This document discusses what is needed to create successful products. It argues that while ideas, engineering and design are important, they are not enough on their own. Successful products solve real problems for people. The document examines examples of products like Path and Google Wave that failed, despite having great ideas, founders, engineering and design. It suggests the key lessons are to talk to people to understand their needs and problems, fail early by testing ideas quickly, and to not give up when facing failure.