A framework for finding product-market fit | Todd Jackson (First Round Capital)

2024-04-11 · 87 min · 61 entities

episode page audio

Asserted relationships

→ references Looker Company company

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://en.wikipedia.org/wiki/Looker_(company
→ hosted by Lenny Rachitsky person

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evidence rules-v4
Feed author/publisher: Lenny Rachitsky
→ discusses Technology company

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evidence rules-v4
Feed category: Technology
→ discusses Business concept

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evidence rules-v4
Feed category: Business
→ discusses Entrepreneurship concept

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evidence rules-v4
Feed category: Entrepreneurship
→ references penname.co website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://penname.co/
→ references cash.app website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://cash.app/
→ references stripe.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/
→ references ramp.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://ramp.com/
→ references databricks.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://databricks.com/
→ references vanta.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://vanta.com/
→ references dropbox.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://dropbox.com/
→ references retool.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://retool.com/
→ references Atlas website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/atlas
→ references firstround.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://firstround.com/
→ references wework.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://wework.com/
→ references lattice.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://lattice.com/
→ references simon-kucher.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://simon-kucher.com/
→ references Twitter Acquires Cover An Android Mobile Startup website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://vox.com/2014/4/7/11625332/twitter-acquires-cover-an-android-mobile-startup
→ references pmf.firstround.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": http://pmf.firstround.com/
→ references plaid.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://plaid.com/
→ references Product Market Fit person

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://review.firstround.com/series/product-market-fit
→ references casper.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://casper.com/
→ references withpersona.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://withpersona.com/
→ references ironcladapp.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://ironcladapp.com/
→ references verkada.com website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://verkada.com/
→ references Radar website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/radar
→ references Ipad Pos Stand Integrated Card Reader website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/shop/hardware/us/en/products/ipad-pos-stand-integrated-card-reader
→ references Campaign website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/us/en/campaign/banking/checking
→ references Get Started With Square Capital company

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/help/us/en/article/5654-get-started-with-square-capital

Entities found in this episode

websites 46

mentioned penname.co website

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://penname.co/
mentioned cash.app website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://cash.app/
mentioned stripe.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/
mentioned ramp.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://ramp.com/
mentioned databricks.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://databricks.com/
mentioned vanta.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://vanta.com/
mentioned dropbox.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://dropbox.com/
mentioned retool.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://retool.com/
mentioned Atlas website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/atlas
mentioned firstround.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://firstround.com/
mentioned wework.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://wework.com/
mentioned lattice.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://lattice.com/
mentioned simon-kucher.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://simon-kucher.com/
mentioned Twitter Acquires Cover An Android Mobile Startup website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://vox.com/2014/4/7/11625332/twitter-acquires-cover-an-android-mobile-startup
mentioned pmf.firstround.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": http://pmf.firstround.com/
mentioned plaid.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://plaid.com/
mentioned casper.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://casper.com/
mentioned withpersona.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://withpersona.com/
mentioned ironcladapp.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://ironcladapp.com/
mentioned verkada.com website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://verkada.com/
mentioned Radar website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/radar
mentioned Ipad Pos Stand Integrated Card Reader website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/shop/hardware/us/en/products/ipad-pos-stand-integrated-card-reader
mentioned Campaign website

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/us/en/campaign/banking/checking
references penname.co website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://penname.co/
references cash.app website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://cash.app/
references stripe.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/
references ramp.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://ramp.com/
references databricks.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://databricks.com/
references vanta.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://vanta.com/
references dropbox.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://dropbox.com/
references retool.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://retool.com/
references Atlas website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/atlas
references firstround.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://firstround.com/
references wework.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://wework.com/
references lattice.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://lattice.com/
references simon-kucher.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://simon-kucher.com/
references Twitter Acquires Cover An Android Mobile Startup website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://vox.com/2014/4/7/11625332/twitter-acquires-cover-an-android-mobile-startup
references pmf.firstround.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": http://pmf.firstround.com/
references plaid.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://plaid.com/
references casper.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://casper.com/
references withpersona.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://withpersona.com/
references ironcladapp.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://ironcladapp.com/
references verkada.com website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://verkada.com/
references Radar website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://stripe.com/radar
references Ipad Pos Stand Integrated Card Reader website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/shop/hardware/us/en/products/ipad-pos-stand-integrated-card-reader
references Campaign website

0.38

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/us/en/campaign/banking/checking

companys 6

mentioned Looker Company company

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://en.wikipedia.org/wiki/Looker_(company
references Looker Company company

0.77

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://en.wikipedia.org/wiki/Looker_(company
mentioned Technology company

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evidence rules-v4
Feed category: Technology
mentioned Get Started With Square Capital company

0.45

evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/help/us/en/article/5654-get-started-with-square-capital
discusses Technology company

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evidence rules-v4
Feed category: Technology
references Get Started With Square Capital company

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://squareup.com/help/us/en/article/5654-get-started-with-square-capital

concepts 5

mentioned Business concept

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evidence rules-v4
Feed category: Business
mentioned Entrepreneurship concept

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evidence rules-v4
Feed category: Entrepreneurship
mentioned Todd Jackson (First Round Capital concept

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evidence rules-v4
A framework for finding product-market fit | Todd Jackson (First Round Capital)
discusses Business concept

0.40

evidence rules-v4
Feed category: Business
discusses Entrepreneurship concept

0.40

evidence rules-v4
Feed category: Entrepreneurship

persons 4

mentioned Lenny Rachitsky person

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evidence rules-v4
Feed author/publisher: Lenny Rachitsky
hosted by Lenny Rachitsky person

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evidence rules-v4
Feed author/publisher: Lenny Rachitsky
mentioned Product Market Fit person

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://review.firstround.com/series/product-market-fit
references Product Market Fit person

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evidence rules-v4
Link in episode "A framework for finding product-market fit | Todd Jackson (First Round Capital)": https://review.firstround.com/series/product-market-fit

Episode description as stored

Todd Jackson is a Partner at First Round Capital. Before moving into venture capital, he played a crucial role as VP of Product and Design at Dropbox, guiding the company until its IPO in 2018. Prior to Dropbox, Todd led product management for Twitter’s Content and Discovery teams after selling his startup, Cover, to Twitter in 2014. Before Cover, Todd oversaw product development for Facebook’s Newsfeed, Photos, and Groups. He kickstarted his career at Google as an associate product manager and eventually led product for Gmail, witnessing its growth from beta to 200 million users. In our conversation, we discuss: • Why product-market fit (PMF) matters • First Round Capital’s four-part PMF framework • Level one: Nascent product-market fit • Level two: Developing product-market fit • Level three: Strong product-market fit • Level four: Extreme product-market fit • Examples of companies at each level • How to know if you’re stuck at a level, and how to get unstuck • What to change if you’re stuck: persona, problem, promise, and product • The goals and challenges at each stage — Brought to you by: • WorkOS —The modern API for auth and user identity • Eppo —Run reliable, impactful experiments • CommandBar —AI-powered user assistance for modern products and impatient users — Find the full transcript at: https://www.lennysnewsletter.com/p/a-framework-for-finding-product-market — Where to find Todd Jackson: • X: https://twitter.com/tjack • LinkedIn: https://www.linkedin.com/in/toddj0/ — Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • X: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ — In this episode, we cover: (00:00) Todd’s background (06:07) First Round Capital’s PMF framework (09:07) Why product-market fit is so important (11:02) Who can benefit from this framework (12:55) The product-market fit method (16:54) Broad overview of the framework (21:35) Level one: nascent product-market fit (33:16) The four P’s (39:13) Level two: developing product-market fit (49:13) Signs you’re stuck at level two, and what to do (55:12) Level three: strong product-market fit (01:00:17) Signs you’re stuck at level three, and what to do (01:02:22) Level four: extreme product-market fit (01:06:55) Rough timelines for each level (01:11:18) A quick recap of the framework (01:12:15) Diving deeper on the four P’s: what to do if you’re stuck (01:13:56) Dollar-driven discovery (01:25:11) Apply for the product-market-fit method program — Referenced: • First Round: https://firstround.com/ • Twitter Acquires Cover: https://www.vox.com/2014/4/7/11625332/twitter-acquires-cover-an-android-mobile-startup • Dropbox: https://www.dropbox.com/ • Rahul Vohra on LinkedIn: https://www.linkedin.com/in/rahulvohra/ • How Superhuman Built an Engine to Find Product Market Fit: https://review.firstround.com/how-superhuman-built-an-engine-to-find-product-market-fit/ • How to validate your startup idea: https://www.lennysnewsletter.com/p/validating-your-startup-idea • How the most successful B2B startups came up with their original idea: https://www.lennysnewsletter.com/p/how-the-most-successful-b2b-startups • How to know if you’ve got product-market fit: https://www.lennysnewsletter.com/p/how-to-know-if-youve-got-productmarket • A guide for finding product-market fit in B2B: https://www.lennysnewsletter.com/p/finding-product-market-fit • Product-market fit method: http://pmf.firstround.com/ • Stripe: https://stripe.com/ • Plaid: https://plaid.com/ • Paths to PMF: https://review.firstround.com/series/product-market-fit/ • WeWork: https://www.wework.com/ • Casper: https://casper.com/ • Vanta: https://www.vanta.com/ • Christina Cacioppo on LinkedIn: https://www.linkedin.com/in/ccacioppo/ • Ramp: https://ramp.com/ • Velocity over everything: How Ramp became the fastest-growing SaaS startup of all time | Geoff Charles (VP of Product): https://www.lennyspodcast.com/velocity-over-everything-how-ramp-became-the-fastest-growing-