Hot in Enterprise IT/VC - What’s 🔥 in Enterprise IT/VC #397
What’s 🔥 in Enterprise IT/VC #397The death of hypergrowth + high growth publicly traded enterprise software cos = Opportunity?Looking at this chart was still the big shocker for me this past week. Following last week's turmoil in the SaaS sector, which saw numerous stocks take a hit, the fear persists with the revelation that no publicly traded enterprise software companies are expected to see growth exceeding 30% in the upcoming year. But amidst this carnage, I see opportunity. All of those late-stage private 🦄 who saw growth slow down from >100% to 25-50% are now attractive once again as compared to the public markets! Why would anyone buy a new IPO at 30% growth burning cash if they could buy much larger scale public companies growing faster and generating real cash flow. Well guess what? Those companies no longer exist. We no longer have publicly traded enterprise software companies growing >40% as of 6 months ago and no more >30%. I expect we will see more IPOs in the next 6+ months after the election and perhaps with another rate cut. Those 🦄 who course corrected quickly to aim for 30%+ growth and are at or near cash flow breakeven now look super attractive again to Wall Street 🤞🏼. The opportunity to earn premium multiples are here again. A great example is Netskope which just released some of its numbers which are super compelling!
Switching gears, I wanted to share this cover story profile that Iain Martin wrote about me and my 28 year journey as an inception partner for enterprise software founders. Unfortunately, it’s behind a paywall but let me share an excerpt or two as I can tell you there were lots of ups and downs in this journey. Click the pic below for the thread and links to the article.
Also, Ian Swanson, co-founder and CEO of Protect AI shares how we partnered together starting in late 2021. This is true Inception Investing and glad to see Forbes recognize it as a thing? (LinkedIn post here)
I’m so 🙏🏼 to have the opportunity to partner with amazing founders looking to create new industries and also to share my ramblings with you every week. As always, 🙏🏼 for reading and please share with your friends and colleagues. Scaling Startups#the state of venture capital fund performance from Mercedes Bent, Lightspeed #from author Ryan Holiday
#and author Robert Greene - be bold!
#Must read Beyond Benchmarks report from Emergence Capital covering performance benchmarks and what’s latest in AI… Huge difference between Top Quartile and Top Decile! #This post has gone viral with 2.5M views already - “The End of Software” from Chris Paik, makes lots of comparisons to media industry and how user generated content drove cost to zero - totally disagree with this narrative but worth a read…Enterprises will pay for software that is secure, reliable, maintained, trustworthy etc and AI will help unleash lots more software to do more things but won’t drive the cost to zero like media Enterprise Tech#❤️, must watch Ted talk, “12 Predictions for the future of technology” from investing legend Vinod Khosla - billions of agents running around on the Internet doing things for humans, from the practice to the science of medicine…some big thoughts!
#the latest open source drama in streaming data infrastructure land - I encourage you to check out Jay Kreps from Confluent’s full 🧵 and so agree with below… #cool to see ecosystem in Paris built on top of Mistral LLM but can’t say many of these are companies…
#always love old posts revisited - here VC vet Rory O’Driscoll with Scale Ventures shares some timeless lessons #one of key points from last week’s What’s 🔥 #396 was that the SaaS red wedding could also be a net positive for startups:
#I finally had a chance to dive deeper into the Battery Q1 CIO spending survey and found a few interesting nuggets:
AI is a wedge and opportunity for startups to disrupt incumbents and anecdotally from my portfolio along with surveys, we see AI can be an insertion point and wedge into large enterprises. Here is one other slide that caught my eye - look at 5 year ahead forecasts on spend and DevTools in particular 📉 Matt Harney from SaaSletter breaks down the Battery report with key slides on X 🧵 here #the bear case on AI from Chris Mims WSJ - as you know, it’s both for me, in the long run it’s absolutely transformational, and in short run we have a massive bubble that will pop
#AI in the enterprise as Alex Karp from Palantir sees it
Markets#Cybersecurity keeps delivering as Crowdsrike crushes earnings - here’s CEO George Kurz’ LI post:
#A great primer on what makes Crowdstrike so special from Ivanka Delveska, CIO of Spear #Snowflake got the end around as Databricks buys Tabular Data for $1-2B (CNBC)
#Those security breaches aren’t helping Snowflake either (TechCrunch)
#😲 Carta’s valuation to be cut by $6.5 billion in upcoming secondary sale (TechCrunch) What's Hot 🔥 in Enterprise IT/VC is free today. But if you enjoyed this post, you can tell What's Hot 🔥 in Enterprise IT/VC that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
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What’s 🔥 in Enterprise IT/VC #395
Monday, June 3, 2024
A walk down memory lane - AI + Intelligent Automation circa 2017 + now, Gartner Hype Cycle from 2019 vs. 2023 - this stuff takes a long time! ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #396
Monday, June 3, 2024
Enterprise software & AI - the future is already here, it's just not evenly distributed ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #394
Saturday, May 18, 2024
Let's go - great to see developer first infrastructure startups like Vercel + Harness cross the $100M ARR mark - what's next? ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #393
Saturday, May 11, 2024
Top 10 Takeaways from the RSA or RS-AI 🤖 Security Conference ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #392
Saturday, May 4, 2024
Raising a Series A is the hardest it's been in over 4 years but the Series B crunch is also coming - what to do when you're stuck... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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