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I've watched a number of Schultz's presentations - but this one felt rushed to me. Really wish he'd clarify a number of the points he made in a followup blog po
by wonderous 9y ago
I've watched a number of Schultz's presentations - but this one felt rushed to me. Really wish he'd clarify a number of the points he made in a followup blog post instead of suggesting the listener figure out what he meant.
- pilingual 9y agoWell maybe other people on HN have something provoking to contribute, so why not ask your questions here?
- wonderous 9y agoAround 19:25 is one time he makes the request for the listener to figure out what he meant, related material appears to start around 18:15.
- pilingual 9y agoHere Alex is specifically talking about retention and not growth. He uses ad sales as an example and talks about the first 250 days as a snapshot of what retention looks like. Recall earlier he mentions that if you have a social network and your retention is 5% it probably isn't going to work out, but if you have a high end apparel business 5% retention could mean a good business. The graph he presents has a blue line which demonstrates number of people in the system (100% today, 0% 250 days ago). The pink line is the total revenue of everyone using the ad service on the 30/31st day divided by the number of signups 30/31 days ago. If the curve starts declining, why is it declining? Does the advertiser need to be pinged with email every week? Etc. So the goal is to make sure the curve asymptotes early on so you know it is a viable business. You could imagine Facebook trying to sell apparel with "FACEBOOK" on it and the retention curve would decline; not a good business. After this he begins to talk about growth. You can’t have growth without first identifying product/market fit.