When I step back and think about what motivates me early in a relationship with an entrepreneur, it’s the product. I only invest in domains that I know well, so I don’t need fancy market studies (which are always wrong), financial models (which are always wrong), or customer needs analyses (which are always wrong). I want to play with the product, touch the product, understand the product – and understand where the founder thinks the product is going.
Brad Feld, My Obsession With The Product