New this week
A quick recap of the PH daily from this week:
- The funnel is fictitious
- Martech's (almost) 10,000
- Picking the right thing to own
- Allan Adler on lazy rivers
- The Death of Portals Debate!
What's the difference between HubSpot and Meta?
Ecosystem vs platform.
Ecosystem icon HubSpot is continuing to post record results at record paces amidst economic downturn and layoffs at other tech leaders.
Meta, on the other hand just announced that all hiring has been paused for the year after the slowest revenue growth in a decade.
This isn't apples to apples. But there's still something here.
Is Meta really an ecosystem? Or is it more like the Truman Show? An elaborate walled garden? A platform where the product is the user?
This is important.
A platform where the product is the user is not an ecosystem. It's something very different. It's not ecologically stable.
Look at the definition of B2B ecosystems in the PartnerHacker manifesto:
“…Information flows through the system – typically from influence to commerce – while trust is recycled, preserved, and grown.”
Meta is a platform (for now), but it ain't no ecosystem.
HubSpot is down 58% in stock price while Facebook is down 38%. So maybe I'm wrong?
But wait a damn minute HubSpot is BEATING earnings. And Meta is MISSING earnings.
Sounds to me like maybe it would be a good time to bet long on HubSpot and short on Meta as a spread trade. (Not financial advice).
I suspect Meta hasn't seen the bottom of the hole yet. And HubSpot hasn't seen the top of the mountain. One's more stable - an ecosystem. The other continues to test their trust with the market - a platform where the product is the user.