Product Market Fit [Andy Rachleff]

Listen to Village Global: https://www.listennotes.com/podcasts/village-globals/andy-rachleff-on-investing-YaXZIM2WHuj/ (15 mins in)Don ValentineIf a startup can screw something up it willonly way it can succeed is if the market pulls the product out of its handsSteve Blank: Value hypothesis (what are you building, for whom is it relevant, whats your business model)THEN Growth hypothesis (acquire customers cost effectively)Almost no company succeeds with its original value hypothesis - they succeed and then they revise historyGreat tech companies don't start by evaluating the market and coming up with solutionsThey observe an inflection point in tech that allows them to build a product, then figure out what they can do with thatiterate on the who, don't iterate on the whatmost people change product - you lose insight on tech differentiationiterate on the customer base to find what you have to offerfind desperate people - they dont say maybe, they say WHEN CAN I HAVE IT