He groups the needs of social app users into six broad categories: hormonal needs, loneliness and companionship, emotional release, ego and boasting, ranting and venting, and self-improvement, in declining order of motivation level. The lower the motivation level, the smaller the potential market size.
Remember that fund raising is a sales process. The investor is a customer and they have money to spend but only for a limited number of companies. They are buying trust in you that you will build a large business that will be valuable. The first “Blink” evaluation they’ll make is about YOU and only when they’ve subconsciously decided whether they find your smart, likable, credible, a good leader, inspirational, competitive and all of the other subconscious attributes they’ll look for do they begin to truly think about whether your business idea has legs.