Ventures In Tech | Discussing The Ever-changing Worlds Of Vc, Startups, & Tech

Episode Transcript: ADAM MCGOWAN:: Welcome to episode seven of Ventures in Tech, brought to you by Firefield. This is Adam McGowan and on today’s show we’re going to discuss the concept of the minimum viable product or MVP and the risks of mistaking assumption testing for product development. I’m again being joined by my colleague from Firefield, Henry Reohr, who will be guiding today’s chat. And with that, I’ll let Henry take it away. HENRY REOHR: [00:34]: Adam, in the startup environment, the term minimum viable product gets thrown around a lot. It also seems to have a number of definitions. Can multiple meanings of MVP all be correct? ADAM MCGOWAN: [00:47]: Well, if you like to be a bit of a purist, which I think of myself as when it comes to this, I would argue that you go back to the source. And in his book, The Lean Startup, Eric Ries created what’s probably known as popularized version or at least what was initially the most popularized version of the definition of this MVP. And he said that a minimum