diff --git a/.gitignore b/.gitignore index cc94bff3..ef1eca94 100644 --- a/.gitignore +++ b/.gitignore @@ -162,6 +162,9 @@ cython_debug/ *.mp4 summary.txt transcript.txt +transcript_timestamps.txt +*.html +*.pkl *.ini test_samples/ *.wav \ No newline at end of file diff --git a/42min-StartupsTechTalk-AGENDA-FULL.txt b/42min-StartupsTechTalk-AGENDA-FULL.txt deleted file mode 100644 index 8ad3ff1c..00000000 --- a/42min-StartupsTechTalk-AGENDA-FULL.txt +++ /dev/null @@ -1,47 +0,0 @@ -AGENDA: Most important things to look for in a start up - -TAM: Make sure the market is sufficiently large than once they win they can get rewarded -- Medium sized markets that should be winner take all can work -- TAM needs to be realistic of direct market size - -Product market fit: Being in a good market with a product than can satisfy that market -- Solves a problem -- Builds a solution a customer wants to buy -- Either saves the customer something (time/money/pain) or gives them something (revenue/enjoyment) - -Unit economics: Profit for delivering all-in cost must be attractive (% or $ amount) -- Revenue minus direct costs -- Raw input costs (materials, variable labour), direct cost of delivering and servicing the sale -- Attractive as a % of sales so it can contribute to fixed overhead -- Look for high incremental contribution margin - -LTV CAC: Life-time value (revenue contribution) vs cost to acquire customer must be healthy -- LTV = Purchase value x number of purchases x customer lifespan -- CAC = All-in costs of sales + marketing over number of new customer additions -- Strong reputation leads to referrals leads to lower CAC. Want customers evangelizing product/service -- Rule of thumb higher than 3 - -Churn: Fits into LTV, low churn leads to higher LTV and helps keep future CAC down -- Selling to replenish revenue every year is hard -- Can run through entire customer base over time -- Low churn builds strong net dollar retention - -Business: Must have sufficient barriers to entry to ward off copy-cats once established -- High switching costs (lock-in) -- Addictive -- Steep learning curve once adopted (form of switching cost) -- Two sided liquidity -- Patents, IP, Branding -- No hyper-scaler who can roll over you quickly -- Scale could be a barrier to entry but works against most start-ups, not for them -- Once developed, answer question: Could a well funded competitor starting up today easily duplicate this business or is it cheaper to buy the start up? - -Founders: Must be religious about their product. Believe they will change the world against all odds. -- Just money in the bank is not enough to build a successful company. Just good tech not enough -to build a successful company -- Founders must be motivated to build something, not (all) about money. They would be doing -this for free because they believe in it. Not looking for quick score -- Founders must be persuasive. They will be asking others to sacrifice to make their dream come -to life. They will need to convince investors this company can work and deserves funding. -- Must understand who the customer is and what problem they are helping to solve. -- Founders aren’t expected to know all the preceding points in this document but have an understanding of most of this, and be able to offer a vision. \ No newline at end of file