NYTech Week - Thoughts
New York Tech Week by a16z.
Think about it like the SXSW of startups and tech but spread out across Manhattan.
I've spent all week running from venue to venue, meeting new folks, hearing new ideas, and getting the lay of the land on startups, finance, and even a bit of security.
Below, a breakdown of some events I attended and my thoughts:
How to Raise a Series A, hosted by SVB
Very valuable panel discussion on raising an A in today's market. It was a great breakdown of how things have changed:
Revenue and growth requirements have blasted through the ceiling (think 3-5M rather than 1M, and 5-6X rather than 2X)
Much more openness to solo founders. But also an unapologetic mention of solo women founders being asked to hire a male "engineer co-founder" (and I screamed inside my head for every woman founder I know).
AI changing the definition of an "old" startup (2+ years has some stink)
Updated timeline expectations for a raise (1 month still ideal, but after 6-9 months of courting)
ARR You Kidding Me hosted by Rillet, Brex and Armanino
Comedy show geared towards finance professionals. Got the chance to chat with a lot of other startup CFOs and get a nice lay of the land on the job market/role dynamics right now.
Lots of churn in the F-Suite. I spoke with lots of folks currently looking or new to a role.
The fractional space is getting some more of the recognition it deserves. Often, these events exclude fractionals, so it was great to meet others with mature firms.
As I've come to expect from Rillet, the content was actually funny!
Who Will Defend the Internet? hosted by Girls Who Code
The talent crisis in cybersecurity is a longstanding problem. This panel discussion provided a view into youth perspectives on job prospects, what we need to foster new talent, and how to keep kids safe on the internet.
This was a great discussion, but attendance was a bit low on this one and I didn't meet any other security industry folks. Made me realize we should do a better job of engaging the security community for NY Tech Week.
Young people see innovations like Mythos and think that cybersecurity jobs are going away. In reality, security is one of the few industries I think will have the MOST staying power, due to the nuance and complexity, and to the fact that every tech innovation sets us back to square one.
CFO Breakfast hosted by a16z and Concourse
A very investor-led discussion on implementing AI at growth-stage startups. Interesting to hear what expectations are from the other side of the table:
A lot of "just do it" mentality. CEOs need to ask for ambitious goals (close the books in a day), and the team will need to use AI to make it happen
Again, investors are looking for very different growth stories in the age of AI. The hypergrowth trends of a couple star players have changed the standards for the rest of us.
Recognition that AI is making the CFO role harder: While we wait for real efficiency gains from AI, we suffer from the AI learning curve time-sink.
Pitch and Run!
Hands down, my favorite series of events during Tech Week. Meet other founders and investors while running ~4mi. What's not to love?
Meet at 7:30am in Prospect Park, share name and what we're grateful for, run and chat for ~45 min, then grab coffee around the corner.
I run with this group every week, but Tech Week is our biggest turnout - so many new faces and startups!
Tech Week last year was my first time running with the group, so this Tuesday was a real full-circle moment!
Highlight this week: We asked VC Jay Sehgal to pitch us his investment thesis while running up Zoo Hill... this may become a new investor PNR initiation ritual :)
There were many other events over the weekend too but THIS nerd needed at least 2 days of convalescing in a pottery, Stardew Valley, and dog snuggles-shaped hole after this social gauntlet week...
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