It turns out that the type of market changes everything.

Maybe I know a whole new market.

This is an ad that shows some of the shall I say, youthful exuberance of Apple.

And a 15 return would be great.

Is this new model available on the market?

One in seven Africans is a Nigerian, and so everyone wants in to the mobile phone market in Nigeria.

Is this new model available on the market?

Build run a special administrative zone.

Recently it has become very much in fashion to call women the emerging market of the emerging market.

Those new model cars are on the market.

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

Now, it turns out that what the hockey stick really represents are startups in a new market.

It turns out they've got to fish where the fish are.

By the way, this little bump in year one this represents the fallacy in new markets.

By the way, what market type are you in?

And remember, just as you're focused on innovation, most incumbents are focused on innovation.

They can engage officials at different levels, and they can give kickbacks, or they can give bribes to them to ensure that they can continue to engage in these market activities.

And competitors, there's many if you're wrong but very few if you're right, and your risk is that you get the market and product redefinition just wrong.

Several more companies are moving to enter the lucrative pet food market of the country.

Looking at the Business Model Canvas, fill in the box where your product would go and then fill in the box where your market would go.

Agent Sherman, we are going into the troll market.

So this is a local person potentially deciding whether to enter the babysitting market.

Trade companies aim at a new market in Asia.

It turns out they've got to fish where the fish are.

And if there's enough demand to satiate that new capacity, maybe they will get a better return.

So this is analogous of having a global environment a big marketplace where you could buy new keys.

You're going to another place. A nice new city built especially for prawns.

This is a better return on investment than the stock market or anything else that I know of.

It seems the groom is running way too late...

The groom is entering.

And in fact they created an entirely new market that solved problems that customers didn't even imagine until they actually saw this new device.

And they might be aware that they would have to fund vetting and training if they wanted to go into that market.

But the key idea is we want to hoard as much cash as we can, because almost no startup in a new market can affect the diffusion of innovation by itself.

We believe that the winds of change are here, and that we can do it.

What's happening in years 1, 2, 3, etc, in the early days is you're actually getting revenue from the existing markets.

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

Xigi is a new community site that's built by the community,

If they're charging 5,000, the best way to enter a market is to charge 4000.

Japan's rice market is closed to imports.

She went to the market to buy fresh vegetables.

But that's not true for Beethoven.

Let me tell you where it is again, if you didn't watch the last video, is khanacademy.org downloads cupcakes.xls.

We talked about the jobs to be done. We talked about pains. We talked about gains.

The market was flooded with imports.

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