The number one problem companies have during the Y Combinator interview is that a minute into the interview, we don't know what they do. It's the same problem with the application. You might think we're experts, but you still have to explain it to us.
No matter what business you're in, everyone in the organisation needs to know why
If you must use more than ten slides to explain your business, you probably don't have a business.
As a company itself, Apple is very easy to understand. They're really not a complex company.
I am not a big fan of investors asking for revenues upfront. Investors seeking numbers are being too myopic. However, I personally believe in creating a product with clarity in mind on how one thinks revenues can trickle in.
If you're going to run a public company, be absolutely certain of what the parameters are, what the clarity is, that you can explain it to yourselves and explain it externally.
If people aren't clear on what business you're in, what you're trying to accomplish, your values, your goals, then shame on you. It doesn't mean you shouldn't involve them. It's just your responsibility to make sure that that's clear.
It's okay to be misunderstood - as long as you're not misunderstood by your consumers.
Business isn't complicated; we complicate business.
If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.
There's so many ups and downs, and there's so many pieces to trying to build a business, and if the intention isn't very, very clear and the business isn't reflecting that intention, then it makes it much harder.
