Improving the Way We Read and Discover Content: The Story of Matter and the Intersection of Consumer Startups

Improving the Way We Read and Discover Content: The Story of Matter and the Intersection of Consumer Startups

In an era where technology changes rapidly, it's fascinating to see how people remain fundamentally the same. This observation forms the basis of the investing thesis of a venture capitalist, who believes that the intersection of growth hacking, new tech, and pre-existing consumer motivations presents a unique opportunity for startups to thrive.

At Nextdoor, two individuals named Ben Springwater and Robert Mackenzie met and bonded over their shared love for reading. They were also avid users of the Pocket app, but they found themselves frustrated with the limitations of existing reading and content discovery platforms. They believed that the focus on RSS feeds in previous generations of apps hindered the overall reading experience, as it emphasized the "where" rather than the "who."

Recognizing the need for a more personalized and socially-driven reading platform, Ben and Rob came up with the idea for Matter. Matter aimed to improve the visibility of indie authors and provide a platform for users to curate and discover content based on recommendations from trusted individuals. They believed that trust recommendations were crucial in enhancing content filters and improving information diets.

To validate their hypothesis, they conducted a test by creating a roundup newsletter that curated content recommendations from public thinkers on Twitter. This test reinforced their belief that the best content on the internet was not necessarily the most recent, and that what you read could have a significant impact when aggregated.

With a clear vision in mind, Ben and Rob set out to find early adopters for Matter. They targeted three large online communities: the Interintellect, Progress Studies, and the Long Now Foundation. By working with the leaders of these communities, they were able to introduce Matter to their members, who were ideal users due to their active engagement in the world of ideas and their affinity towards certain themes and interests.

One of the key features that set Matter apart was its approach to content curation. Instead of following publications, users followed authors across the web. This allowed for a more personalized and diverse reading experience, as it tapped into the social graph of highlights. Users could discover and follow what people they admired found interesting, expanding their horizons and challenging their world views.

However, measuring the quality of content proved to be a challenge. Matter relied on insights, information density, and the author as proxies for high-quality pieces. Success for Matter meant surfacing insightful content from obscure sources that users would not have otherwise discovered, thereby enriching their reading experience.

While Matter focused on revolutionizing the reading experience, another aspect of consumer startups was also gaining momentum. The venture capitalist who recognized the enduring nature of human behavior saw great potential in startups that harnessed the intersection of technological change and pre-existing consumer motivations.

One example he highlighted was Michelin Guides, which packaged all the destination restaurants across France and eventually the world. This innovation gave people a reason to drive and explore new places. By understanding the consumer's desire for discovery and new experiences, Michelin was able to tap into a pre-existing motivation and drive demand.

The venture capitalist also emphasized the power of growth hacking in driving consumer demand. He mentioned a feature that allowed users to take a selfie and see what kind of famous artwork they resembled. By tapping into people's obsession with selfies and creating a fun and engaging experience, the product generated word-of-mouth marketing and viral acquisition.

He further highlighted the effectiveness of growth hacks in creating scalable opportunities for startups. The use of mobile apps, for example, has allowed startups to create demand and solve the chicken-and-egg problem that many consumer packaged goods companies faced a hundred years ago. By leveraging new technologies and platforms, startups can quickly and effectively grow their user base.

Looking ahead, the venture capitalist identified video as a significant opportunity for growth. Beyond music videos, he believed that any product that automatically generates video when users engage would drive more sharing activity and increase viral acquisition and engagement. The key was to make the creation of videos effortless, allowing users to effortlessly generate and share content.

In a world where online channels are becoming saturated and advertising costs are rising, the venture capitalist also saw opportunities in the real world. Even simple activities like going from point A to point B could be made social, tapping into people's innate desire for connection and interaction.

In conclusion, the stories of Matter and the intersection of consumer startups highlight the importance of understanding human behavior and leveraging technological advancements. Improving the way we read and discover content requires personalized experiences, trust recommendations, and a focus on surfacing insightful and challenging content. Similarly, consumer startups that tap into pre-existing motivations, utilize growth hacking techniques, and embrace new technologies have the potential to build the next generation of successful companies.

Three actionable pieces of advice can be derived from these stories:

1. Focus on the "who" rather than the "where" when it comes to content consumption and discovery. Emphasize trusted recommendations from individuals rather than relying solely on publications or RSS feeds.

2. Leverage the power of social connections and the social graph of highlights. Allow users to follow and discover what people they admire find interesting, expanding their horizons and challenging their world views.

3. Harness the intersection of technological change and pre-existing consumer motivations. Identify opportunities where new technologies can enhance existing consumer behaviors and create scalable growth opportunities.

By incorporating these insights into content platforms and consumer startups, we can improve the way we consume and discover information while building innovative and successful companies.