Thanks! I've seen quite a few of these presentations and have never been able to get them to work. Naturally, I want to scroll with my trackpad and this works up through Slide 3. I didn't know you could use the keyboard to actually load more slides. I wish they'd fix this in the presenter software.
I found it very unsettling that there is no way to know how many slides were left -- I know that's probably github limitation, but maybe worth inserting summary/progress slides?
Could someone explain the "Your main differentiator is the market -> raise venture" vs "Your main differentiator is your advantage -> not raise venture" thing better?
Sure, this would be more clear if I had the audio to go along with it (which I should probably post too).
Basically, many (not all) successful venture-backed startups are creating new markets for themselves. Google wasn't successful because it was the best web portal - Google was successful because it rendered hierarchical web portals irrelevant. They created a new market that obsoleted an existing one.
In other words, if you're creating a market, you have a huge potential for upside. If you're entering an existing market with a superior product, that's possible, but more difficult.
These are all rough rules of thumb, of course, not hard-and-fast criteria.
so from a VC's pov, a company that could create a new market has more potential upside than one that could take over an existing market? ...seems a bit counter-intuitive because for an existing big market you know exactly how big it is, so there's no "market size related risk", whereas for a new market, there's a big risk that it will turn out to be a very small niche market. Isn't the optimization being made for something like [upside]/[risk], even if it's an intuitive estimate of course, with an important component of the [risk] being market related?
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Basically, many (not all) successful venture-backed startups are creating new markets for themselves. Google wasn't successful because it was the best web portal - Google was successful because it rendered hierarchical web portals irrelevant. They created a new market that obsoleted an existing one.
In other words, if you're creating a market, you have a huge potential for upside. If you're entering an existing market with a superior product, that's possible, but more difficult.
These are all rough rules of thumb, of course, not hard-and-fast criteria.