Garry Tan

Garry Tan quotes on how to pich

Founder Initialized. PM/designer/eng turned Forbes Midas List Top 100 VC in startups worth over $40B, before product-market fit.

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1

When choosing a startup idea, you must be able to check either of these boxes [ ] Truly novel (nobody else has tried) [ ] 10X better product The absolute best check both. 99% of startups check neither. A good pitch is sometimes a strong story explaining how to get the 1st ☑️

2

Investors at early stage are usually willing to take one of the two: team/execution risk (Can they build and scale it?) or market risk (Do people want it/can it grow quickly?) —If you’re pitching, you should know which risk you are asking investors to believe you can overcome.

3

Basic building blocks of a pitch: 1/ What is it? What problem does it solve? Can you explain it simply? Is it something people want? 2/ Is it working? Traction, stats, stories about users wanting it. 3/ How big could it actually be? Can this be the winner? Moats/network effects.

4

It’s always a bad sign when 5 min into a conversation, it turns into a buzzword signaling competition. Startups are best explained using plain English and first principles. It’s too easy for emperor-has-no-clothes situations to crop up when it’s an abstraction house of cards.

5

Speaking faster and saying more words is like taking a trip with a big suitcase and filling it with lots of things you don’t need and forgetting some things you do. Better to take a small suitcase with just the things you need. Better to speak slowly and say only what you must.

6

Founders beware: Tossing buzzwords like blockchain or AI in a pitch without real use cases will turn off good investors and attract the dumb

7

Subtle real advantage nobody talks about: if founders can access deeper pools of capital early/quickly, they can get bigger faster without spawning lots of competitors. If your startup is real, pitching Sand Hill is sometimes like giving away copies of your treasure map

8

Founders— don’t get pitch advice from too many folks, or you’ll have a frankenpitch. Also ignore advice from your rando I-banker friends.

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