According to standard teleosemantics, intentional states are selectional states. This claim is put forward not as a conceptual analysis, but as a ‘theoretical reduction’—an a posteriori hypothesis analogous to ‘water = H2O’. Critics have tried to show that this meta-theoretical conception of teleosemantics leads to unacceptable consequences. In this paper, I argue that there is indeed a fundamental problem with the water/H2O analogy, as it is usually construed, and that teleosemanticists should therefore reject it. Fortunately, there exists a viable alternative to the water/H2O model which avoids the fundamental problem, while explaining the a posteriori character of teleosemantics equally well.