[icedchai]

Time, perhaps? You can find a handful of customers to "validate" a product relatively easily (at least enough to justify it in an early Powerpoint deck.) This doesn't mean there's enough customer demand for a real business.

[NeilRamp]

So you think it might be a resource thing? If they had more time/money/runway they would possibly do a better job?

Agreed that it's easy to think you've validated by getting a handful of people to nod enthusiastically at a Powerpoint!

[icedchai]

Yes, resource constraints, and overly optimistic, often delusional, thinking. (The idea is so great, it doesn't need validation... etc.)