PERENNUS CASE NO. 01
ISSUED: JUNE 2026
Revenue Autopsy

How Notion Turned a Note-Taking Tool Into a $700M Identity Infrastructure.

Psychology without economics is journalism. This 54-page rigorous operational dissection tracks the exact causal links connecting Notion's behavioral choices to systemic Net Revenue Retention (NRR) leaks.

SECTION 08 The 10-Minute Email Fracture

Deploying the ceiling instead of securing the floor.

SECTION 10 The Over-Flexibility Tax

The silent churn anatomy of identity mismatch.

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