The key advantage of idea-last startups is this: As you progress through the steps, your odds of creating a profitable solution actually increases.
Oops, I read "end with an Ikea" the first time...
Good read. The high level view is flawed:
Have a great idea
Create a product based on the idea
Find someone who will pay for using your product (or do this before #2)
Repeat 2 & 3 with as many modifications as required (pivots)
It is the bits in between the idea and creating the product are the hardest. Why build a product if you don't know if it will float?
It would be good to hear from others on how they evaluating their idea.
Interesting, but I think the line "There are no iterations" is hyperbole. I think there are many things that could send you back to earlier stages.