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Of course, as an investor you can’t run A/Btests or analyze results directly, but you can form hypotheses, ideate, and apply the same type of thinking. Thinking about new user experience, engagement metrics, and other important concepts. The problem is that the Growth Accounting Framework provides for lagging metrics.
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It seems as though every consumer app has implemented some form of a referral program, though I argue it really kicked off in ~2008, which is when Dropbox’s innovative referral program was rolled out. We see the same rough patterns in referral programs that are implemented across the industry. The structure of a referral program.
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