Fenton: The most successful startups launch in narrow or invisible markets
Peter Fenton · 20VC: Benchmark's Peter Fenton on How To Differentiate Between Good & Great VCs, Why Ownership Is A Bigger Determinant Of Returns Than Valuation & What Makes A Truly Exceptional Board Member · Jun 19, 2017 · at 19:29
Peter Fenton is a general partner at Benchmark. He discusses why total addressable market (TAM) analysis fails for groundbreaking early-stage investments like Snapchat.
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“In many ways, by definition, the startup companies that do the best invest and get going in very narrow, almost ill-defined, if not completely invisible markets”
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