My thoughts on Zoom

So I have been skeptical of Zoom from the beginning. I use a lot of different video conferencing software, and have been doing so for over a dozen years. I just couldn’t see how a newcomer was going to be a guaranteed winner.

Well, Saul’s post a week and a half ago was a real eye-opener for me. As of several days ago Zoom was getting about 2,140,000 new users per day, and rising. In late January it was just 56,000 per day!!!

That means that in late March they were signing up 38 TIMES!!! the number of new users per day that they were signing up per day in January! That’s an awesome figure!!! It’s not 38% more! It’s 38 TIMES???

3800% growth in new users occurring in a month is beyond words, its beyond imagining. I’ve run a couple of startups, and even with the hyper growth in this segment, I’ve never even heard of growth like that for a mature startup. Besides that, Zoom has become a verb in the shortest time for any word since “Fire”. This level of growth, publicity, earned media is just unprecedented, and I don’t think the market realizes what it will do to earnings coming up.

I think the security issues are over hyped. Leaving poor default settings for security are done by almost every company in existence. They are accepting blame and fixing problems. This is what companies should do when security issues arise.

I think the sudden push back is providing a decent entry point. Unfortunately, I didn’t follow Saul on this one early on, but I can make up by buying now. I bought a full portion this week, and will add if more FUD around security happens.

Long ZM