Eric: Hi everyone. My name's Eric Migicovsky. I'm a partner here at YC. I actually started a company that went through Y Combinator back in 2011. I started a company called Pebble. We made one of the first smartwatches. I am really excited to be here to talk about talking to users because this is one of the perennial things that you always hear about as one of the critical factors in starting a company. The best founders maintain a direct connection to their users throughout the lifespan of their entire company. They maintained a direct connection because they need to extract information from their users at all different stages of running their company.
Adora: Okay. So he has one user, but he needs funds to deliver the amount of product that the user wants. I think there's a long answer to this. I'm trying to figure out the short answer. The long answer... Well, here's a short answer. There is a talk in Startup School from the last one with Eric Migicovsky, who is the founder of Pebble and he goes through all the steps that you should think about before you need funding so that you have enough proof when you do go to investors of what the show. But to more directly answer your question, I think what you wanna do is start getting more customers in the sense that not delivering the product, but in the sense of getting pre-sales or contracts. Because if you get more of... And it would be great if they are prepaid because getting it prepaid means that maybe you don't even need an investor to actually build the product. So try to do those pre-sales and pre-sales shows good demand, good demand investors love. It de-risks the whole entire thing for them and it would be much easier for you to do fundraising. If you can get the prepaid contracts as well, then maybe you don't even need...you're in a much better position with investors for sure, but maybe you don't even need them. All right. Yeah, right there.
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