Nextdoor is facing systemic issues with its user demographics and use case that I believe are harmful to its long-term prospects. Its users are skewed to older ages and with the highest penetration in rural/suburb areas, significantly limiting their claimed TAM. Their use case which prioritizes "utility" over interaction has led to some of the worst engagement metrics of any social media platform. Want to learn more? Read my article and subscribe to my free newsletter where I post weekly deep-dives into public companies! https://thetathoughts.substack.com/p/engagement-problems-at-nextdoor