Nivi

"Thanks again Steve. You say, "Market Type affects your spending and sales ramp after you reach product/market fit." Based on your discussion in the comments, I think we should add "Market Type also affects your positioning before you reach product/market fit."" - Nivi

"Thanks kindly for your reply.1. "While one could argue that biotech startups also face market risk, their first decade is dominated by whether the science will work." Great quote. Customer development is about squeezing out risks in the right order. This overlay adds another upfront risk (technical risk) that needs to be squeezed out first, if necessary.2. I totally grok what you're saying. But I haven't seen startups do anything useful with the theory of market type in the discovery and validation stages, except in re-positioning the product to try to get better product/market fit in discovery. Thinking about market type seems to bog startups down and they don't get anywhere with it (most startups don't get one-on-one time with Steve Blank). That's based on my own personal experience and I would love to experience counter-examples. So my solution has been to punt on the topic and say what I wrote above.3. Isn't the point of the third question that the definition of validation should..." - Nivi

"Great stuff. I would love to get your feedback on these thoughts:1. “Does your startup have market risk or is it dominated by technical risk?” Let's not let startups use this as an escape hatch to avoid customer development. Almost all Web startups are dominated by market risk. Even startups that are dominated by technical risk have the customer validation risk of finding positive ROI distribution in a large market.2. "“What’s the “Market Type” of your startup?" I love the theory of market type but I think it is an advanced topic. For startups in customer discovery and validation, I would boil it down to: "1. Don't launch. Don't spend time and money on getting the word out about your product beyond what you need to do discovery and validation. 2. Your best bet is probably taking an existing market and serving a portion of it better than the competition, through lower cost or a different set of features. End of theory."3. "What is the “Business Model” of your startup?" I've never..." - Nivi