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Chat is a commodity. Right out of the gate, that's not great for margins.

Enterprise chat might not be a commodity quite yet - SSO, DLP/data classification, auditing, retention, compliance checkboxes - but these seem insurmountable at first glance to get a FOSS solution to reach a viable enterprise feature matrix.

Killer features as a moat might help, but while almost everyone uses chat, everyone probably uses chat differently, so that means discovering killer features for a niche and trying to own that segment before expanding. Unfortunately this is the "Draw the rest of the owl" part, because while I have quibbles with chat apps, I struggle to envision a chat app that does something radically different than any other chat app.



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