The Real Product Market Fit by Michael Seibel

Рет қаралды 211,528

Күн бұрын

Michael Seibel is a partner and the CEO of YC. He cofounded Justin.tv, which was in the winter 2007 batch and Socialcam, which was in the winter 2012 batch. / mwseibel
In this video Michael comments on his essay The Real Product Market Fit blog.ycombinator.com/the-real...
The YC podcast is hosted by Craig Cannon - / craigcannon
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Topics
00:00 - The Real Product Market Fit
1:00 - Why do many founders think they have product market fit when they don’t?
5:45 - Building a successful company is not a single variable problem
7:30 - Socialcam didn’t hit product market fit
8:40 - Justin.tv had $1M in profit before reaching product market fit
12:30 - Some companies take a long time

Пікірлер: 65

@Phantom-nb5li Жыл бұрын

"Every year you don't die, your chances of being successful go up." - nice !

@aqua_pi 3 жыл бұрын

The real product market fit was the friends we made along the way

@jzk2020 6 ай бұрын

Did you even watch the video. Your family or friends or pets do not a product market fit make.

@homesickhelmet2945 4 ай бұрын

😂😂

@appleid3223 3 ай бұрын

Me to investors after running the startup to the ground😂😂

@fgboii4687 3 ай бұрын

@@jzk2020u funny 😅

@Death4K 2 ай бұрын

@@jzk2020he’s joking chill

@radarscreen391 Жыл бұрын

One of the most honest conversations by a successful entrepreneur. I paused the video and started calling our users, and the responses were eye opening.

@SuccessForeverAstrology 5 ай бұрын

What did you learn ?

@iraklispro 5 жыл бұрын

Hi Craig the new format is awesome! Congratulations. Keep it going! It would be great if you can have more talks about product market fit. I know there are some talks about this at start up school but the majority of us haven't achieved product market fit yet and it would be great to hear more related perspectives/stories. This talk was very valuable. Thank you!

@ycombinator 5 жыл бұрын

Thanks for watching! -Craig

@collegesynewave 5 жыл бұрын

First time hearing Michael Seibel speak refreshing honesty and logic,thanks :)

@shikki111 5 жыл бұрын

First time watching a Y combinator, after i saw a stanford lecture with amazing experienced people, i didn't know Michael Seibel was one of the most succesful people silicon valley.

@lithiumUNCHARGED Жыл бұрын

Wow pleasantly surprised by the guest and discussion. This is another step towards human progress

@TechGalaxy292 5 жыл бұрын

Content is gold. Thanks for the series guys!

@William_Clinton_Muguai 2 жыл бұрын

The guy is brutally honest a skill that many aspiring entrepreneurs lack. Every entrepreneur must be absolutely truthful to themselves coz the greatest person 2 fool is oneself.

@AlexanderLouizosLouizos 5 жыл бұрын

Love you Michael for being brutally honest. You are the best!!!!

@William_Clinton_Muguai 2 жыл бұрын

His honesty is what we all need.

@CarloL525 4 жыл бұрын

Thanks for the invaluable lessons

@yossimolcho841 5 жыл бұрын

Thanks. Great talk.

@yellowsnh 5 жыл бұрын

Brilliant. As always.

@jecabreradc 3 жыл бұрын

Thank you. Great information.

@troybuckholdt 5 жыл бұрын

I love these so much

@antoniomendes9366 5 жыл бұрын

thanks for these videos Craig! the right kind of content that keeps founders grounded and focused on building something long term. "founders think they've found PMF because it is intellectually convenient!" so much truth explained with just a few words. thanks again :)

@ycombinator 5 жыл бұрын

Thanks for checking them out! -Craig

@andu896 4 жыл бұрын

Seems like Twitch was missing the business model canvas planning to happen quicker and first. Glad it eventually did happen!

@prostomarketing Жыл бұрын

I am Watching anв nearly crying. Wish I knew it four years ago. Happy I encountered it now and can do my homework and rethink my failures

@fegelxx8191 Жыл бұрын

Great succinct video

@isitfunnytoyouu 3 ай бұрын

Hello my dear friend! thank you for the cool video! I'll wait for new videos

@bien196 2 ай бұрын

Can someone put the exact Time Stamp where they define PMF? They are talking alot about what it's not and they say what it's like when you have pmf but there is never a clear definition...

@mangarific1 4 жыл бұрын

New drinking game: Take a shot every time Michael says like

@sachinarora1156 3 жыл бұрын

DO Y combinator provides living expenses for foreign founders? I am not sure a lot of them can endure travel expenses and living expenses in early stages of start up?

@armada70 2 жыл бұрын

They don't provide for living expenses.

@h2energynow 5 жыл бұрын

Incredible amount of very valuable information, Thanks Sonya Davidson, CEO H2 Energy Now

@jasoncheung8407 4 жыл бұрын

How satisfied users are with your product is what determines whether you ever get to PMF. Happy users => word of mouth => more users => happy users => word of mouth, and so on. That's how you reach PMF.

@brahmabull4004 Жыл бұрын

Not if you can't monetize said product efficiently

@zelda5561 8 ай бұрын

Than it was a bad product to begin with. You should know if your product is monetizable from the start. @@brahmabull4004

@RifatMahmudrous 2 жыл бұрын

So, growth-repeatable, retention, profitablity

@Alvin_Vivian 5 жыл бұрын

So how do you define product-market fit specifically? If you have a $1m in profit, and you're not even at product-market fit...

@nicocastro6164 5 жыл бұрын

I think they said it best when they mentioned that you have to create a repeatable/scalable process in which to grow users profitably. So you could have $1m in profit on year 1, but your retention metrics could be horrible, so that number goes significantly lower in year 2. Or maybe your distribution channel is inefficient so you can't scale up profitably. These are just some factors to consider before you can say you have achieved product market fit.

@ghenrykhouse 4 жыл бұрын

It is demotivating to hear that the 1mln profit/year and 30mln monthly active users was not a product market fit

@olemew 3 жыл бұрын

Those facts should be motivating enough.

@MosbarRemix Ай бұрын

A bloated boat floats longer until it sinks

@nightlifeking 5 жыл бұрын

So... What is product market fit???

@xingermit 5 жыл бұрын

like they said, your product is selling like hotcakes, and you couldn't keep up with the growth.

@Death4K 2 ай бұрын

We talk about profitability but most of these companies are blitz scaling as well as ballooning even at its current stages (DoorDash Airbnb etc)

@aemericenglish2417 4 жыл бұрын

1. Build first

@MansaKimani 2 жыл бұрын

👌🏾

@arvindeashwar650 5 жыл бұрын

Does product market fit imply that you have distribution solved ?

@IAn0nI 3 жыл бұрын

Sustainable growth

@marilyncrawford2362 Жыл бұрын

How do you do a product market fit when it is an mini ecommerce site? When you have serveral products. Founder/ Estavent anti violence anti terrorism project.

@radarscreen391 Жыл бұрын

if someone was to sell product market fit to entrepreneurs he would be very rich

@how0will0this0end 5 жыл бұрын

I just hit product market fit last night when a customer gave me the idea for a key ingredient missing from my offering. Nothin like this has ever been offered before and its a huge market. so seeya biatches

@c.s1393 3 жыл бұрын

How's it going

@carlosbraga9381 3 жыл бұрын

Still waiting

@HashsirHaroon1 20 күн бұрын

Helloo

@davidfleischer4407 2 жыл бұрын

I think it shouldn’t be so hard to come up with a non-experiential definition of product-market fit!

@dy2cakc1 3 жыл бұрын

Self-imputed product market fit is a fool's errand.

@xSayllusx 5 жыл бұрын

Michael is so knowledgeable and more articulate than Sam

@Tassadar606 2 жыл бұрын

you cant pretend your way out of profit market fit, but you can pretend your way into a good acquisition, or a good exit, and or a good company that does not become a start up/eat the world kind of company, which is probably why there is so much pretending.

@JohnnyConcent 4 жыл бұрын

YUGE problem, hm

@boston1977boston 3 жыл бұрын

The interviewer is a goober

@trucututrucutu6071 3 жыл бұрын

You cannot control product market/fit because is in the hands of customers not you.

@benholmquist3589 Жыл бұрын

1. "How could you think that building a company is a single variable problem?" A lot of yc content focuses on the importance of a single KPI. As long as his KPI goes up you'll be successful. So, I do think this little paradoxical 2. Also, saying product market fit is a clearly defined thing is not really accurate imo. Even Mark's definition is pretty hazy. That said, it's clear that most founders think they are there when they are very different than what marks and your definition is, so overall I do think people are way off base but it's certainly not black and white