Should BlockFi prioritize adding new crypto assets or improving existing product features?

Introduction

The trade-off we're examining today is whether BlockFi should prioritize adding new crypto assets or improving existing product features. This decision is crucial for BlockFi's growth strategy and user satisfaction. I'll analyze this trade-off by considering market dynamics, user needs, technical feasibility, and business objectives. Let's dive into the key aspects that will inform our decision-making process.

Step 1

Clarifying Questions (3 minutes)

• Context: I'm thinking about BlockFi's current market position. Could you share how we're performing relative to our main competitors in terms of user acquisition and retention?

Why it matters: Helps gauge whether growth or retention should be our primary focus Expected answer: We're lagging in user acquisition but have strong retention Impact on approach: Would lean towards new assets for growth if acquisition is low

• Business Context: Based on our revenue model, I assume interest accounts and crypto-backed loans are our main profit drivers. Is this correct, and are there any shifts in this model we're considering?

Why it matters: Aligns product strategy with revenue streams Expected answer: Correct, with increasing focus on trading revenue Impact on approach: Might prioritize features that boost trading activity

• User Impact: I'm curious about our user segments. Can you tell me which segment has shown the highest growth potential recently?

Why it matters: Identifies target users for new features or assets Expected answer: Intermediate crypto investors looking to diversify Impact on approach: Could influence types of assets or features to prioritize

• Technical: Regarding our platform's scalability, how easily can we integrate new crypto assets compared to implementing new features?

Why it matters: Assesses technical feasibility and resource requirements Expected answer: New asset integration is streamlined, features more complex Impact on approach: Might favor adding assets if significantly easier

• Resource: I'm wondering about our current team capacity. Do we have more bandwidth in our asset integration team or our product feature development team?

Why it matters: Determines realistic execution capabilities Expected answer: Asset team has more immediate capacity Impact on approach: Could lean towards asset addition if resources are readily available