Chapters (Powered by ChapterMe) - 00:00 - Introduction 00:18 - Pivoting overview 00:28 - The term 'Pivot' 01:54 - Why pivot? 03:10 - Good reasons to pivot 04:10 - Good reasons not to pivot 04:49 - Why people take too long to pivot 06:45 - Little bit of traction thing 07:38 - Anecdotes 08:57 - Reminder about product market fit 10:10 - How to find a better idea 12:15 - Its OK to not work an idea that requires venture capital 13:10 - Venture vs non-venture scale ideas 14:28 - When is the best time to pivot 15:24 - More pivoting thoughts 16:42 - Idea quality scores 18:47 - Brex (YC W17) Overview 19:18 - Brex pre-pivot 20:19 - Brex post-pivot 21:29 - Retool (YC W17) overview 21:47 - Retool pre-pivot 22:31 - Retool post-pivot 23:14 - Magic (YC W15) overview 23:24 - Magic pre-pivot 24:00 - Magic post-pivot (news.ycombinator.com/item?id=9087819) 24:59 - Segment (YC S11) overview 25:13 - Segment pre-pivot 26:00 - Segment post-pivot 26:52 - In summary
Wonderful talk - "Only add people to your team, once you are sure that the idea is working, enough traction. A little traction is not enough for this."
This advice hits on me. I'm in a situation that I planned launching a startup this week but after talking to more users. I realized i'm not doing it right so I paused to pivot it.
Great content! In the end, it comes down to scoring each idea on Desirabilty - lost of people want it really bad? Feasability - can we start quickly & be the best tomorrow? Viability - can we make money & grow?
Note to self: 1. Find very *interesting and profitable* problems (or projects) to solve 2. Hire or work with very *smart and nice people* on problems (or projects)
Sooo much valuueeee, had to fucking pause and play and pause and rewind cuz i wanted to fucking hear and remember each fucking thing Dalton said. I am fan of this guy now.
The Brex pivot is crazy! These guys were probably thinking “lets do something crazy now we have some money out of fintech!”. Followed by “no F this lets head back in the comfort zone and build something huge and familiar! “
That's exactly what Henrique Dubugras said in a podcast lol first he thought building another Fintech Company would be too easy but that they just pivoted to it since they already knew everything about it.
Mainly good advice, and some great info. But... you’re a YC partner, and... like, no one has ever trained you in public speaking? You could be so much more powerful, dude.
Chapters (Powered by ChapterMe) -
00:00 - Introduction
00:18 - Pivoting overview
00:28 - The term 'Pivot'
01:54 - Why pivot?
03:10 - Good reasons to pivot
04:10 - Good reasons not to pivot
04:49 - Why people take too long to pivot
06:45 - Little bit of traction thing
07:38 - Anecdotes
08:57 - Reminder about product market fit
10:10 - How to find a better idea
12:15 - Its OK to not work an idea that requires venture capital
13:10 - Venture vs non-venture scale ideas
14:28 - When is the best time to pivot
15:24 - More pivoting thoughts
16:42 - Idea quality scores
18:47 - Brex (YC W17) Overview
19:18 - Brex pre-pivot
20:19 - Brex post-pivot
21:29 - Retool (YC W17) overview
21:47 - Retool pre-pivot
22:31 - Retool post-pivot
23:14 - Magic (YC W15) overview
23:24 - Magic pre-pivot
24:00 - Magic post-pivot (news.ycombinator.com/item?id=9087819)
24:59 - Segment (YC S11) overview
25:13 - Segment pre-pivot
26:00 - Segment post-pivot
26:52 - In summary
Wonderful talk - "Only add people to your team, once you are sure that the idea is working, enough traction. A little traction is not enough for this."
All the successful pivots mentioned in this talk have one thing in common - very high founder market fit score post pivot.
what about magic
This advice hits on me. I'm in a situation that I planned launching a startup this week but after talking to more users. I realized i'm not doing it right so I paused to pivot it.
How did it go? What happen to your startup?
Any update on your startup?
I really like your analogy with dice, Dalton - «it's much easier to be lucky when you get half a dozen shots on goal than one».
Great content!
In the end, it comes down to scoring each idea on
Desirabilty - lost of people want it really bad?
Feasability - can we start quickly & be the best tomorrow?
Viability - can we make money & grow?
These Y Combinator videos are priceless. Love 'em
I wished I found this video 3 years ago. Thanks for these videos!
Fantastic talk, one of the best I’ve ever seen!
Awesome video! It's interesting to find the happy median between not giving up and pivoting
EXCELLENT. Thank you for posting this. Also from such a respectable, experienced, trustworthy source! Awesome.
Note to self:
1. Find very *interesting and profitable* problems (or projects) to solve
2. Hire or work with very *smart and nice people* on problems (or projects)
Not sure how I missed this one. Great examples for the successful pivotes!
Sooo much valuueeee, had to fucking pause and play and pause and rewind cuz i wanted to fucking hear and remember each fucking thing Dalton said.
I am fan of this guy now.
Dalton’s awkward laugh is so pure
This material is magnificent.
When I hear Pivot, I think about Russ in Friends lol. Great video
This is golden.
I had an interview with Dalton for YC. Unfortunately did not get selected :-(
How’s your startup so far?
It just blow my mind ! :) Thank you
Awesome talk!
It's wise to move on a newer, more exciting ideas if it's better, faster to make than improve current idea.
how can people get accepted into YC when they haven't even had PMF? I'm so confused!
Great advice! Thank you 🙏🏼
Gold.
So with the original very low 1-10 scores for Brex, how did they get into yc in the first place? Gun founders or mistake..
Similar to the other companies?
The founders exited a $30m fintech previously
Does anyone have a link to the original magic hacker news post that Dalton mentions (around 24:05)?
I like startups ^^
"You know in your heart its not going to work"
yes
#MGMT1328885 I get this! Useful, simple and easy to understand. Yay! 1006
The Brex pivot is crazy! These guys were probably thinking “lets do something crazy now we have some money out of fintech!”. Followed by “no F this lets head back in the comfort zone and build something huge and familiar! “
That's exactly what Henrique Dubugras said in a podcast lol first he thought building another Fintech Company would be too easy but that they just pivoted to it since they already knew everything about it.
If youre reaaaaalllly innovating, it SHOULD not be super easy to ship.
👏👏👍
Ross from F.R.I.E.N.D.S should be able to explain better when it comes to pivoting.
close but... this guy is actually Ted Mosby from "How I Met Your Mother" ;)
Dalton really just talking about app.net . I remember the arrogance of his company.
I checked this out - I don't see Dalton on the "Team" page. Could you elaborate?
Mainly good advice, and some great info. But... you’re a YC partner, and... like, no one has ever trained you in public speaking? You could be so much more powerful, dude.