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Fun fact: Orson Scott Card (author) had the idea for Speaker for The Dead before writing Ender's Game, and essentially wrote the first novel simply to set up the complex universe that unfolds in the sequel.
What!? I pretty clearly remember being able to apply the scientific method properly in grammar school. The conclusions we reached may not have been earth shattering, but they were valid, because we followed the steps.
However, in cases like healthcare or finance, or certain B2B applications, viable may entail a much more mature product.
2) The cycle of expectations that your product needs to be as feature rich as your competition on day one leads to what Eric Ries calls the large batch death spiral where it always seems like a good idea to add that one last feature (I've been there, it's painful, and really difficult to pull out of).
3) RE: fear of ruining your reputation if your MVP isn't shiny enough-- good news: no one knows who you are when you launch, so you have nothing to lose. Don't launch your MVP in the press, court early adopters, listen to your customers, and focus on building value until your product kicks the competition's ass. If you hide from customers out of fear you take the biggest risk of all: building something no one wants. Even if you have the best product idea in the world, the only way to know if the features you add are having a positive impact is to measure the behavior of real, live, human users.
Unfortunately I think what we're seeing is the lean startup backlash where people use the terms but don't really take the time to understand what they mean. The Lean startup movement is a powerful set of lessons that can empower entrepreneurs and save us from wasting our time and effort building the wrong things and chasing the wrong metrics, but maybe some of the lessons just have to be learned painfully through experience.
In a more practical sense, simply being able to recognize these signals would be very valuable in meetings, especially sales meetings involving pitching a group when it is unclear who the actual decision makers are.
Claims like this one:
> "First, all of the easy causes have been found, which means that scientists are now forced to search for ever-subtler correlations, mining that mountain of facts for the tiniest of associations."
May be true, but the author presents no evidence to support them, with relevant studies, articles, etc..
The second, much more troubling problem however, is that the argument suffers fromt the very problem it presents! The author's conclusion that the returns on scientific research are diminishing due to an inherent flaw in conclusions being drawn from correlations-- is itself a correlation. He's correlating the increasing cost of research to the increasing difficulty of finding new correlations in the data.
There are other, simpler, less circular and philosophical explanations for why the returns on pharmaceutical research have decreased, such as increasingly strict regulations and fear of risk on the part of regulatory organizations. See this TED talk, where Juan Enriquez talks about these issues: http://www.tedmed.com/videos-info?name=Juan_Enriquez_at_TEDM...
SkillSlate: looks like a change in vision to me (totally different product) Fondu: not a pivot, its a totally new company Hipmunk: not a pivot, it's a new (complementary) product Turntable.fm: Brand new startup Fab: Brand new startup
All of these look like startups we should be commending for making building good products and making strategic decisions this year, let's just stop calling everything startups do "Pivoting" just because its a buzzword.
I think the best point Eric Reis adds to the original test is the last point in the article: "Do your programmers understand the product they are building and how it relates to your company's strategy?" Such a crucial point in startups, especially when they start to grow quickly.
Eric Ries has some really insightful ideas about how to turn these problems around, and if you haven't already read The Lean startup I highly recommend it.
http://www.amazon.com/Lean-Startup-Entrepreneurs-Continuous-...