Last week, we attended The Startup Conference located in the heart of Silicon Valley. Speakers included successful entrepreneurs such as David McClure and Justin Kan, and media outlets TechCrunch, CNET, and AllThingDigital were on the scene. The highlight of the conference was the pitch competition in which startup founders competed for best elevator pitch.

The RingCentral team made plenty of friends, especially since we were giving away our popular retro headsets that connect to your smartphone. We also interviewed several attendees, who provided insights on the state of startups in 2012. Watch the video above for commentary from folks including Rafe Needleman of CNET and venture capitalist Tim Draper (who sings for a retro phone).

You weigh in: what’s an observation, prediction, or tip you have about the startup scene today?