This Week in Startups E994: All Turtles CEO Phil Libin shares his state machine that answers all growth questions; Future of Early-Stage VC w/Pete Flint (NFX), Rebecca Lynn (Canvas Ventures), Dave Samuel (Freestyle Capital); plus LAUNCH Scale Partner Talk w/Lever CTO Nate Smith
Oct 29, 2019
Phil Libin, CEO of All Turtles and former Evernote head, introduces his innovative state machine theory that transforms startup growth strategies. Pete Flint, from NFX, shares insights on transitioning from founder to venture capitalist, while Rebecca Lynn of Canvas Ventures discusses early-stage VC dynamics and recruiting methods. Dave Samuel from Freestyle Capital talks about mentorship with founders, and Nate Smith, Lever's CTO, delves into effective hiring practices for startups.
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State Machine for Growth
- Instead of using numerous ratios, measure user transitions between states.
- This approach helps understand growth dynamics better than abstract metrics.
Prioritize Bounce Rate over Growth
- Focus on acquiring enough users for a statistically significant bounce rate calculation.
- Don't prioritize growth until you have a healthy bounce rate (below 30%).
Bounce vs. Churn
- Retention combines bounce and churn, which have distinct causes.
- Measure bounce and churn separately for effective intervention.
