You can't raise the networking opportunities nearly as easily. The social motivators to work like hell and launch as soon as possible are also worth more than the actual cash.
You know what's harder than getting motivated, and networking with successful entrepreneurs? Everything else about running a company.
With the caveat that you shouldn't really give a shit about what I think, my objection to this process is that it turns starting a company into yet another "thing you apply to", like college and grad school and a job at Google. Starting up is simultaneously much easier than YC can make it sounds like, and much harder.
I get your point from a sister thread. "Don't waste time on your application - build your product"
But I disagree. Here is why: expressing your idea is one form of product development.
Writing down your idea in a way that other people understand is absolutely essential. Similarly, practicing for demo day means getting the exact phrasing of a 7 minute talk absolutely perfect. That might seem like a waste of time, until you realize that you'll be able to pitch at the drop of a hat for the life of the company as a result.
>Similarly, practicing for demo day means getting the exact phrasing of a 7 minute talk absolutely perfect.
When I was a student of Toastmasters, I came across the treasure chest of dot-com era (2001) VC pitches from SpringBoard Enterprises ("Women-Capital-Connections").
I feel that many of the video clips of pitches in their Learning Center's Video Archive demonstrate the power of a confident, polished, professional, articulated pitch.
I'm happy to have found them again on Google. RealPlayer streams (Use Real Alternative instead of Real Player)
People spend a lot of time trying to sound slick for investors. You may find that customers are more forgiving of your rough edges. Either way, real investors are going to be a lot more convinced by your traction than your talk.
