Several schools of thought have their own definition or view of the “chicken and egg problem”. Some school of thought believes that the easiest way to jump-start a marketplace is to grow the supply side first, while some below the reverse are the case.
Well for me, I believe it’s relative to the market you are trying to cater for as well as the type of product or service involved.
Below is my view on what I think the chicken and egg problem is basically I stand to be corrected.
In a monetary marketplace there has to be enough supply for buyers and enough demand for sellers to participate. Without both sides of the market, there is no marketplace. This is often described as the chicken and egg problem — how do you get one side without the other?
A clear understanding of these market forces can provide a safe landing for startups looking to achieve product market fit.