Bryan Schreier on product‑market fit
From Myths about product/market fit, and how to find it | David Hsu & Bryan Schreier · · WebSummit
“Of those pre‑seed stage companies none of them have product‑market fit yet. For a typical seed company I think a quarter of them would be lucky to find product‑market fit — half of them probably think they've found it, often because they can paper over cracks with sales and marketing spend.”
On , Bryan Schreier, Partner at Sequoia at Sequoia Capital, spoke about product‑market fit during Myths about product/market fit, and how to find it | David Hsu & Bryan Schreier on WebSummit.
About Bryan Schreier
Bryan Schreier, a partner at Sequoia Capital, has spoken extensively about product-market fit, company building, and investment strategy in a series of public appearances. In a 2022 discussion, Schreier described product-market fit as a "holistic effort" that is "more of an art" than a science, and noted that many companies never achieve it. He emphasized the importance of a customer and sales-oriented approach, and said that early-stage founders should be prepared to "wear every hat" in the pursuit of product-market fit. Schreier also commented on the difficulty of securing Sequoia investment, stating that the firm meets about 2,000 companies per year and partners with only 10 or 12. Schreier has also discussed his firm's investment philosophy and the qualities he looks for in founders. He has stated that Sequoia's strategy is to be a partner from the idea stage through an IPO, and that the firm does not "optimize for exits." He has highlighted the importance of building a "world-class team" with people of "tremendous character," and has noted that more than 60% of Sequoia's portfolio companies were started by immigrants. Schreier has also advised entrepreneurs to be cautious about raising capital, stating that he encourages people "not to raise money" unless they have an "enormous opportunity" that justifies the dilution.