Kevin Rose, True Ventures on what it takes to make great prod, shares ex's of founders w/big ideas | Summary and Q&A

TL;DR

Most companies pitch small iterations of existing products, but investors are attracted to founders with big, bold, and novel ideas.

Key Insights

• 📞 Most pitches received by investors are incremental improvements or modifications of existing products.
• 🎁 Investors are attracted to founders who present bold and novel ideas that have the potential to bring about significant change.
• 🤖 The example of Double, a bot acting as a personal body double, highlights the interest in combining data and personal interactions.
• 🤔 Creativity and innovative thinking are valued qualities in founders but must also be accompanied by a realistic execution plan.
• ⚖️ Identifying an investable founder requires a balance between audacious creativity and practicality.
• 🤔 Surrounding oneself with visionary founders who think outside the box can be inspiring and lead to unique investment opportunities.
• 🍝 Distinguishing between visionary founders and those with impractical ideas can be challenging but involves careful assessment of their past accomplishments and their ability to execute on their vision.

Transcript

I think I'm sure you see this as well and that when you're pitched various different companies they tend to be almost 90 percent of the stuff I see is a small iteration or change of an existing product it's really not that kind of like it's been talked about before but that order of magnitude improvement are there really truly novel idea so things ... Read More

Questions & Answers

Q: What types of companies and ideas do investors tend to see in pitches?

Investors commonly come across pitches that offer minor modifications or enhancements to existing products, lacking substantial innovation or novelty.

Q: What types of ideas excite investors the most?

Investors are particularly attracted to founders who present big, bold, and seemingly crazy ideas that have the potential for significant impact or disruptive change.

Q: Can you provide an example of a bold idea that caught your attention recently?

Recently, Ryan Hoover introduced a founder who had created Double, a bot that acts as a person's body double, enabling others to have conversations with it, showcasing the potential for innovative personal interactions.

Q: How can investors distinguish between visionary founders and individuals with impractical ideas?

Assessing the credibility and potential of founders is a challenge, but investors look for a balance between audacious creativity and the ability to execute within a realistic vision.

Summary & Key Takeaways

• Many pitches received by investors are minor modifications of existing products, lacking significant innovation.

• However, investors are drawn to founders who present bold and seemingly crazy ideas that have the potential for major breakthroughs.

• An example is the creation of a bot called Double, which acts as a personal body double and can hold conversations with others on behalf of an individual, showcasing the potential for combining data and personal interactions.