This video introduced the idea of customer development and lean startups. An idea and a product aren’t enough, if you want to end up with a successful product: you also have to build a customer base, so that you can sell the product or service.
The video breaks down the differences between startups and larger corporations. The major differences between the two is the unknown commodities that startups are forced to deal with, while larger companies have a much more established product and consumer base.
Startups using the scientific method to develop a product often pivot from a failed hypothesis to a new product.