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There are two frameworks to asses markets which framework to use to…

- - - - payments
        
        stripe
        
        paypal
        
        Adgen
      - ride sharing
        
        uber
        
        Lyft
      - payroll
        
        Gusto
        
        ADP
        
        Paychex
  - - - :thought_balloon: maybe Stripe is a good example where Paypal was the incumbent
- - - - how much market share the startup can actually win
        
        it can be a massive market
        
        hence you cannot win the market
        
        but crowded.with companies with 5 year contract
- - - - now 8 years later they released Cash app which has nothing to do with hardware
  - - - then found anomaly market in small merchants and peer to peer transactions
- - - - small
      - boring
      - high end
      - unfamiliar
      - weird
      - on the bleeding edge
    - - very specific
      - can be costly
      - are underserved
  - - - IP
      - regulatory advantage
      - economies of scale
      - network effects
- - - - Infrastructure Change
      - Tech changes
      - Business Change
      - Customer Change
  - - - something you believe very few people agree with
      - about people – secrets that people don't know about themeselves
      - about nature – study some undiscovered aspect of the physical world
    - - looking at field that hasn't been standardised/institutionalised
  - - - when you conquer them your valuation will increase
      - your conviction level of whether you should do this for 3-13 year would increase
      - your ability to convey/persuade others should increase
  - - - slack is a good example
        
        despite being an enterprise tool they saw engagement like a consumer app
      - Arjun Sethi term this category defining as N of 1
        
        3 steps to get a unique product-market fit
        
        solve a core value proposition
        
        it becomes hard for your user to live without the product
        
        product itself becomes a utility – it becomes a feature of the products
    - - a small one that grows at high velocity or an old one that can be revolutionised
- - - - withstand time
      - provide defensibility
      - security for future profits
    - - economies of scale
      - network effects
      - proprietary techology
        
        impossible to replicate
        
        but it needs to be 10x better
        
        best way to create 10x better thing is to create something new that offers value
    - - it is weak durable asset