> Lock-in is the game. Users will pay. Many companies under-price their product and suffer the consequences.

Well, just yesterday the WSJ published an article [1] about bending spoons that include this detail:

> Evernote, a note-taking app acquired in 2023, was among the holdings Bending Spoons profiled in its IPO prospectus. Evernote’s revenue was 30% higher in 2025 than in 2022, and during that time average revenue per monthly active user rose 150%. What the prospectus didn’t say: Those figures meant the number of users fell 48%. Revenue rose through price increases as the customer base shrank.

So, a lot of users were not willing to pay.

1. https://www.wsj.com/finance/investing/at-bending-spoons-the-...