1) The document discusses problems with large product backlogs, including that they don't scale, become bottomless pits, and items get marooned without being delivered. 2) It proposes replacing the backlog with a goal-driven approach focused on objectives, missions, and outcomes instead of work items. With this approach, work is generated just-in-time based on advancing goals within iterations/timeboxes. 3) The objective-driven or "ODA" approach emphasizes resetting goals frequently, working within timeboxes to advance goals, and measuring progress towards goals instead of backlog completion.