Figuring out your product before you've started on your strategy and business model is the classic technical entrepreneur's mistake. I've done it myself. The on

Figuring out your product before you've started on your strategy and business model is the classic technical entrepreneur's mistake. I've done it myself. The only possible reason I can see to do this is that from the VC's point of view, it might shift more risk onto the entrepreneur. More effective, not to mention lower risk (for the entrepreneur) is the lean/MVC model described in Running Lean and elsewhere. Fail early, not after you've spent years perfecting a product that doesn't have a profitable market.