When it comes to building a startup, one of the first things a founder thinks about is creating a Minimum Viable Product (MVP) to test whether their solution to a particular problem is valid. A common mistake I see founders make is forgetting about the “Viable” part and focusing only on the product.

“90 % of startup founders miss the point; the other 10 % who understand MVP build companies like Airbnb, Twitch, and Stripe.”

Below is a deep dive into:

• The real meaning of an MVP

• How Airbnb, Twitch, and Stripe built theirs

• The Y‑Combinator MVP‑building strategy

• How you can build an MVP for your own startup

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What is an MVP (Minimum Viable Product)?

“A minimum viable product (MVP) is a version of a product with just enough features to be usable by early customers …” – Wikipedia

MVP Mindset in the Pre‑Launch Stage

![Midwit meme – launch quickly vs. over‑planning]

The meme illustrates three founder archetypes:

1. The “dumb” founders – launch quickly, iterate, and learn.

2. The “smart” founder (Benny) – wants surveys, fundraising, a perfect product before launch.

3. The “expert” founders – also launch quickly and iterate.

Key takeaway: You only start learning about your users when you put a product in front of them. Surveys alone won’t tell you what works.

Goals for Early‑Stage Founders

1. Launch quickly (MVP)

2. Get your first customers

3. Talk to customers & get feedback

4. Iterate (improve the product)

Expect 3–5 iterations; the MVP will evolve dramatically. Remember, you’re not the hero of the customer’s story—you’re the guide providing the tools they need.

Is an MVP Really the Way to Go?

Many founders aim for a “big” product (think iPhone) right out of the gate. That’s a steep hill. The MVP approach lets you test assumptions cheaply and learn fast.

What If My MVP Is Rubbish?

Fear is normal, but don’t let it stop you. One unhappy early user doesn’t kill a startup. Early adopters are accustomed to imperfect products; they’re willing to give feedback that makes the product better.

“Fake Steve Jobs” Mentality

Some founders believe they know exactly what customers need, mirroring the myth that Steve Jobs launched perfect products on the first try. In reality, even the first iPhone had 2G, no App Store, and many limitations. Only customers know what they need; you discover it by showing them your MVP.

Examples of Successful MVPs

1. Airbnb

• First version was a simple site for renting airbeds during conferences.

• No payment system, no map view, limited to airbeds only.

2. Twitch (originally Justin.tv)

• One‑page site with a single streamer (Justin).

• Low‑resolution video, minimal features.

Both started with very fast‑to‑build, limited‑functionality software aimed at a tiny, desperate user segment.

Who Are Early Adopters?

“You want to build your product for customers who have their hair on fire.”

Early adopters are desperate for a solution; they’ll try a rough prototype (your “brick”) because they have no better option.

Why Surveys Don’t Work

Surveys reveal pain points but not solutions. Users often can’t articulate how to solve their problems. Only a product can test whether a solution works.

The Scientific Method Flow

1. Ask a question

2. Build a hypothesis (your MVP)

3. Test with real users

4. Observe results

5. Iterate

How to Build an MVP Quickly

1. Set a deadline – a firm completion date forces focus.

2. Write down MVP features – list everything you think is needed.

3. Cut unnecessary features – keep only what directly solves the core problem.

Example: Overseas‑payments startup

Skip: chat feature, integrations with every bank. Focus on the core payment flow first.

Don’t Fall in Love with Your MVP

If you become attached, you’ll resist necessary changes. Treat the MVP as a hypothesis, not a finished product.

Final Thoughts

“It’s better to have 100 customers that really love your product than 100 k that are just okay with it.” — Michael Seibel, Y‑Combinator

Those 100 passionate users provide rich feedback that drives growth. Build for them first; the rest will follow when your product shines.

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All the concepts above are covered in Michael Seibel’s video: https://www.youtube.com/watch?v=QRZ_l7cVzzU&t=606s