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Camille Ricketts: prediction

11 Dec 2022 Lenny's Podcast How Notion leveraged community to build a $10B business | Camille Ricketts (Notion, First Round Capital)

“Because there's always opportunity I think later once you have that big tide of people who are not just excited but also legitimizing what it is that you do every single day, that gets mobilized in a lot of different directions and you have a lot more options then.”

— Camille Ricketts

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Everything needed to verify it.

Speaker
Camille Ricketts
Attribution
Verified speaker
Claim type
prediction
Recorded
11 Dec 2022
Publisher
Lenny's Podcast

Transcript context

…You touched on this, that if the founder believes in the power of community, this becomes so much easier. A lot of founders are like, "Nah. That's a waste of time." Do you think founders are convincible that building community and investing in community is worth it? Have you seen that effective where a founder just comes into it being like, "Nah, I don't think this is worth our time," and then they get convinced later? Or is it just like, "Nah, forget it. Don't even try."? I mean I've talked to a lot of different people who come at this with different impressions and everybody knows more about their company than I do, but I do think that if ubiquity or just the sheer word of mouth engine is something that is going to be valuable for your company over time, I would really urge people to sit down and really think carefully what is going to be more conducive to our long-term success? Is it going to be that ubiquity or is it going to be revenue now? And I think if we look at a lot of the companies that have been just wildly successful from the start, they're people who have pushed off maybe monetizing every little thing if it's going to really put a damper on that type of enthusiasm and momentum that people have to share it at what it is they're doing. Because there's always opportunity I think later once you have that big tide of people who are not just excited but also legitimizing what it is that you do every single day, that gets mobilized in a lot of different directions and you have a lot more options then. What's interesting about Notion is you have high LTVs when you sell to larger companies, but the initial users are often just regular folks. And so I think it's a unique place where you have cash to spend on making it ubiquitous and getting the word out through all these community efforts because it'll pay off. And a lot of companies probably don't have that advantage. So would it feel right to say that this is really effective for product led, growthy, freemium products most? Is that a good way to think about it?…

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