Jared Friedman - Advice for Hard-tech and Biotech Founders
Video from Y Combinator. Watch on YouTube.
What you'll get
Y Combinator partner Jared Friedman explains what makes a company hard tech and why founders start one, then takes on two problems such companies share: how to launch a first version that is expensive to build, and how to show people want a product before it exists, through pre-sales and letters of intent, with examples from seven companies. It is aimed at hard tech and biotech rather than gear or housewares, so take its method of starting smaller and selling before you build, and read the fundraising section as advice for venture-backed companies.
Do this week
Write a one-page description of your product with its price, then ask five likely buyers to pay a deposit or sign a short letter saying they would buy at that price, and note how many say yes.