THE ARC PRODUCT-MARKET FIT FRAMEWORK

Summary from the TLDR Founders newsletter

Sequoia presents a framework for understanding product-market fit (PMF) based on three distinct archetypes: "Hair on Fire" (solving an urgent, obvious need in a crowded market), "Hard Fact" (solving a problem customers have accepted as a fact of life), and "Future Vision" (enabling a new reality through visionary innovation). The path a company takes depends on how customers relate to the problem being solved, and each path requires different operating priorities to succeed, with legendary companies often evolving through multiple paths as they introduce new products over time.