The thing is, THS has repeatedly fallen short on features / functionality that many other companies get right.
Like THS hasn’t been able to manage a calendar feature that works, two factor authentication and so on. These are basics that users shouldn’t have to struggle with, and it’s because THS has weak execution and clear gaps in understanding its users / prospective users.
In product and service design, there’s a basic common concept of “eating your own dog food,” meaning you use your product or service so well that you get it as well or ideally better than your (prospective) users. Unfortunately, THS clearly lacks such practices and talent bar, so it repeatedly shortchanges and inconveniences users.
And that’s likely to continue, because it’s now under private equity pressure to generate significant revenue on a tight timeline. One of the key differences between being owned by PE versus venture capital is, VCs typically operate on longer timelines, so companies have greater runway to figure things out.
Plus, talented product people earn a lot in cash and equity. THS isn’t able to provide such (versus better run companies / ones with greater earning potential). It’s now trapped itself in poor circumstances. Like would a talented product leader work for a company with a relatively weak outlook vs. working somewhere more promising?
And people keep misunderstanding and saying or assuming that $100 million in PE money is lying around for THS to use to improve the business. As it was framed by THS / Mayfair messaging, the $100m was for a management buyout. That likely means the cash went into the pockets of previous investors, cofounders and maybe execs, depending on how equity was distributed starting from the outset. So the question would be, how much are its current owners willing to stake further, on top of $100m.
Private equity firms typically buy businesses that are already functioning relatively well and need stronger operations and management, so they can run optimally. But only good PE firms actually can pull that off. From the outside looking in, Mayfair doesn’t look like that type of firm, and what’s happened under its watch so far is not promising.
The above are some of the key reasons I don’t believe in THS improving services. I think they manage to do many things very badly, which is part of the reason I’m interested even if I don’t plan to renew — from the perspective of business, communications, etc., it’s like watching a slow-motion cautionary tale.
And note, user goodwill and trust also are business concepts, often with dollar values. To erode them is often a form of business malpractice.
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) have included a day before and/or after their travel dates. If I was being asked to arrive the day before, that would lead into me clarifying accommodation arrangements, to see whether I’m comfortable with what they’re suggesting.
