He did say that he had a product ready to demo but they didn't want to see it.
Selling yourself is almost as important as the idea, if you have the best idea in the world but you seem a bit wishy washy then no one is going to be interested, but if you can sell yourself and get them to believe almost anything is possible in your hands then you're in with a better chance.
I have seen PG and others on numerous occasions say they're interested in the smartest of people, some of whom may just have a bad idea and need mentoring in that regard.
It's a lot easier to point a smart/hard working person in the right direction
Selling yourself is almost as important as the idea, if you have the best idea in the world but you seem a bit wishy washy then no one is going to be interested, but if you can sell yourself and get them to believe almost anything is possible in your hands then you're in with a better chance.