The Build-vs-Buy Reversal Hiding in Plain Sight
Before agreeing to buy Fathom, Superhuman spent time building its own meeting notetaker internally [1]. CEO Shishir Mehrotra says that effort didn't fail for lack of user demand - if anything it confirmed how badly people wanted the feature - but it exposed just how hard the category is to execute end-to-end: "We've been working internally on this area for a while as well. I think it greatly increased our confidence in the demand in this category. It also becomes very clear how deep the products in this category are and how much you need to build. A lot of these products make the job feel really easy, but it's actually quite tricky to do a great job in all parts [of meeting recording]." [1]That's an unusually candid admission from an acquirer: rather than framing the deal as pure strategic expansion, Mehrotra is saying Superhuman tried to build this internally and concluded a four-year-old, YC-backed team with 400,000-plus monthly active users had already solved it better [1].

