Bill Gurley

And, you know, it may be different based on the type of customer, the size of customer, the source of the lead.

Like, all those things might be different.

Yeah.

You know, you may find I've always found it to be true when you are aggressive with marketing, you have much higher churn.

Like you get customer.

And whereas if you can earn a customer through PR or word of mouth, they typically stay around longer.

And so there that's an even tougher mathematical problem because you're trying to calculate unit economics over the lifetime of a customer early on.

I think people get into more trouble with the LTV formula than they do—than they get success out of it.

Well, I wrote—it's one of my favorite blog posts I've ever written, so if someone wants to go deep, it's called The Dangerous Seduction of the LTV Formula, and it's easy to find on Google.

Yeah.

You know, it's not an erroneous way to measure something.

It's actually a smart way to measure something.

But it's not a strategy.

And I think people get lost in thinking it's a strategy.

And especially if they're someone who's growing their business on a heavy marketing spin.

And I just, in general, I would...

You know, the blog post does all this, but I would push people, you know, really, really think about could I be winning customers with PR?

Could I be winning customers with with with nonpaid social?

Could I be winning customers with product led growth, which is a great thing?

a great way to think about your product bringing you customers itself.