Pocket Universe (Refract) Investor Update Jan 2023

Happy new year!

I hope everyone had a relaxing end to 2022 and is ready to start 2023 with a bang!

Let's jump right into the update.

What is the framework do you use to decide between delighting users vs simply doing things with the highest impact?
- For example, one of our super fans wants a certain website to be supported with Pocket Universe. However, our analytics show us that very few of our users use that website. Do we still build it just to delight that one user?
- I quite like Michael Seibel's advice (https://youtu.be/C27RVio2rOs?t=2954) of just building little things for the users to help spread the product more through word of mouth.

Weekly Active Users (not wallets): 12,330 -> 16,324 (+32.4% month on month)
4 week weekly moving average: +6.61%
- weekly growth numbers: +8.21%, +4.68%, +5.75%, +7.8%
Burn: ~$7 595, ~5 months cash left

Despite amazing overall growth, our growth strategies have still not had the best results. Our growth is still primarily through word of mouth.
- In the next few month's we're going to be going back to our roots and focusing on product led growth. We will be relentlessly focused on improving the product as opposed to external growth campaigns (e.g. galaxe quests).
Misfires and not listening to users
- We built products that weren't thought out well enough. Wasted a significant amount of time building things that had little or no impact. We need to talk to users more and solving their pain points.

I did 20 days of Advent Of Code (https://adventofcode.com/) all livestreamed on twitch https://twitch.tv/jqphu! It was great fun and I'll likely be using these as interview questions in the future 👀

Don't jump straight into building a solution. Keep de-risking and looking for easier ways to build the same thing. Our mobile approach has changed significantly about 4 times but each approach is significantly better than the other.