Social network Genie failed because Facebook expanded into users over 30
George Zachary · 20VC: CRV's George Zachary on His Relationship To Money and How it has Changed Over Time, Why The Best Founders Have Often Experienced Parental or Home Instability and The Stories Behind Investing in Unicorns; PillPack, Yammer and Udacity · Oct 12, 2020 · at 16:39
George Zachary, general partner at CRV, discusses the failure of David Sacks' early startup Genie prior to its pivot to Yammer.
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“The thesis behind Jeannie was that there would be a social network for people above 30. Unfortunately, Facebook Expanded into that segment. So that didn't work out.”
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