Sublime

Larger competitors are often able to copy the product, but find it difficult to capture the network.

At the other extreme, over-focusing on sustainable business fundamentals, like profitability, carries the risk of losing significant market share to competitors.

pour all our resources into customer acquisition creates the potential for success failure, wherein we succeed at attracting customers but fail at keeping them happy.

relationship of earnings and stock prices—the correlation’s very low.

The success of each fund entirely rests on the top one to three companies in the fund. There’s often even a large gap between the returns from the No. 1 company and those from the runner-up. Fred Wilson, co-founder of Union Square Ventures, uses a heuristic of thirds: “one deal returns the fund, another 3 to 4 deals return it again, and the rest

The company challenged the world by requiring that the winner improve upon Netflix’s own established recommendation capabilities by 10 percent. Netflix is a prime example of PA in action, as a reported 70 percent of Netflix movie choices arise from its online recommendations.

provides a 360-degree view of the costs and benefits of personalization to the business.

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