Now what does that result in their valuation, or in terms of their market cap?

And we give those two boxes, those two relationships, a special name.

So we have to be careful.

And we said at 1.70, people are willing to eat two million cupcakes in a year.

Why? Because you've never asked the question what type of market am I in?

But if you had a revenue model but no users, there would be no reason for those advertisers to show up.

The troll market! The troll market?

Ben has actually done a good job of saying the market value of his inventory, the market value of his equipment.

Who knows what it has!

So, our sales curve in an existing market literally should be one of taking shares.

Put our heads together.

As we discussed, some businesses are multi sided.

Now this was an example of a 2 sited market.

You want to identify who your customers and markets are, and you have, but you now want to size the market,

So in summary, the questions you want to ask are how big can this be, how much of it can we get, what's the growth rate of the market, is the market itself declining or is it in flux or is it taking off? and most importantly here is talk to customers and the sales channel, and next important is you can get some pretty good market size estimates by competitive approximation if it's an existing or resegmented market, or even if we're going to clone a market outside the US.

Maybe if I do it on a small amount,

Slave market?

The USA is a good market for Japanese products.

lifecycle adoption curve popularized by Geoff Moore in a book called Crossing the Chasm.

I will go to the market.

In this market?

If you don't surrender immediately, we'll begin targeting your cities.

The stock market is often called a dangerous one.

Another is where you take a segment or re segment an existing market.

It turns out that the type of market changes everything.

The big idea is that there's thing external to the canvass that are important for a start up.

So what's leftover?

By the way, what market type are you in?

That gives us 120,000 market cap

Philanthropy is the market for love.

Black Market.

Maybe I know a whole new market.

That one? Is that one the best?

One of the things I just want to reemphasize because we mentioned it earlier is the difference between single sided markets and multi sided markets.

There's many a true word spoken in jest.

Currency and bond markets are relatively calm.

So when they took a look at this day one canvas, the teaching team first said

So, in a nutshell, what we had in traditional Africa was a free market system.

But we'll talk a lot more about that when we deal with real examples.

Anyway, 10 years ago, the market share for healthy food snacks was imperceptible among 6 to 12yearolds.

You might decide that's a strategy but that's kind of a counter in learning from an MVP.

And the one we'll be actually talking about in some detail during the series of lectures is that you never actually found product market fit and there's too few people who will buy or will use the product.

And all of that's great, and it's fine.

Let's say in one part of town, there's some type of a market.

And I'll do a bunch of videos on margins in the future.