Understanding markets is an order of magnitude harder than understanding products (at least to me), and is probably more important. I think this point gets los

Understanding markets is an order of magnitude harder than understanding products (at least to me), and is probably more important. I think this point gets lost all too often. It is a subtle but critical difference: a product guy can only do so much if you've picked the wrong sub-market. Then there is the whole thing about what even constitutes a market. People refer to healthcare as a market. But healthcare has a few death trap sub-markets where you are just spinning your wheels and not likely to succeed. And then there are submarkets where you can building a half-assed product and still get traction. Honestly, this has been the biggest learning lesson for me: that markets operate at a very micro level for startups. Too bad it isn't emphasized enough by folks preaching the whole pick-the-right-market idea.