The Daily Egg

DECEMBER 30, 2020

He’s a hedge fund manager who had foreseen the shocking 2007-2008 housing collapse. Have you heard of Michael Burry? Having betted against subprime-mortgage bonds ahead of the meltdown, he made about $750 million in profits for his investors and $100 million personally. But how was he able to predict something like that?

Data Analysis 281

Data Analysis Software Review Data Software 281

Tom Tunguz

MAY 24, 2023

Ten years ago, Nvidia’s market cap hovered around $4b, down from its previous high of $13b in 2008. Today, Nvidia is the fifth most valuable technology company in the US, worth nearly $1t - just 20% less valuable than Amazon. In a decade, the business increased in value about 250x, compounding at about 74%.

Machine Learning 268

Machine Learning Artificial Intelligence B2C AI 268

SaaStr

JANUARY 1, 2023

Change at a pace we haven’t seen since 2008, when the world of SaaS was just so, so much smaller. But they do bounce back fast. — Jason Be Kind Lemkin  (@jasonlk) December 30, 2022. So this last year was one of so much change. Just 12 months ago, Bitcoin was at near-highs, as were many SaaS stocks, and multiples. And then … crash.

Trends 270

Trends Enterprise SaaS Software 270

Tom Tunguz

DECEMBER 12, 2021

Also, 2014 to 2016 saw a 57% reduction in multiples and of course after 2008. Since 2016, public software has witnessed four corrections. Today, we’re in the midst of the fifth. But let’s look at the most recent five years.

SaaS 351

SaaS Cloud Enterprise Software 351

SaaStr

MARCH 28, 2023

November 23, 2008 I’m at a conference in Half Moon Bay I get a phone call from my banker at Citibank “Jason, pull all your money out. And our banking probably should be more conservative for a little while, too. Even if it was something we hardly used to think about. History doesn’t repeat, but it does rhyme.

Startup 259

Startup Banking Finance Consulting 259

Tom Tunguz

JUNE 14, 2022

During the dotcom crash in 2001, the Global Financial Crisis of 2008, and the SaaS corrections in 2014, 2016, and 2018, Lee was either COO/CFO or CFO at Twilio, SAY Media, and Ofoto. Lee Kirkpatrick is no stranger to downturns.

Management 227

Management Finance Payment Features Subscription 227

SaaStr

JANUARY 17, 2023

I sold a sales tool in 2008-2009 when the global economy was in total meltdown, and I’ll tell you, we sure didn’t stop selling. We had a great conversation on how much harder it is now with Gong’s incredible CRO here: But is that an excuse to sort of quiet quit? To give up a bit? I say No. In fact, I always say No.

Sales Hiring 212

Sales Hiring Sales Startup Investment 212

SaaStr

APRIL 6, 2020

I wrote an early SaaStr post way back in 2013 on my “Year of Hell” as a SaaS CEO in 2008. My personal Year of Hell was 2008. In 2013, we were just 2 years removed from the real recovery from ’08-’09. So if you’re in your Year of Hell, you’ll get through it. We’ve all been there. It was a tough year.

Scale 332

Scale SaaS Cloud Scaling 332

SaaStr

JULY 10, 2024

It was founded in 2008 but took a while to get going, hitting $1m in revenue in 2011 selling to Utah schools — and then scaled from there. Instructure is one of the leading learning management systems for education with its Canvas product. Your kids may well use it. You may have in college, too.

Scale 217

Scale SaaS Payments Payment Services Payments 217

SaaStr

MAY 22, 2023

Even the 2008-2009 downturn, while truly brutal, didn’t hit SaaS as hard as the rest of the economy. Not easy, but easier and easier: There was a bump in 2016, a Flash Crash in SaaS, when budgets were slashed, but it didn’t last long enough to really impact renewal cycles. SaaS markets had fully recovered later that year.

SaaS 242

SaaS Churn Sales Software 242

SaaStr

OCTOBER 18, 2023

Billion way back in 2008. So Domo is an interesting case study on SaaS entrepreneurship. Founder Josh James had one of the earliest $1B+ exits in SaaS when Adobe bought his first start-up, Omniture, for $1.8 Omniture is still big and it dominated web analytics especially for bigger companies in the earlier days of the internet.

Entrepreneurship 237

Entrepreneurship Enterprise Pricing Churn 237

SaaStr

NOVEMBER 20, 2024

GitHub, founded in 2008, is a leading platform for software development and version control that has made waves since 2018 with its AI Copilot.

Scale 228

Scale AI Scaling Marketing 228

SaaStr

MARCH 10, 2023

Public multiples often were around 4x-5x in 2008, and then the global meltdown came, and public multiples fell to as less than 2x revenue for a while. Then, well, right after we sold EchoSign to Adobe way back in 2011, things picked up, with a slow with material and steady increase in public multiples from 2012 to 2015.

SaaS 228

SaaS Trends Enterprise Revenue 228

SaaStr

FEBRUARY 22, 2024

I started both my companies in downturns, post-2000 and post-2008. What’s your pulse check on the venture markets right now, today? This is an incredible time to build companies. The innovations and technological breakthroughs we’re seeing are amazing, and I am confident we will see some important companies come out during this time period.

Innovation 238

Innovation Wireless Acquisition Technology 238

Tom Tunguz

NOVEMBER 5, 2022

In February 2008, the ARS market seized. In the mid-2000s, many startups invested their excess cash reserves in instruments called Auction Rate Securities. ARS produced a steady stream of interest payments, like savings accounts, with a higher return. Startups seeking to sell their ARSs to fund burn were out of luck : no one would buy them.

Venture Capital 191

Venture Capital Banking Startup Investment 191

Tom Tunguz

AUGUST 18, 2022

Since 2008, the US experienced an unabated 12 year bull market fueled by four waves of money printing which increased US money supply by 30%+. The slides are embedded above & linked here. My brief narrative of the slides follows. The current state of affairs arose as a result of the Global Financial Crisis.

Pricing 243

Pricing Startup Investment Technology 243

Tom Tunguz

NOVEMBER 17, 2022

I remember joining in 2008, a green product manager out of Google who had just landed his dream job. Many of the greatest companies have been founded during difficult market conditions. This era will be no exception. I’m deeply grateful to the Redpoint team.

Venture Capital 188

Venture Capital Machine Learning Artificial Intelligence Innovation 188

Sales Hacker

DECEMBER 5, 2023

What You Will Learn: May’s perspective on the economy now compared to that of 2008/2009. Highlights: (6:12) May’s learnings from Lehman Brothers and the economic crisis of 2008/2009. (14:11) Writer’s decision to make PLG table stakes and how they leverage their motion to secure enterprise customers.

Sales Recruiting 99

Sales Recruiting Enterprise AI Banking 99

Tom Tunguz

MARCH 15, 2020

My hunch originates from this analysis of the 2008 crisis. I expect the venture market to slow round counts for a quarter, but then resume. As growth rates fall, valuations should move similarly. But it’s too early to say for sure. Here’s a basic model you can download and play with the inputs.

Sales Hiring 282

Sales Hiring Churn Development Software 282

SaaStr

MARCH 7, 2024

Creandum led the first institutional round in 2008 and it became Europe’s largest tech company to go public ten years later. No big egos but really act with high trust, integrity and long term thinking. #6. What’s an “exit” you’re particularly proud of? Peter is a General Partner and runs Creandum’s London office.

Payments 202

Payments Payment Services Payment Solutions Scale 202

Tom Tunguz

MAY 11, 2023

The iTunes store launch in 2008 enabled Uber. Mastering social distribution ( sheep-throwing in the early days) on MySpace & Facebook’s propelled YouTube & Zynga, not to mention the social networks themselves. What is the distribution advantage AI confers to startups?

AI Search 165

AI Search AI Scale Cloud 165

SaaStr

NOVEMBER 8, 2024

Back in 2007 / 2008, when Sam joined a company as an SDR, he used Salesforce and over time, they bolted on different systems, depending on the needs of the business and what existed in the marketplace. It blends AI and SaaS and can speed up the outbound Go-To-Market process.

AI Search 223

AI Search AI Sales Hiring Systems Review 223

SaaStr

APRIL 14, 2020

Adapt, Plan Deliver: Founder/CEO Lessons from 2000 & 2008 Applied to 2020 With Twilio CEO Jeff Lawson and Bessemer Venture Partner’s Byron Deeter. This should be an incredible deep-dive on the opportunities and challenges to selling into the enterprise right now.

Enterprise 268

Enterprise Sales Strategy 268

Sales Hacker

SEPTEMBER 20, 2022

In May 2008, I graduated college — with 1.56 million of my peers — directly into the 2008 recession. Basically: Today’s economic climate looks very different from 2008. Signs of recession we’re seeing now vs. 2008. And finally, Mike pointed out, in some important ways, today’s “uncertain times” aren’t like 2008 at all.

Sales Hiring 82

Sales Hiring Marketplace as a Service Payment Services Banking 82

Tom Tunguz

APRIL 21, 2020

In particular, narratives stoked three depressions and recessions in the US in 1920, 1929, and 2008. Robert Shiller wrote Narrative Economics , in which he explores how stories impact the economy. Shiller, a respected and lauded professor at Yale, models the spread of narratives in these periods using epidemiology.

Sales Recruiting 293

Sales Recruiting Banking Engineering Customer Support 293

Tom Tunguz

MAY 5, 2020

In March, I published analysis of the fundraising market in 2008. It showed that the later rounds, the series B and series C were the most impacted. The early data from March 2020 shows a different pattern. Seed and Series A rounds are first to bear the compression in the market. Later rounds are unblemished.

Marketing 249

Marketing Trends Startup Investment 249

SaaStr

APRIL 30, 2020

Founder/CEO Lessons From 2000, 2008 and 2020 with Jeff Lawson and Byron Deeter , CEO of Twilio and GP at Bessemer Venture Partners. Funding in the Time of Coronavirus, Mark Suster , Upfront Ventures. Marking Trade-Offs in Marketing: What to Do, What to Pause with CMO of Tripactions , Meagan Eisenberg.

Enterprise 187

Enterprise Strategy Sales Management 187

Tom Tunguz

MAY 10, 2022

Each Basel Accord was authored in response to a crisis Basel I - the crash of 1989; Basel II - the dotcom crash, and Basel III - the GFC of 2008. The first three Basel Accords set the minimum amount of capital a bank must hold.

Banking 241

Banking Government Construction Startup 241

IT World

MAY 24, 2023

Evernote launched in 2008 and has enjoyed steadily increasing user numbers since then; the company says it has 225 million users worldwide. Launched in 2003, OneNote was added to the Microsoft Office suite (most versions of which are now called Microsoft 365) in 2007.

108

108

SaaStr

MAY 9, 2020

9: Founder/CEO Lessons from 2000 & 2008 Applied to 2020 with Jeff Lawson, Twilio and Byron Deeter, Bessemer Venture Partners. #10: . #7: Twilio: The Inside Story With Jeff Lawson (A SaaStr Classic). #8: 8: 12 Key Levers of SaaS Success with David Skok of Matrix Partners (another SaaStr Classic). #9:

Benchmarks 206

Benchmarks Trends SaaS Revenue 206

SaaStr

OCTOBER 19, 2022

It was founded way back in 2008, and had a slowish start and a smallish IPO (as did most of us, back in the day). But founder-CEO Chad Richison has kept at it for 14 years, building it into an incredible engine, growing 31% at $1.2 40% EBDITA. They've got the combo of pretty high growth AND profits pic.twitter.com/OaOEEwN2Yn.

Scale 267

Scale SMB Engineering Cloud 267

Sales Hacker

JULY 28, 2022

Learn what these leaders did in 2008 when the recession hit and what they wish they had done differently. You’ll learn: What these leaders did right in the 2008 recession — and what they wouldn’t do again. So we’re calling in the big guns. Guests: Mary Shea , Global Innovation Evangelist at Outreach.

Sales 85

Sales Innovation Pricing Management 85

Andreessen Horowitz

FEBRUARY 27, 2021

In his classic 2008 essay “ 1000 True Fans , ” Kevin Kelly predicted that the internet would transform the economics of creative activities: To be a successful creator you don’t need millions. You don’t need millions of dollars or … The post NFTs and a Thousand True Fans appeared first on Andreessen Horowitz.

Blockchain 145

Blockchain 145

Clouded Judgement

SEPTEMBER 27, 2024

Microsoft launched Azure in 2010, and Google launched GCP to the public in 2011 (they launched a preview of Google App Engine in 2008, but made it publicly available in 2011). Subscribe now Foundation Models Are to AI what S3 was to the Public Cloud Many people look at 2006 as the birth of the public cloud - the year Amazon launched AWS.

Cloud 173

Cloud GCP(Google Cloud Platform) AWS Azure 173

SaaStr

AUGUST 31, 2022

14 years ago, in 2008, at the onset of the last global recession, Google pulled their full-time offers for all their summer interns, which included my co-founder at Cloudflare, Michelle Zatlyn. Recessions have always been hard, but they’re also formative moments to focus and ultimately improve.

Scale 260

Scale Cloud Revenue Scaling 260

Andreessen Horowitz

MARCH 30, 2021

Banks are heavily regulated, more so in the wake of the 2008 global financial … The post Investing in Capitolis appeared first on Andreessen Horowitz. Capitolis makes banks, and more importantly, their balance sheets, more efficient—yielding higher Return on Equity (ROE), which is the #1 KPI for most financial services companies.

Investment 140

Investment Banking Enterprise SaaS 140

Andreessen Horowitz

OCTOBER 1, 2020

Millennials and Gen Z have been hard-hit by the one-two punch of the 2008 and 2020 financial crises. That experience has radically shaped their approach to finances and their mindset around credit and debt.

Finance 137

Finance Education Mobile 137