Summary of The Real Product Market Fit by Michael Seibel

00:00:00 - 00:10:00

The video discusses the importance of finding a market for your product and being able to generate revenue from it. Once you have found product market fit, you can keep growing and solving customer's problems while generating profits.

• 00:00:00 The video discusses the concept of "product market fit," which is when a startup has found a market for its product and is able to generate revenue from it. Most founders incorrectly believe that company building (hiring employees, creating a great culture, etc.) is what creates success, when in reality, it is actually solving the customer's problem that makes them buy the product. Once a startup has found product market fit, it is able to keep growing and solving customer's problems while generating profits.
• 00:05:00 In this video, Michael Seibel discusses how product market fit is not a single variable problem and that it requires multiple variables in order to be successful. He also talks about how Socialcam wasn't product market fit and how they eventually found Twitch to be a better platform.
• 00:10:00 The video discusses how Justin.tv failed to achieve a product market fit, specifically citing that it took six years for the company to realize that its customer base was not sufficient. The video also discusses how some companies are successful despite taking longer to achieve a product market fit, and how being willing to put in the time and grind is essential for success.