What do elves learn in school?

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    News 2017.08.23 Cover

    First up, the definition of today’s buzzword:

    Product/Market Fit

    The degree to which a product satisfies a strong market demand. It has been identified as a first step to building a successful venture in which the company meets early adopters, gathers feedback and gauges interest in its product(s).

    (Source: Wikipedia)

     


     

    Moving on to today’s news in the Valley:

    Y Combinator

    Demo Day is an event where Y Combinator (YC) startups present their companies in front of an invite-only audience, which comprises venture capitalist investors and other professionals. This season’s two-day Demo Day wraps up for the 25th time in YC’s history.

    Past YC alumni include Airbnb, Dropbox, Stripe, and more.

    Some quick statistics:

    • 124 startup companies presenting
    • 28% international (non-US) startups
    • 12% female founders
    • 9.5% Black / Latinx founders

    With 124 companies presenting, it is the largest Demo Day YC has hosted yet.

    Considering that the world we live in is made up of roughly 50% males and 50% females, 12% female founders at YC S17 — while possibly a slight improvement — is still a disappointingly low percentage. It’s not one with which we should feel content at all.

    Hopefully we will see further progress in the next cohort and beyond.

    SpaceX

    Elon Musk reveals the first picture of the SpaceX spacesuit. In his Instagram post, he points out that the spacesuit is functional and is “not a mockup.”

    The picture was promised by Musk in an earlier Tweet, which says:

    “Pics of SpaceX spacesuit developed for NASA commercial crew program coming out next week. Undergoing ocean landing mobility/safety tests.”

     


     

    Lastly, answer to today’s brainteaser from the title:

    The elf-phabet!