2025 shaped up to be a year on the rise for venture capital. Investments continued to grow, with almost $100 billion
But as I wrote in my
After reviewing thousands of decks this year, here are the 25 things the startup world should leave behind in 2025 when it comes to investor presentations:
- Overly complex financials - A deck is meant to highlight a story, not serve as a data dump. Keep it simple and focus on key metrics.
- Too much text - An overly busy slide detracts from its impact. Communication must be succinct. Use bullet points and visuals instead that easily communicate the information.
- No clear problem statement - If I can't immediately understand the problem you're solving, your solution won't matter. Lead with clarity, not mystery.
- Unrealistic projections - Overhyping and inflating projections may look exciting, but experienced investors see right through them. Be conservative and realistic. Credibility beats optimism every time.
- No competitive analysis - Show you know your competition. Pretending you exist in a vacuum doesn't inspire confidence, nor is it realistic. Demonstrate an understanding of the marketplace.
- Competitive landscapes with missing major competitors - Your deck doesn’t just need a competitive analysis; it needs to accurately represent the market. Make sure you’ve included all of the relevant players. Don’t be the startup that omits the 800-pound gorilla in your market. And please, never claim: “We have no competition.”
- Too many slides - Some investors review thousands of decks a year. Your deck needs to keep this in mind. It’s important to make an impression within a short timeframe. Keep it concise, 10-15 slides at a maximum.
- Excessive text or dense paragraphs If I can’t skim each slide in 3–5 seconds, it’s too much. Every slide should pass the glance test. See point number 2 on too much text.
- No unique value prop - Tell me exactly what sets you apart in a way that's defensible and meaningful.
- Poor design - How you present your information matters. You don't need a design agency, but you do need professionalism. Sloppy slides suggest sloppy execution. Keep it professional and visually appealing.
- No traction or progress - Ideas are cheap; execution is everything. Show me what you’ve achieved. Having a track record is essential to making an impression.
- Unclear business or inexistent model - A great idea that can't make money is a hobby, not a business. Explain how you generate revenue.
- No market size or potential - Investors need to see the path to meaningful scale. Showing the potential for growth, coupled with a proven business model, is critical.
- No team bios - Investors back people as much as ideas. Make sure you highlight key team members.
- A team slide without context - Don't just list names and titles. Tell me why each person is uniquely qualified to execute this specific vision.
- No contact info - This seems basic, but you'd be surprised. Always include clear contact information to make it easy to get in touch.
- Unrealistic market size - “$10T market, we just need 1%.” Quoting an audacious market size signals you don’t understand segmentation or customer acquisition. Do your research to properly size your addressable market.
- More than one idea / product in the pitch - A deck must tell one clear, sharp story. Don’t use it to pile on a portfolio of businesses that are seeking investment. If you're pitching multiple businesses, you're pitching none of them well.
- Vanity metrics - “500% growth in website visits.” It might be an impressive number, but if it doesn’t pertain to revenue or market share, it’s just noise. Stick to KPIs that demonstrate real traction.
- Buzzword soup (AI + Blockchain + Metaverse + Web3 = ???) - Filling a deck with buzzwords and trendy words screams inauthenticity. If you need more than two buzzwords to describe what you do, start over.
- Overly technical explanations - Leave the technical speak for your engineering team. Your investor pitch needs to be accessible, especially on the problem or product slides. This is not a whitepaper.
- Traction slides with percentages only - “300% growth” means nothing without context. Growing from 10 to 30 users is very different from 10,000 to 30,000.
- Hidden or confusing pricing model - If I can't understand how you make money within 10 seconds of looking at your business model slide, that's a red flag.
- NDA requests - Investors will not sign them. Asking for them signals you don't understand how fundraising works.
- A vague or missing “ask” slide - Be crystal clear: how much are you raising, what will you use it for, and how long will it last? Ambiguity here kills momentum.