LTR - Christof Wittig, a distinguished software entrepreneur, investor, and LGBTQ+ advocate, shared his insights. As the Founder and CEO of Hornet, one of the world's foremost queer social networks with ~30M users, he discussed the complexities of decision-making in the dating industry. Christof emphasized the importance of understanding network effects, particularly in online dating, where the value of a network grows with more relevant users.
He explained how taking an average approach to decision-making in different markets can lead to under-optimization. Christof used Hornet's example, where they customized strategies based on specific markets, focusing on factors like pricing and product features to maximize success. He stressed the need to differentiate between waves, tides, and climate change when analyzing data to distinguish between trends and temporary fluctuations.