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AI Summary
- Jim Goetz observes that famous startups (Yahoo, Google, YouTube, Apple) began by solving specific pain points for specific customers rather than chasing large TAMs
- While these companies later grew into billion-dollar markets, their initial success came from deep passion and focus on narrow, specific problems—not from targeting massive addressable markets
- Sequoia finds entrepreneur passion for solving a very specific pain point more interesting than impressive market size projections; focus and specificity are key indicators of viable ideas