Pied Piper's future looks grim, so Jared sets out to pivot the company even though no one else on the team agrees with his thinking. He ventures out and surveys random people in order to find a new direction for the company. This is a good example of how NOT to survey people about a product or service.
A parking lot app idea is conceived, and the initial questions about it revolve around how it is different from a notepad. Idea generation involves a series of questions to ensure the idea is feasible and that there is a market for it.
Peter tells Richard and Erlich what he values in a company when they incorrectly guess his reason for deciding to fund Pied Piper. Peter states that he invested in the team and tells them to get the company in order or he will not fund them.