Lenny Rachitsky: uncertainty

Transcript context

…is what I call it, high frequency niche. And then there are the other two quadrants that are a bit more challenging. And then you have to figure out how to navigate your way into one of the other two. If you are in one of the top two quadrants, high ni and high everyone and you solve a really important problem, workflow problem, you can probably turn into a billion-dollar company. If you do the other two, there's some challenges that you have to go through. And the framework talks about how you should navigate those places into success. And I think it's very important because if this is true, and by the way, like I said, I did some validation on it, founders can start to, before they invest years, start to think about what probability of success is. And if you're an investor like me or VC, you can start to think about how you deploy your money. What are examples of companies in each of those quadrants? If you can frame this and I don't know if you have this in your head already. High frequency everyone workflows tend to be things that are done by the doorman to the CEO. So it's email, it's collaboration, it is writing, it is math, all the basic things. At Atlassian, we spend a lot of time thinking about this. So Word, we've had word processing forever in the workspace. Things like Notion and Confluence are huge as sort of evolution of that, Slack, email. Companies in that space, Google, Microsoft, Atlassian, et cetera. And the high ni, which is high frequency niche, you have things like Jira, you have things like tools for recruiters, you have martech, you have sales tech. And we know the companies behind them, Atlassian, Salesforce, so on and so forth. And then in the low frequency everyone, you have things like maybe form tools. And actually, they're not that many of them, low frequency everyone or even expense. Actually, the best expensing. Not everyone does it all the time, but everyone essentially has to do some of it, mostly, at least a lot of people. And then there's a low frequency niche, which is particular department. So planning, which is done by FPNA, but done infrequently, things like that.…

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