I haven’t owned Sonos gear in a long time, but certainly back in the day they had just amazing products. That SUB where it was so perfectly balanced? They did a demo (that you could easily reproduce at home) where you could have it driving “call the cops” noise disturbance bass without upsetting a nickel set lengthwise on top, just a great unit and not the only one. Awesome stuff.
But while superior products at a price point can capture a bunch of share, after that they grow at the rate of the market. Those markets have “matured”.
For whatever reason we don’t as a society let “tech” markets mature. We demand growth long after everyone is satisfied.
This is where ideas like “growth” and ideas like “useful” diverge: raise your hand if you like Facebook or Google in 2025 more than 10-15 years ago.
Sonos (and I’m aware of the structure) “grew” right out of a sustainably profitable business with happy customers.
But while superior products at a price point can capture a bunch of share, after that they grow at the rate of the market. Those markets have “matured”.
For whatever reason we don’t as a society let “tech” markets mature. We demand growth long after everyone is satisfied.
This is where ideas like “growth” and ideas like “useful” diverge: raise your hand if you like Facebook or Google in 2025 more than 10-15 years ago.
Sonos (and I’m aware of the structure) “grew” right out of a sustainably profitable business with happy customers.