Procore

“Yeah I've hired people again because I was, they were luminaries in our industry, and I said to myself, look, they may not be humble but they're gonna move the needle and I regretted I've regretted every single one of those decisions that I've made, and fortun…”

“So we had actually had to stop developing that product at a certain point and go back and re architect it. So it was enterprise grade. And we literally stopped new future development for a year, but we realized that if we weren't going to, if we weren't going …”

“We have definitely learned which large tech companies to not hire from. Cuz, cuz, you know, honestly, you can just go right back to the culture that is existent in those tech companies. And you're like, that's, you're basically hiring in that culture.”

“Steve Zahn, my co-founder, he had a company who took public before Procore. I think from founding to IPO, it was like 13 months, right?”

“I realized that I couldn't go with a per seat model because that was going to actually make it so we were never going to be successful.”

“Well, I would give skill probably the lowest ranking, the lowest because I would give persistence the highest percentage.”

“Honestly, if we didn't have the wherewithal to survive the great financial crisis thanks primarily to one of our investors who kept pumping money into Procore we wouldn't have survived”

“You live in a world where everyone tells you that every idea that you have is genius, right? Eventually your crazy, craziest ideas get acted upon. And they're not genius, right? So like, I love having this governor on me, which is, you know, this council of pe…”

“You know, it really started within about a year where we would double, and then double again, and double again. And so it really did, I mean, around 2017, we were rolling.”

“It was so wildly unpopular with our customers. Even till this day, some of our customers don't love it. But it is a, it's the ultimate yardstick, and we really believe in it.”

“Up until 2017 we only had one product. It was our project management tool, and it's still our flagship product.”

“I think that's one of the reasons why we survived the hard times, is I just always believed that worst came to worst, I could go pick up a hammer, and I could go to work, and I could make, you know, an honest day's wages, and I would be fine.”

“Our message to them has always been, look, do the job as a senior director in the director role. And you will naturally get promoted into being a senior director. It's not something that's like granted to you. You don't get this because you asked for it. You g…”

“I call a customer. I honestly do. And there's nothing that gets me more excited and kind of, Grounded in the love of what I do than when I talk to a customer. So I literally do, I'll be like, I'm going to stop everything today and I'm going to call a customer.…”

“I would have run probably a much more, you know, I listened to your discussion with Scott from Atlassian and how they did the closed envelope fundraising. And I'm like, I was thinking to myself, I wish we had done that because it would have taken a lot of this…”

“So what I suggest you do is that you actually deploy your customer success and your field and product marketing folks There first build that Brown, get the groundswell going with the referenceable customers, then put your go-to-market team in afterwards to cap…”

“Between 2002 and 2015, we'd grown revenue from zero dollars to 9.6 million dollars, right?”

“If you were to invest in Procore in two, the internet was not at the job site. There was no such thing as mobile technology at all.”

“We were selling our software to mostly custom home builders prior to the great financial crisis. And of course, the very first part of the construction industry that fell apart was the custom home business market. So we basically, our customers all went out of…”

“I was working as a construction worker making 15 dollars an hour, you know, living in a tiny little apartment, and I, you know, I was not the one that was supposed to be the success in the family.”

“If you get one piece wrong, and then you go 400 steps past it, you have to reverse all the way back to that step, get it right, and then go forward again. And I always think of it, it's like business, which is like, every step matters. And so, you have to be v…”

“Myself and Steve's on my co-founder. We had to go without a paycheck, and I'll never forget, Harry, having to go home and tell my wife who by the way, at this point, we had sold everything that we had acquired in life. Like, I had, like, two mortgages on the h…”

“So Bessemer, I don't know if Brian told you this, but Bessemer had an investment thesis on Procore that they, of course, they don't tell the company about. They thought that Procore the best outside scenario they could come up with was that Procore was going t…”

“And I swear Procore would not be where we are today if I didn't think about that every moment of my life.”

“I don't, there's not enough time in the day to be able to do both amazingly well.”

“We had not changed anything. We had been building the same product For 13 years but the market finally, you know, adopted it.”

“I was miserable for probably two years where I would, like, I tried. I even went out and bought the Patagonia vest and, you know, Whatever. I just, like, I desperately want to figure this out.”

“We didn't really raise institutional money until like our 15th year.”

“You would be surprised to know that I think Hillary has probably attended less than 10 Procore events in 21 years. She desperately tries to keep a firewall between our family and Procore, and that's her contribution to it, is when I get home, we don't talk abo…”

“Customers would ask us to do custom development on a new application and, you know, if they're gonna pay us 30,000 dollars for a month's worth of work, we would literally Put two engineers on it and just ship a piece of software that had nothing to do with Pro…”

“We own 28% of Shopify and Twilio at IPO and we owned, you know, well less than that of Procore and Service Titan just because we, you know, included a lot of other investors downstream.”

“We are buyers. We're buying software stocks right now. You know, a portion of our funds can be invested in public equities, so we're buying companies like Procore, Workday, Appian.”

“There is a correlation, but it's modest between initial growth rate and overall outcomes and companies that have grown slowly at the start have been huge at the end. Procore was a slow grower and then became a huge outcome.”