Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

Business Quiz - did you know these? #shorts

24 Jun 2024 · 1 min

Watch on YouTube

0:49

In this brief YouTube short, two speakers engage in a rapid-fire quiz where Speaker A asks Speaker B to define common startup and venture capital terms. The dialogue covers the meanings of MVP (Minimum Viable Product), VC (Venture Capital), KPI (Key Performance Indicator), CAC (Customer Acquisition Cost), and briefly mentions EBITDA. The exchange is informal and conversational, aiming to test and reinforce basic business vocabulary for entrepreneurs and investors.

Max, I'm gonna quiz you. Hey, let's do it. Do you know your app? What's an MVP?
An MVP is the most viable product. You get it, I invest in your seed round. Okay. It's minimum viable product.
Minimum viable product. I'm sorry, sorry. VC.
VC, venture capital. That's what everybody knows it as.
KPI.
KPI. Key performance indicator.
Yes. CAC.
CAC is customer acquisition cost. You want to keep that very low.
This is a long one. EBITDA.
A bit da, but we're investing companies that don't have that much cash flow, so we don't tend to look into this. But if you're a later stage investor, it's earning before interest, it's taxes, depreciation, and amortization. But that's for the investment bankers of the world. We don't care. Yeah, boy.