From What do failed startups have in common? by PandoDaily’s Erin Griffith:
Hogan believes founders often misinterpret Minimal Viable Product, a philosophy which decrees that software — no matter how bare bones — is shipped early and updated often. The startup philosophy is so revered by entrepreneurs that entire companies are being built around it. But it can be dangerous to young startups that have one chance to make a positive impression on users.
The risks of an insufficiently viable product are more serious in environments where early users rate your product. For example, mobile apps.