Lenny Distilled

Todd Jackson

Partner, First Round Capital

6 quotes across 1 episode

A framework for finding product-market fit

She was completely manual. She was the one behind the email address posing as the AI, but doing it herself.

If you talk to enough people and you can predict 70 to 80% of what the next person is going to say to you, because you've just talked to so many people and you've heard the pattern so clearly, that's when you've talked to enough people.

Finding product-market fit is the single most important thing that your startup does in the first three years, and it's just underexplored and it's just underexplained as a topic.

Extreme product-market fit is a state of widespread demand for a product that satisfies a critical need and crucially can be delivered repeatably and efficiently to each customer.

You don't want to get friend-zoned by your customers, where your customers like you, but they don't love you and they don't need you.

You see a lot of startups kind of do this. They're basically with their products, giving away $2 for $1 and it gets them pretty far. But that's not real product-market fit.