About this episode
Listen to Village Global: https://www.listennotes.com/podcasts/village-globals/andy-rachleff-on-investing-YaXZIM2WHuj/ (15 mins in)
- Don Valentine
- If a startup can screw something up it will
- only way it can succeed is if the market pulls the product out of its hands
- Steve 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 history
- Great tech companies don't start by evaluating the market and coming up with solutions
- They observe an inflection point in tech that allows them to build a product, then figure out what they can do with that
- iterate on the who, don't iterate on the what
- most people change product - you lose insight on tech differentiation
- iterate on the customer base to find what you have to offer
- find desperate people - they dont say maybe, they say WHEN CAN I HAVE IT
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