Finding and maintaining product-market fit is essential for the success of a tech startup.

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  00:00

  Founders often mistake product market fit, leading to increased burn and misdirected product optimization.

  • Founders often mistakenly believe they have found product market fit when they haven't, leading to increased burn and misdirected product optimization.
  • People often incorrectly use the term "product market fit" when the real challenge is to solve the problem, not build the company.
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  01:45

  Orange is a defined term and should not be confused with other terms that sound similar.
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  02:15

  Once you find product market fit, it's almost like you're guaranteed success unless you screw it up.
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  03:49

  Growth can be profitable if you're careful to avoid negative margins and burning money.
• 🚀
  05:02

  Optimize for growth, retention, and profitability when building a tech startup, and be passionate about the problem you're solving to succeed.

  • Founders should optimize for growth, retention, and profitability when building a successful tech startup, as it is not a single variable problem.
  • You need to be passionate about the problem you're solving and comfortable with failure in order to succeed in product market fit.
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  07:24

  Socialcam had 16 million downloads in 4 months, but had no monetization and poor retention, indicating a lack of product-market fit.
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  08:57

  It took 6 years to find a customer base that could monetize our 30 million monthly viewers, due to changes in technology and lack of user feedback.

  • We had 8 million in revenue and 1 million in profit, but we weren't able to reliably monetize our 30 million monthly viewers and it took 6 years to find a customer base that could.
  • Everything was in place and then suddenly the meal arrived, like if you started Twitch in 2006 it probably wouldn't have worked.
  • Little things like webcams going from being something you had to buy extra to being built into every laptop can change things and had we been talking to our users more, we could have gotten there sooner.
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  12:02

  If you're willing to put in the time and grind it out, your chances of success increase and you don't have to die.