David Lee

David Lee explains how to measure cohort retention by grouping new users, choosing a meaningful active-user action, and matching the measurement period to how often the product should be used. He shows how to read retention tables and curves, arguing that whether a curve flattens matters more than its height because retained users can accumulate over time. He warns against misleading metrics, including overly broad time periods, shallow actions, isolated retention figures, and misunderstood analytics dashboards. He closes with ways to improve retention through product changes, better user targeting, onboarding, and network effects, and shows how retained cohorts build a growing user base.

David Lee explains how SV Angel evaluates founders, emphasizing the team over the idea and the ability to communicate a clear vision. He describes why founders need to listen carefully, synthesize feedback, and adapt while staying persistent, using Rick Morrison’s fundraising and product changes as an example. For founders choosing investors, Lee recommends weighing the help they can provide alongside their money, rather than focusing only on valuation or dilution. He closes with the lesson he learned from Ron Conway: a founder’s reputation is their biggest asset, built through focus and leading by example.