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Waverly Deutsch

👤 Speaker
1050 total appearances

Appearances Over Time

Podcast Appearances

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

But if they haven't done the research, if they haven't figured out what the analogs tell them, if they haven't interviewed the customers, if they haven't attempted the exercises, experiments in social media marketing that will help them figure out what their customer acquisition cost is going to be, if they haven't done the work... The meeting with the investor is going to be a disaster.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

But if they haven't done the research, if they haven't figured out what the analogs tell them, if they haven't interviewed the customers, if they haven't attempted the exercises, experiments in social media marketing that will help them figure out what their customer acquisition cost is going to be, if they haven't done the work... The meeting with the investor is going to be a disaster.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

I'm actually writing a book right now. It's called Fix Your Pitch, An Entrepreneur's Guide to Winning Coffee Dates with Investors. And I use the dating analogy, the dating metaphor throughout the book to say, you're not creating a pitch deck. You're not creating a 10-minute presentation. You're not creating a story. Because someone's going to hear your 10-minute pitch deck and write a check.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

I'm actually writing a book right now. It's called Fix Your Pitch, An Entrepreneur's Guide to Winning Coffee Dates with Investors. And I use the dating analogy, the dating metaphor throughout the book to say, you're not creating a pitch deck. You're not creating a 10-minute presentation. You're not creating a story. Because someone's going to hear your 10-minute pitch deck and write a check.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

You're writing this pitch deck. You're creating this story. You're creating this messaging in order to intrigue somebody to want to know more, to have a conversation with you. You can think of the new venture challenge, 10 minutes to pitch, 15 minutes to answer Q&A, like a half an hour coffee date. You've got to get the dinner date.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

You're writing this pitch deck. You're creating this story. You're creating this messaging in order to intrigue somebody to want to know more, to have a conversation with you. You can think of the new venture challenge, 10 minutes to pitch, 15 minutes to answer Q&A, like a half an hour coffee date. You've got to get the dinner date.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

You've got to get invited to that one hour meeting with the partners. And you don't get invested in after the dinner date. There's a courtship. Are you right for me? Am I right for you? Do the economics make sense? Does the market make sense? Does our partnership make sense? A term sheet is just an engagement ring. We still haven't decided to consummate the relationship.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

You've got to get invited to that one hour meeting with the partners. And you don't get invested in after the dinner date. There's a courtship. Are you right for me? Am I right for you? Do the economics make sense? Does the market make sense? Does our partnership make sense? A term sheet is just an engagement ring. We still haven't decided to consummate the relationship.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

That's when the contracts are signed and the checks in the bank. And guess what? You are now married to that investor. They now have a say in your business the way your spouse has a say in your life, right? If marriage is still death to us part, an investment is still exit to us part. AI is never going to be able to build those kinds of human relationships.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

That's when the contracts are signed and the checks in the bank. And guess what? You are now married to that investor. They now have a say in your business the way your spouse has a say in your life, right? If marriage is still death to us part, an investment is still exit to us part. AI is never going to be able to build those kinds of human relationships.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

AI is never going to substitute for the homework you have to do to tell a good story that begins that conversation, that begins that relationship. It might help you improve the writing of that story. It might help you clean up your deck, but it's never going to build that story for you. I think the smart people in AI are starting to talk about AI-human partnership.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

AI is never going to substitute for the homework you have to do to tell a good story that begins that conversation, that begins that relationship. It might help you improve the writing of that story. It might help you clean up your deck, but it's never going to build that story for you. I think the smart people in AI are starting to talk about AI-human partnership.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

How does our job evolve to use AI to make us better The human brain, we've already talked about this, is firing off billions of neurons. There's no computer that's doing the magnitude of what the human brain is doing. Quantum computing maybe has the potential to deliver some of that, but for the foreseeable future, generative AI needs to be a human partner, not a human replacement.

Chief Change Officer
#124 Waverly Deutsch’s Coaching Wisdom: 22 Years of Love, Logic, and AI at Chicago Booth

How does our job evolve to use AI to make us better The human brain, we've already talked about this, is firing off billions of neurons. There's no computer that's doing the magnitude of what the human brain is doing. Quantum computing maybe has the potential to deliver some of that, but for the foreseeable future, generative AI needs to be a human partner, not a human replacement.

Chief Change Officer
#123 From Curtain Calls to Business Cases: Waverly Deutsch’s Path from Theatre Historian to Chicago Booth Professor

Wow, what an interesting question to start with. I think a lot of people gravitate towards one or the other. And what I mean by that is we are taught that we have a right brain and a left brain. Our right brain is rational and our left brain is emotional. But people have both sides of their brain and they're using both sides of their brain. So for me, the way this manifested as a child

Chief Change Officer
#123 From Curtain Calls to Business Cases: Waverly Deutsch’s Path from Theatre Historian to Chicago Booth Professor

Wow, what an interesting question to start with. I think a lot of people gravitate towards one or the other. And what I mean by that is we are taught that we have a right brain and a left brain. Our right brain is rational and our left brain is emotional. But people have both sides of their brain and they're using both sides of their brain. So for me, the way this manifested as a child

Chief Change Officer
#123 From Curtain Calls to Business Cases: Waverly Deutsch’s Path from Theatre Historian to Chicago Booth Professor

I fell in love with theater. I fell in love with performance. I fell in love with acting. I fell in love with theater. My mother and I would go to the theater together. It was a very special time for us. But at the same time, I was good at math and logic puzzles. And people would say, were you good at computer science? You have to remember, I'm fairly old.

Chief Change Officer
#123 From Curtain Calls to Business Cases: Waverly Deutsch’s Path from Theatre Historian to Chicago Booth Professor

I fell in love with theater. I fell in love with performance. I fell in love with acting. I fell in love with theater. My mother and I would go to the theater together. It was a very special time for us. But at the same time, I was good at math and logic puzzles. And people would say, were you good at computer science? You have to remember, I'm fairly old.

Chief Change Officer
#123 From Curtain Calls to Business Cases: Waverly Deutsch’s Path from Theatre Historian to Chicago Booth Professor

We didn't have computers when I was growing up. As I was approaching my college years, And really thinking about what I wanted to do in college. I had done so much in high school with theater and so much in high school with many other subjects, economics, psychology, math. I went to an excellent high school. And I was approaching my college years thinking I still want to do theater.

Chief Change Officer
#123 From Curtain Calls to Business Cases: Waverly Deutsch’s Path from Theatre Historian to Chicago Booth Professor

We didn't have computers when I was growing up. As I was approaching my college years, And really thinking about what I wanted to do in college. I had done so much in high school with theater and so much in high school with many other subjects, economics, psychology, math. I went to an excellent high school. And I was approaching my college years thinking I still want to do theater.