For a long time economists thought demand existed before supply was created. It turns out, for most products, the inverse is true, where supply creates demand.

People often aren’t conscious of their needs or how to address them. This explains why we buy a lot of things we don’t need. Because of this, if one wants to create value in the world, it’s up to product managers to understand needs. In other words, they shouldn’t be asking customers what they want or asking them to predict how they might behave in the future.