> Lock-in is the game. Users will pay. Many companies under-price their product and suffer the consequences.

Well, just yesterday the WSJ published an article [1] about bending spoons that include this detail:

> Evernote, a note-taking app acquired in 2023, was among the holdings Bending Spoons profiled in its IPO prospectus. Evernote’s revenue was 30% higher in 2025 than in 2022, and during that time average revenue per monthly active user rose 150%. What the prospectus didn’t say: Those figures meant the number of users fell 48%. Revenue rose through price increases as the customer base shrank.

So, a lot of users were not willing to pay.

1. https://www.wsj.com/finance/investing/at-bending-spoons-the-...

That's bending spoons' business model. Buy a declining business and drive it into the ground by extracting as much value as they can from the customers still dependent on it.

It's basically the broadcom model for VMware. Sadly this model is very popular these days.

I'm very happy with obsidian these days though I don't use their sync service. The self hosted livesync is pretty good though a bit quirky at times.