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

💡📈 Stellar Startups Pitch for a Bright Future: Solar Solutions on Stage! ☀️🏙️ #shorts

16 Apr 2024 · 1 min

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0:35

Tim Draper watches a solar startup pitch. The founders take a 1% commission on roughly $500,000 in annual sales per user, but admit they're lost on product and don't understand what investors want from them.

Our revenue actually comes from a 1% commission. So if I was to give you unit economics, for every one user who does about $500,000 of sales annually, we take a 1% commission.
Who is that one customer and why are they using your service?
It's basically for every one user.
Right, it says one user.
Right, yeah, it's one user. So I'm just giving you unit economics. We are so lost in our product, we're so lost in our work, we're so lost in our ways of doing things. We need to see from the investor's point of view what exactly is it that they're expecting.