Startup pitch competition: Jason invests $25K live! | E1709 | Summary and Q&A

TL;DR

Founders pitch their startups for a chance to win a $25,000 investment, with ideas ranging from a video time capsule app to a self-insurance platform.

Key Insights

• 👥 The importance of building a strong team, iterating on ideas, and receiving feedback from users is emphasized throughout the event.
• 😥 All three startups showcased unique products and addressed specific pain points, demonstrating innovation and potential for growth.
• 😀 Each startup faced different challenges, from competition in the market to finding a scalable business model.
• 🆘 The program, Founder University, provides a supportive community and practical knowledge to help founders navigate the startup journey.
• 👨‍💻 The pitches highlighted the resourcefulness and adaptability of founders, with some being non-technical individuals who learned to code and build their own products.

Transcript

hey everybody it's another awesome show for you today we're gonna do founder pitches for twenty five thousand dollars I got such an amazing response from you all the YouTube comments were on fire you loved episode 1703 where we had four Founders from the founder University program pitch me for two or three minutes and take some questions about thei... Read More

Questions & Answers

Q: How does the video time capsule app work?

The video time capsule app, called Capsule, allows users to record and schedule video messages to be sent to loved ones in the future. Users can create personalized capsules and share them at specific moments in time.

Q: How does the project planning platform, Architask, leverage AI?

Architask uses generative AI and semantic search models to help users with project planning. The platform suggests tasks and estimates based on historical data and allows for easy task selection and project composition.

Q: How does the self-insurance platform, Open Insure, address governance and potential abuses?

Open Insure initially used a direct democracy approach for claims, but is now considering a third-party adjudication service to provide unbiased recommendations. This helps prevent potential abuses and ensures fair decision-making.

Q: What is the timeframe for achieving revenue milestones in Open Insure?

The revenue model for Open Insure includes investing deposited premiums for returns and charging a fee for hosted adjudication. Achieving revenue milestones such as $10 million or $100 million would depend on user adoption and growth, which are challenging to predict at this stage.

Summary

In this video, the host showcases three founder pitches for a chance to receive a $25,000 investment. The first founder pitches Capsule, a social app that allows users to capture and share video time capsules. The second founder presents Architask, a project planning platform that uses a data-driven approach to streamline the planning process. The final founder introduces Open Insure, a self-insurance platform that enables users to save money by organizing self-insurance groups.

Questions & Answers

Q: What is Capsule and how does it work?

Capsule is a social app that allows users to create video time capsules to be shared in the future. Users can record meaningful videos and schedule them to be sent to recipients on specific dates. These videos are encrypted and stored in the cloud until they are unlocked and viewed by the recipient.

Q: How many users does Capsule currently have?

Capsule currently has over 200 users and is growing steadily. They recently released a new update and re-engaged users, resulting in a monthly active rate of around 120-130 users.

Q: What is the background of the founder of Capsule?

The founder of Capsule has a marketing background and taught himself how to code in less than 100 days to build the initial version of the app. He continues to iterate and improve the product based on user feedback.

Q: How does Architask redefine the project planning process?

Architask takes a data-first approach to project planning by utilizing an organization's historical planning data to streamline the process. It suggests project titles and provides task recommendations based on similar past projects. Users can select tasks from generated and historical options, reducing the time it takes to create a project plan.

Q: How do users decide on tasks and estimates within Architask?

Users can browse through the generated and historical task options provided by Architask and select the ones they need for their project. The platform also provides estimates for these tasks to assist users in planning their projects.

Q: How many users are currently using Architask?

Architask has gained 12 new users since the last pitch, resulting in a total of 300 new visitors to the platform. These users have shown interest and signed up to explore the capabilities of Architask.

Q: What is the background of the founder of Architask?

The founder of Architask is a software engineer and has over a decade of experience in shipping AI products. He previously collaborated with a lab at Stanford to leverage AI in increasing the productivity of clinical researchers.

Q: What problem does Open Insure solve?

Open Insure aims to help people save money by providing a self-insurance platform. It allows individuals to organize self-insurance groups with friends or family to cover expenses like cell phone insurance. This bypasses commissions and overhead costs, resulting in more cost-effective coverage.

Q: How does Open Insure work?

Open Insure enables users to contribute monthly premiums to their self-insurance pool. These premiums are either used to pay out claims or returned to users at the end of a period. Users can submit claims and the group agrees on the payout, either through a direct democracy vote, representative democracy, or a hosted adjudication service.

Q: How many users are currently using Open Insure?

Open Insure has gained 12 new users since the last pitch, bringing the total number of users to around 14. These users have shown interest in the self-insurance platform and have signed up to explore its features.

Q: What is the background of the founder of Open Insure?

The founder of Open Insure is a software engineer who works at a startup called Bold Voice. He has experience in building software products and has been responsible for significant growth in user ratings for their app.

Takeaways

These three founder pitches showcase the diverse ideas and solutions emerging in the startup landscape. Capsule offers a social app to capture and share video time capsules, Architask provides a data-driven platform for efficient project planning, and Open Insure introduces a self-insurance platform for individuals to save money. Each pitch presents unique opportunities for growth and investment.

Summary & Key Takeaways

• Founders pitch their startup ideas in a quick two-minute presentation, showcasing their unique products and visions.

• Various startup ideas are explored, including a social app for video time capsules, a project planning platform, and a self-insurance platform.

• The importance of building a strong team, focusing on product development, and receiving user feedback is highlighted throughout the event.