"Harnessing Collective Wisdom: Building Glasp to Democratize Learning and Benchmarking Social Apps"

"Harnessing Collective Wisdom: Building Glasp to Democratize Learning and Benchmarking Social Apps"

Introduction:
In a world driven by the desire to leave a meaningful impact, both individually and as a society, it becomes crucial to learn from the experiences of others. The need to inherit and develop the trajectory of someone's life, especially the important parts, can greatly benefit humanity. This article explores the motivations behind building Glasp, a platform that aims to democratize access to other people's learnings and experiences as a utilitarian legacy. Additionally, it delves into the key benchmarks for growth in social apps, providing actionable insights for entrepreneurs in this space.

Part 1: The Desire for a Legacy
Human nature compels us to want to leave something good behind for future generations. The realization that only a handful of individuals throughout history have achieved this through books and traditions prompts us to question why we can't effectively learn from the experiences of others. By creating a system that allows everyone to share and develop their learnings as their legacy in a natural way, Glasp aims to fulfill this innate desire.

Part 2: Benchmarking Growth in Social Apps
For entrepreneurs in the social app space, benchmarking growth is crucial to success. Defining the core metric, such as daily active users (DAUs) or weekly active users (WAUs), sets the foundation for evaluating performance. Organic growth should be prioritized, as social apps are inherently viral and rely on users inviting their friends to enhance the experience. Any reliance on paid sources for user acquisition should be carefully reconsidered.

Part 3: Key Benchmarks for Social App Growth
To assess the health and potential of a social app, several key benchmarks need to be considered. These benchmarks include DAU/MAU ratio, L-ness curve, n-day retention, and weekly retention. Each metric provides insights into user engagement and the ability of the app to become a regular part of users' lives. The benchmarks for each metric are outlined as follows:

1. DAU/MAU Ratio:

• OK: 25%
• Good: 40%
• Great: 50%+

2. L-ness Curve (L5+ performance):

• OK: 30%
• Good: 40%
• Great: 50%+

3. n-day Retention (d1, d7, d30):

• OK: d1 50%, d7 35%, d30 20%
• Good: d1 60%, d7 40%, d30 25%
• Great: d1 70%, d7 50%, d30 30%

4. Weekly Retention (w1, w4):

• OK: w1 40%, w4 20%
• Good: w1 55%, w4 30%
• Great: w1 75%, w4 50%

Part 4: Cohorts and Network Effects
While point-in-time numbers provide valuable insights, evaluating cohorts over time offers a more comprehensive understanding of a social app's performance. Stable or improving metrics cohort by cohort indicate strong network effects, where the product's value increases as more users join. This emphasis on cohort analysis helps identify areas of improvement and assess the overall growth trajectory.

Conclusion:
Building Glasp is a testament to the innate desire to leave a legacy and harness collective wisdom. By democratizing access to other people's learnings and experiences, the platform aims to enrich humanity's intellectual growth. Additionally, understanding and benchmarking growth in social apps is crucial for entrepreneurs. By focusing on key metrics and striving for organic growth, social app creators can unlock the potential for success.

Actionable Advice:

1. Prioritize organic growth and ensure that your social app is inherently viral, with users actively inviting others to enhance the experience.
2. Regularly evaluate key benchmarks such as DAU/MAU ratio, L-ness curve, n-day retention, and weekly retention to assess user engagement and the app's ability to become a part of users' daily lives.
3. Conduct cohort analysis to identify areas of improvement and leverage network effects to enhance the value of your social app as more users join.