Most products these days are low technical risk—meaning they won’t fail because the teams can’t execute on the engineering side to build the products—but they are generally also low defensibility. When something works, others can follow—and fast.

With certain projects, we might pull up specific data or metrics to see if the data gives us any more insights, but it’s not the way we make decisions. We don’t do A/B tests. We validate ideas and assumptions that are driven by taste and opinions, rather than the other way around where tests drive decisions. There is no specific engagement or other... See more

Consider the cascade of specialized productivity apps (not suites) over the years, like Evernote, Wunderlist, Any.do, Todoist, Trello, Clubhouse, Basecamp, and the list goes on. Many of these are stable businesses, but they all claim a small piece of a large pie (and one could argue, were not great VC investments from a multiples perspective). The ... See more