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