The time I pitched to Dave McClure (co-founder PayPal, 500 Startups)

in #business8 years ago

The place was Mexico; the time… was right.

2015, I was at Campus Party Guadalajara, the biggest hackathon in the world. The person I pitched my startup to… I just didn’t know who he was in that moment.

But first, let me tell you how I got myself in that situation, to give you the full context and to best share my experience of Pitching to a total stranger that ended up being a millionaire member of the PayPal Mafia.

Image of PayPal Mafia

I’m running a bitcoin startup as co-founder/CEO, been doing so since 2014, and in 2015 we were trying to expand our network, therefore I started to attend to any event of entrepreneurs I could find in Monterrey. Any event would suffice really, we even went to informal parties or reunions and talked about the startup. In one reunion (we did a “Carne Asada”, spanish for a steak night reunion with beer and friends) I started to talk about bitcoin and one girl approached to me yelling how could I know about such thing (the obligatory “It’s used to buy things in the Deepweb right?” intro ensued.)

After explaining a bit of the potential that bitcoin holds for the future, the girl began to speak about her projects, most importantly regarding her role as ambassador for Campus Party in the north of the country. The talk took and unexpected turn as she began to show interest for me to go to Campus Party sponsored by the organizers.

She then forwarded me to of the main discovery managers and organizers of the event, and we began to talk remotely. He managed to give me and the startup a 2-day pass to present our project in a special designated area for startups. All of this from a Carne Asada + Bitcoin.

Image of Carne Asada

Fast forward 2 months and I was entering Campus Party 2015 with my team and my equipment, we installed everything on our designated place, and waited for the people to come and greet them, as well as for the main events.

I saw one event that seemed quite interesting and thought that I needed to be there, it was called Pitch Roast for Startups, and to enter you had to participate in a raffle between startups that were selected, like us. The Pitch Roast consists of a mentor that hears your five-minute pitch and then proceeds to mercilessly demolish you and your pitch… in order for you to improve. Unfortunately, we were not elected, but I decide to go to the event nonetheless.

When I arrived, the event was finished and the mentor was wrapping up things, still, I approached and talked to him. I said:

  • Me: Hello, my name is Humberto, do you have a minute to spare? I have a bitcoin startup and wanted to have your feedback?
  • Mentor: “I’m sorry I don’t have time; I have to be at another event…”
  • Me: “may I join you walking with you and that way you could hear my pitch?”
  • Mentor: “okay, let’s go.”

--- The one-minute pitch ensued ---

  • Me: “What do you think?”
  • Mentor: “I think it’s fine, although I’m not at a 100% regarding bitcoin, and also, I would recommend you talking with 500 startup Mexico.”
  • Me: “Thank you very much, would you recommend me?” (There’s a whole different meaning with that phrase in USA or Mexico. In the first country, it means that you’ve proven worthy with that person by collaborating effectively. In Mexico it just means: forward me an email to start communicating.)
  • Mentor: “Why the f**k would I recommend you?” (He went for the USA meaning of recommending)
  • Me: “Oh, because of the opportunities that may come?”
  • Mentor: “You haven’t work with me, so that’s a no.
  • Me: “Well, thank you for your time and listening, I will be contacting 500 Startups Mexico.”

After that I went to my startup booth, and opened my schedule for the events and speakers of the day. And then I saw it… in the event of the Pitch Roast appeared the name of the Mentor, being Dave McClure, co-founder of PayPal and founder of 500 startups.

Image of Carne Asada

It hit me like a bucket of ice pouring down my head. I pitched to Dave McClure, without hesitating, without any trace of fear or insecurity, I just didn’t know who he was after that event.

Endnotes

To wrap things up, what I learned from all of this odyssey is that we have to keep pushing forward to expand interpersonal skills and our net worth by improving our network. Also, I learned that talking to Dave McClure, is as easy as talking to any other human being, you just have to manage fear and realize that he is a mortal…
Put yourself out there, talk about your ideas and startups, each person will mix his essence with his feedback. Treasure the unbiased honest feedback, that’ll do for you wonders.

Thanks for reading :) If you liked this post please upvote me with the button below. It helps other people see this post.

P.D. My name is Humberto Quintanilla, and I am an inveterate socio-economic entrepreneur, believer of Bitcoin and fan of Tesla.

Hustle.

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Sounds awesome! Have you contacted the company he told you to? If so, any success with that yet? Good luck!

Yes I contacted them... Sorry for the delay in the answer. But I took a time to think on the options, and I decided that it was best to validate my project by creating an MVP, and go for the product-market fit phase. Gain validation and traction. After that I'm going to apply with my startup (now the team is bigger and the solution better) to the 500 Startup Program in Mexico. I will keep you updated regarding this. Thank you for your interest and the upvote!

really cool story bro!

Thank you ! It was really an awesome experience.

LOL, brilliant and well done for being fearless. Have you ever wanted to contact him again to explain that you were unawares of who he was and could you re-pitch? :)

hahah Thanks @jimbo for reading this post of mine. Well, no, i haven't tried yet. I feel it is not time to do it, until I built enough traction and being investor backed, so he could, hopefully, hope in as an investor too. I'd love to re-pitch though