Product Market Fit [Andy Rachleff]

<p>Listen to Village Global: <a href="https://www.listennotes.com/podcasts/village-globals/andy-rachleff-on-investing-YaXZIM2WHuj/">https://www.listennotes.com/podcasts/village-globals/andy-rachleff-on-investing-YaXZIM2WHuj/</a> (15 mins in)</p><ul> <li>Don Valentine<ul> <li>If a startup can screw something up it will</li> <li>only way it can succeed is if the market pulls the product out of its hands</li> </ul> </li> <li>Steve Blank: <ul> <li>Value hypothesis (what are you building, for whom is it relevant, whats your business model)</li> <li>THEN Growth hypothesis (acquire customers cost effectively)</li> </ul> </li> <li>Almost no company succeeds with its original value hypothesis - they succeed and then they revise history</li> <li>Great tech companies don't start by evaluating the market and coming up with solutions<ul><li>They observe an inflection point in tech that allows them to build a product, then figure out what they can do with that</li></ul> </li> <li>iterate on the who, don't iterate on the what<ul> <li>most people change product - you lose insight on tech differentiation</li> <li>iterate on the customer base to find what you have to offer</li> <li>find desperate people - they dont say maybe, they say WHEN CAN I HAVE IT</li> </ul> </li> </ul>