I saw the news that TechCrunch launched a service called Elevator Pitches yesterday. The "elevator pitch" is supposedly a short quick pitch that you could deliver in an elevator. My partner Brad claims that the first time he met Dave Morgan, founder of TACODA and Real Media, it was in the mid 90s in an elevator in a hotel and that Dave had to follow Brad into breakfast in order to finish the pitch. But I digress.
Bambi Francisco also has started a company focusing on elevator pitches, called vator.tv. Here's a vator.tv episode where our portfolio company, Disqus, pitches. As you can see, Daniel has mastered the speed and brevity of the elevator pitch.
A good elevator pitch is incredibly useful to a venture investor. It gives us the opportunity to see how well an entrepreneur can pitch his or her idea in person. It's one thing to put something down on paper, but another thing entirely to present it face to face.
Just this week, in our "monday meeting", Andrew said that in evaluating a new opportunity that had come in, he was able to see the entrepreneur in a short web video and that he found that very useful.
So here is my suggestion to Mike and Erick and the TechCrunch team. Merge Elevator Pitches with CrunchBase. We are already using CrunchBase as our primary source of company information. Most opportunities that come in to our firm have a CrunchBase entry. If they also had a short elevator pitch, then we probably wouldn't even need to see an executive summary.
Say what you will about Mike's style of journalism, he's building a very interesting set of assets at TechCrunch.