1. The document discusses metrics for measuring and optimizing the virality of applications, including viral coefficient, viral rate, average messages sent per event, message conversion rate, percentage of new users invited, and conversion to installs. 2. It describes testing different contexts, calls to actions, and messages through A/B testing and analyzing metrics like message sending and acceptance rates among user demographics. 3. While viral metrics can help test and iterate applications quickly, they cannot build a good product on their own - creative work is also needed to achieve long-term virality and user value.