Alfred Lin argues that market share is often misunderstood as a direct indicator of success. Founders frequently feel pressure to grow market share, viewing it as a simple metric for progress. However, history shows many companies that dominated their markets numerically still lost out strategically. Lin illustrates this with examples from Sequoia's portfolio, emphasizing that true outliers focus on creating exceptional products and experiences rather than merely chasing market share. He highlights Apple’s launch of the iPhone in 2007 when it had minimal market share compared to Nokia and BlackBerry. Steve Jobs prioritized customer satisfaction and developer engagement over share metrics. Similarly, Airbnb started with almost no market share, focusing on a new travel model that fostered emotional connections. DoorDash, entering a saturated food delivery market, concentrated on improving logistics rather than competing on price. WhatsApp, too, maintained simplicity and reliability while ignoring the allure of ads, leading to organic growth. Lin concludes that the real indicators of a successful business include customer loyalty, the quality of growth, defensibility against competition, repeatability, and the inevitability of the company’s vision. The companies that truly succeed build offerings that the market can't overlook, demonstrating that market share is just a snapshot and can be transient.