This goes for hiring new employees too. Even if your beta version sucks and you aren't ready to show it off, yet its a product that works and fixes problems, job candidates will find a way to apply.

I can refute your comment with one word: Apple.

Do you think their "leveraged media events" aren't effective? I used the believe (as you do) in the "Product Uber Alles" philosophy- no longer. Product is indeed the most important thing with the highest leverage. But it's not the only thing, and ignoring skillsets and tactics that can give you an advantage is silly.

Think of non-product bits as multipliers. If I have great PR, bizdev, marketing, pricing, etc., I can often beat a better product in the market.

There are zillions of markets where crappy/mediocre products are at or near the top of the heap.

The two aren't mutually exclusive. A company could be made by a leveraged media event and by having a great product.

- Investors can hear about you

- Showing relevant press from a reputable source is a great way to overcome objections to your product

- It attracts excellent talent that is more risk averse than, say, someone who is willing to join early stage/pre money or when the startup is in stealth mode

- You get to set the tone of your brand in the public eye

- You can get a critical amount of press momentum with a lot of planning and a little bit of luck. The idea being that if you can get a few big -- or relevant -- publications to write about you at the same time, it will get the attention of secondary publications and down onto humble bloggers.

PR might not always be a good strategy for product awareness. But planning and guiding how the public sees you is a great strategy for any company.