SAM and TAM are the same number

PrincipleIf your SAM equals your TAM, one of them is wrong.

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Market

$50B

TAM

$50B

SAM

$50B

SOM

1Dealbreaker

Dealbreaker

You haven't segmented

If TAM = SAM = SOM you're saying you can sell to every customer on earth day one. Nobody believes that.

Fix

Constrain SAM by geography + segment; constrain SOM by realistic penetration.

More market teardowns

Investors distrust top-down TAMs. Show the wedge.