The shift. One sentence: what changed in the world. No product. No company name in the headline.
The stakes. Who wins and who loses under the new rules. The slide where the room leans in or checks their phone.
The problem. The new winner criterion, stated as a problem the buyer feels today. Customer-voice phrasing if available.
The old way and why it fails. Name the incumbent approach. State the dimension on which it falls short of the new criterion. Do not insult the incumbent — explain its design assumption and why the shift broke it.
The new way. Name the new approach as a category, not a product. "We're building a [category] for [audience] in the era of [shift]."
The product. One screen, one workflow, one frame. The product is the proof of the category, not the category itself.
Traction or design-partner evidence. Revenue, users, retention, design partners, waitlist — in that priority. Real numbers only.
Market built bottom-up. Number of buyers × annual willingness to pay × adoption assumption, with the source for each. Top-down TAM goes in the appendix.
Business model. Pricing, unit economics, payback period. Coin sets these; you place them.
Team. One sentence per founder naming the earned advantage relevant to this problem.
The ask. Round size, runway it buys, three milestones it will produce.