We have a 20 share of the market.

In value proposition, what was the product cost?

Our job in an existing market is simply year after year, if we execute pristinely, simply to take share away from the incumbents.

Another thing to think about is what's the market size estimate?

This is a great opportunity to increase our market share.

I was the chief architect of the Sakai project and instrumental, continued to work with the Sakai learning management system.

Between them, the two largest companies account for a share of more than 50 of the market.

And make sure that ours is the dominant player.

It's not a funny joke, but it really illustrates the level to which people placed an emphasis and relied on these markets to survive.

Shankar Vedantam is the author of The Hidden Brain

IBM has the lion's share of the large computer market nobody else even comes close.

Another is where you take a segment or re segment an existing market.

When they get a hankering for some treats, we actually allowed them a way out into a little smaller enclosure where they could enter the market.

But let's parcel it a little bit more, cause these terms can be interesting.

So 5 million divided by 1 million is 5.

One is existing market.

So what are the signs that things are fundamentally changing?

We talked about the jobs to be done. We talked about pains. We talked about gains.

They've created a consumer collective where they put solar panels on households and create a consumer based utility, where the electricity that they generate is basically pumped back out into the marketplace.

And in fact they created an entirely new market that solved problems that customers didn't even imagine until they actually saw this new device.

And then I could take this 30 worth of cotton fabric plus some more labor so let's say another 5 of labor and

The troll market! The troll market?

Micro credits gave her the bicycle, you know.

Do the monkeys do anything like this?

And so it's the pursuit of better things, easily shared.

And then, over time, we were able to bring down the cost significantly to about two percent of what it used to be when we started out.

It turns out that there really are four types of markets for startups.

One of the things I just want to reemphasize because we mentioned it earlier is the difference between single sided markets and multi sided markets.

I started to realize, begging would not be the solution.

Completely equivalent companies.

And that's often done with an initial public offering.

It turns out they've got to fish where the fish are.

So I'll pay 2 per share, which is a little bit of premium over the market value at the time, which was 1.

Eli Lilly in, again, the fiercely competitive pharmaceutical world has created a market for solutions for pharmaceutical problems.

We talked to 600 drug addicts in three cities in Indonesia, and we said, Well, do you know how you get HlV?

It's a fantastic example of how technology is creating a market for things that never had a marketplace before.

Interestingly, the market share of heroin and cocaine is going down, because the pills are getting ever better at reproducing their highs.

It doesn't somehow represent the entire company.

Now what does that result in their valuation, or in terms of their market cap?

They're worth 10, or so you say.

Trade companies aim at a new market in Asia.

You see, you want to work on protecting the animals out there.

There's two essential ways of doing that, if we carry on this brand theme.

So we could keep going.

But we'll talk a lot more about that when we deal with real examples.