When 37signals started coming out with products, they were really early to the "self-serve saas web app built by cool web devs just like you and me" model. In many ways, they practically invented the industry. Fast forward 9 years or so and the market is very crowded with plenty of investor money allowing businesses that will never turn a dime to stay in business too long (sell lots of jackets)--on the premise that they can be like 37signals.
For startups from the last 2-3 years (or ones currently entering that business), given the competitive reality + the massive downward pressure on saas prices (not to mention upward pressure on user expectations), I don't think the analogy works as well.
Also, 37S never has published numbers, so who really knows what their growth/profitability has looked like over the past several years? I wouldn't be surprised if their growth has slowed significantly due to steeper competition and an inevitable cooling of their brand's coolness.
For startups from the last 2-3 years (or ones currently entering that business), given the competitive reality + the massive downward pressure on saas prices (not to mention upward pressure on user expectations), I don't think the analogy works as well.
Also, 37S never has published numbers, so who really knows what their growth/profitability has looked like over the past several years? I wouldn't be surprised if their growth has slowed significantly due to steeper competition and an inevitable cooling of their brand's coolness.