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Product-Market Fit Importance
- Product-market fit is a crucial dividing line in a startup's lifecycle.
- It's a key factor for seed investors and a primary focus for CEOs.
Seed Investor's Job
- A seed investor's job is to identify companies likely to achieve product-market fit.
- This involves spotting potential even before the company shows clear signs of it.
Airbnb's Early Success
- Airbnb experienced rapid growth after Sequoia's investment, demonstrating early product-market fit.
- Within nine months, they went from $600,000 to $1.5 million in the bank, prompting a Series A.