Luca Ferrari

And of course, it's costly, emotionally taxing for all involved to shrink that team.

It's difficult.

Because of all these factors, in my estimation, most companies are years behind in terms of the optimal staff.

They're actually years behind what they should be.

Could they control the people factor perfectly instantaneously?

Some management teams are better than others.

It's really just an inherent inefficiency of a single product model.

But because we can pool at least part of our R&D resources, and we really work on hiring people who are super flexible, adaptable, there's a whole batch of things you need to do for this to be feasible.

We can move them very quickly and attack these opportunities and withdraw as the opportunities are not there any longer.

This makes us super efficient, both on the offensive and on the defensive.

Another major advantage of our model, take Evernote.

It's a very nice business, nice product, beloved product.

Most people would consider the prospect of working at Evernote just average appealing.

Like it's a nice, probably nice company, but it's not as excited as I would be thinking about open AI or the next big thing.

So on average, a business like Evernote, no matter how charismatic, intelligent its leaders are, will attract somewhat average talent.

There will be a Gaussian function and some people better than others, but

Bad News Spoons is a model that's very appealing to people.

First of all, it's growing fast, so it feels like we're going places.

You have variety, so you know that you can test your skills and fine-tune and expand your skillset across a variety of challenges and businesses and technologies.

It's more, and in a way, from the talent attraction perspective, much better than an Evernote standalone.