2013
@ Y Combinator
10/27/13
Takeaways
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Ron Conway
10/27/13
@ Y Combinator
I was impressed by Evan Williams' genuine concern for his investors after Odio went out of business, which made me eager to invest in his next venture, Twitter.
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Ron Conway
10/27/13
@ Y Combinator
I invested in Twitter after Evan Williams returned money to investors from his failed startup, Odio, showing his integrity and commitment to his investors.
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Ron Conway
10/27/13
@ Y Combinator
When I first met Mark Zuckerberg, I was struck by his vision and confidence, predicting Facebook would have 300 million users, which it far exceeded.
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Ron Conway
10/27/13
@ Y Combinator
The growth and user engagement on Facebook excited me, even though I wasn't a big user myself; the metrics showed it was gaining traction quickly.
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Ron Conway
10/27/13
@ Y Combinator
Many founders believe their company will succeed, but those whose companies don't often iterate tirelessly until they find success, becoming unsung heroes.
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Ron Conway
10/27/13
@ Y Combinator
Ben Silbermann of Pinterest exemplifies persistence; he iterated on his product for a year and a half, focusing on user feedback to achieve success.
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Ron Conway
10/27/13
@ Y Combinator
I didn't discover Pinterest; my team recognized its potential, and I was impressed by Ben Silbermann's calm and thoughtful approach as a founder.
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Ron Conway
10/27/13
@ Y Combinator
Successful entrepreneurs like Zuckerberg, Dorsey, and Silbermann focus on building great products and prioritize user satisfaction over external distractions.
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Ron Conway
10/27/13
@ Y Combinator
I help startups with hard projects, often related to funding or M&A transactions, leveraging my network to bootstrap their growth. Founders often make the mistake of not focusing enough on finding investors who can add significant value to their company, prioritizing valuation and dilution instead.
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Ron Conway
10/27/13
@ Y Combinator
In fundraising, securing a top-tier investor who adds value can be worth millions to your company's valuation, as seen with Airbnb's experience.
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Ron Conway
10/27/13
@ Y Combinator
It's crucial to keep the fundraising process moving quickly by getting a term sheet as soon as possible, as investors tend to delay decisions.
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Ron Conway
10/27/13
@ Y Combinator
Once you have any indication of an agreement, send a confirming email to commit the investor to that agreement, ensuring clarity and accountability.
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Ron Conway
10/27/13
@ Y Combinator
Decisiveness is vital for founders; they need to make quick decisions about hiring and firing to maintain momentum and morale within their company.
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Ron Conway
10/27/13
@ Y Combinator
A clear vision is essential for entrepreneurs, as it influences their ability to attract talent and build effective teams.
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Ron Conway
10/27/13
@ Y Combinator
Founders must recognize their deficiencies and build a strong management team around them to ensure the company's growth and success.
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Ron Conway
10/27/13
@ Y Combinator
The startup climate today is significantly better than in the past, with lower costs for starting a company and more investors willing to take risks.
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Ron Conway
10/27/13
@ Y Combinator
The shift from algorithm-based intellectual property to user design and user interface as the key to application success reflects major changes in the tech landscape.
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Ron Conway
10/27/13
@ Y Combinator
Watching entrepreneurs mature rapidly as they manage growing companies is one of the most satisfying aspects of being an investor.