According to Ries, what is the *fundamental* reason most startups fail, and how does this perspective challenge or redefine common assumptions about startup success and failure?

Synthesized answer

According to Eric Ries, the fundamental reason most startups fail is that they are building something nobody wants [1]. This perspective challenges the common assumption that failures stem from poor execution, missed deadlines, or budget overruns [1]. Instead, Ries emphasizes that startups are inherently designed to navigate extreme uncertainty and their primary mission is to discover what customers will actually purchase [1].

This viewpoint redefines startup success by prioritizing "validated learning" about the customer [1]. The Lean Startup methodology advocates for continuous feedback and incremental adjustments, rather than relying on elaborate business plans and a product-centric approach [1]. The goal is to test the startup's vision with customers constantly and adapt accordingly [1].

Synthesized from the book passages below. Chat with the book on Feynman for follow-up.