The Landing Page Test

A founder DMs you, thrilled: "Our landing page test worked! We put up a page for the product, ran some ads, and got 40 email signups. Validation! We're starting the build Monday."

You ask three questions. How many people saw the page? "About 4,000." What did signing up cost the visitor? "Just an email — we made it super low friction." What number would have made you NOT build? Silence.

Monday's build is happening either way. But what did the test actually prove?