I froze for a second because the question is so wide open it almost feels like a trick.
Start by framing the problem: clarify that with $20M and no constraints, you need to identify a high-impact opportunity where technology can create differentiated value. Then walk through a structured process: define evaluation criteria, brainstorm and prioritize ideas, validate with users, and outline an execution plan. Emphasize that you would focus on a large market with a clear user pain point and a viable path to product-market fit.
Pro tip: Show that you understand the difference between a feature and a product: a $20M investment demands a scalable business, not just a cool idea. Anchor your answer in a specific user problem and explain why now is the right time (technology shift, regulatory change, etc.).
Establish what a successful investment looks like: market size, growth potential, competitive advantage, and alignment with your skills. This ensures you don't chase shiny objects.
Brainstorm areas where technology can solve significant user problems, focusing on trends like AI, AR/VR, or sustainability. Narrow down to 2-3 spaces with high potential.
Conduct rapid user research to confirm the problem is real and urgent. Talk to potential customers, build a landing page, or run a small pilot to test demand.
Build a minimum viable product (MVP) to test core assumptions. Use agile methods to iterate quickly based on user feedback and data.
Once product-market fit is validated, invest in growth. Define key metrics (e.g., CAC, LTV, retention) and a roadmap to scale the team and technology.
AI-generated suggestions, not part of the candidate's original notes. May be inaccurate — verify before relying on them.