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>> 1. Make a product that a billion people will fall in love with and use for the rest of their lives.

>> 2. Make it easy for a single-digit percentage of them to pay you a few bucks a month once in a while.

>> 3. Make sure your variable costs are low enough that you can make a mountain of profit if you get #1 and #2 right.

This is great advice.

The vast majority of products (and web products) do not meet number 1. Appealing to a billion is not a prerequisite to being valuable or/and successful.

I think 1. was exaggerated. The model still works if you only appeal to a few thousand people who use your product for a while, if you can get some of them to pay you money.

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