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VH to YC Founders: Ping us if you want additional help with your term sheets
- pg 19y agoI wish the most promising startups got snatched up on demo day. In fact investors are so slow that even the most eager generally take around a week to put together a term sheet. My hope is that as t approaches infinity, demo day will approach an auction. But t is still pretty far from infinity.
- aston 19y agoI would imagine you have some influence here. You could require investors to get word out to people within a short deadline or face the penalty of non-participation in the first funding round and potentially a disinvite to future demo days. Maybe too harsh, though.
- pg 19y agoI sometimes tell investors that kind of thing. And certainly they know that if they maltreat any YC startup, they won't get any more deals in the future. But the thing that really motivates investors (and acquirers) is competition. That's why we try to bring so many investors to demo day. (Today there are so many coming that we had to get a tent for the founders to stand in while they're not presenting, because there's not really room for everyone in the building.)