Juicero, the $700 juice bag squeezing machine, failed because it received $120 million in funding before ever talking to customers, leading to a flawed product concept.

The primary reason startups fail is that they don't create something people want, either by making the wrong product or failing to make anything at all.

Most startups fail to create something that users truly love; they often settle for products that users merely like.

The biggest cause of startup failure is not creating something that people want, which often leads to founders losing momentum and focus on their original vision.

If you're going to charge for a product, it needs to be self-serve and frictionless for users. Many startups fail because they rely too heavily on founder involvement for customer acquisition.

Young founders often go through the motions of starting a startup without focusing on the essential task of making something people want.

We initially started a company based on a bad idea, trying to create a wiki for stock research, but it never took off, which is common in consumer businesses where success can feel random.

Copying successful companies without understanding their context often leads to failure, as seen with startups that blindly imitated WeWork and Zoom Pizza.

Founders often overspend because they haven't realized that their product isn't what customers want yet, leading them to chase after growth without understanding their market.