Former CPO at Eventbrite and growth expert at Pinterest and Grubhub, Casey Winters, discusses the resurgence of consumer tech and the opportunities it brings. People are more open to trying new products, but big players like Apple and Amazon dominate the landscape. Despite challenges, consumer markets are vibrant and growing, offering potential for innovative founders and product leaders.
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Quick takeaways
Consumers are more open to trying new paid products, shifting from freemium models.
Challenges exist for new consumer startups due to domination by big players and risky journey to mass market.
Deep dives
State of Consumer Software: Past and Present Trends
The podcast episode delves into the evolution of consumer software, highlighting shifts in focus between B2B and consumer businesses over recent years. It discusses how consumer software is experiencing a resurgence with the emergence of new technologies like AI. The conversation touches on the challenges faced by consumer startups and the need for strong product quality and profitability for success.
Impact of AI on Consumer Businesses
The episode explores the influence of AI on consumer startups, questioning whether AI can lead to a new bull market for consumer products. It considers the historical significance of platform shifts like mobile and internet in driving growth. The discussion emphasizes the importance of finding scalable growth loops for sustained success in consumer AI ventures.
Shift in Consumer Spending and Engagement
The podcast examines the growth and spending patterns in consumer tech, citing examples like TikTok, gaming platforms, and subscription services. It highlights the increasing consumer engagement with digital products and the potential for innovative monetization strategies. The conversation delves into the challenges of building and scaling consumer tech companies amidst a competitive landscape.
Strategies for Building Consumer Businesses
The episode offers advice for aspiring consumer entrepreneurs, focusing on product quality, profitability, and effective marketing strategies. It emphasizes the significance of bootstrapping and creating products with high retention rates and monetization potential. The discussion underscores the importance of scalability, network effects, and durable modes for long-term success in consumer ventures.
Ravi Mehta teams up with Fareed Mosavat once more. This week, Ravi and Fareed are joined by Casey Winters, former CPO at Eventbrite and growth expert at Pinterest and Grubhub.
š The Big Question for Today: Is consumer tech experiencing a resurgence? With the advent of AI, some believe we're on the brink of a consumer tech revolution. But is this really the case?
š¤· Is consumer back? Sort ofā¦ š¤·
The Good News š People are spending more time online and are more willing than ever to try new products, including paid products. The days of freemium being the only way to acquire customers is seemingly behind us. And, the rise of AI has opened up exciting opportunities for product-minded founders to create value for consumers.
The Bad News š¬ The landscape is dominated by big players like Apple, Amazon, and Epic, making it hard for new entrants. Plus, the journey from seed stage to a mass-market consumer platform is long and fraught with risk. As a result, weāre still seeing few and far between VC backed consumer start ups. But, just because consumer is largely not investable, doesnāt mean it isnāt vibrant and growing.
What should founders or product leaders interested in consumer markets do? Check out a full summary of the takeaways at UnsolicitedFeedback.co.
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