Evernote

Evernote and the folly of forever apps

Evernote CEO Phil Libin
Phil Libin, co-founder and former CEO of Evernote. Photo: Eric Piermont/AFP via Getty Images

Evernote, the popular note-storage app that announced layoffs on Tuesday, was supposed to be a "100-year company." Its promise, often made by former longtime CEO Phil Libin, was to provide a permanent repository for your research and your memories.

The big picture: The company turned 10 last summer and revamped its logo to celebrate. But now its users are wondering whether it will make it through another year.

Former Evernote CEO launches All Turtles, a modern twist on the product design studio

All Turtles

Former Evernote CEO Phil Libin unveiled his new project Monday, announcing plans for All Turtles, which hopes can tap some new ways of thinking to help companies build better products. As part of the move he is stepping down as a managing director at venture capital firm General Catalyst.

Anti-Silicon Valley: Libin, though a long time participant in Silicon Valley, criticized it for being too focused on huge valuations versus identifying key problems that are readily solvable.

QuoteUnchecked vanity and Silicon Valley math have entrenched the expectation that only ideas that might someday be worth ten billion dollars are worth starting. This is silly and almost never works.