The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 19 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Rippling Wins by Copying Vertical SaaS Features Into a Suite
“Rippling's building like the next work day and they've taken like, oh, this company does HR analytics. We'll like copy 90% of their good features and we'll make an integrated version that works with your employee directory. Oh, you want to do like global billi…”
Stebbings: Silver Lake Prepares $43B Take-Private Bid for Workday
“Silver Lake circles a forty three billion dollar take private bid for Workday.”
Lemkin: Being a software system of record prevents churn but doesn't drive growth
“I don't think system of record is, I think it's a moat, but I don't think it's a ticket to growth. This is, I think, super important. And it's something that everyone on X gets wrong. It's great to have a system of record, which Workday has. It means churn eve…”
O'Driscoll: Price hardly matters in winning VC deals unlike PE buyouts
“In venture deals, if you're in the right thing, it almost doesn't matter what you paid. You see cursor for details, see open router for details, right? This is the exact opposite. This is fine, precise financial engineering. If you're wrong by 20%, 30% on pric…”
Mitchell Green: Lead Edge Capital is buying public software stocks like Procore, Workday, Appian
“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.”
Bookman: Vertical SaaS startups must build multi-product suites to support viable ASPs
“In a lot of these verticals, you've got to get to like workday level product or, you know, rippling compound multi-product company to get the ASPs working.”
Lemkin: Demand environment is worsening for Salesforce, MongoDB, and Workday
“Yamini got on the last call a couple of weeks ago and said, yeah, we saw a little bounce at the end of the year and HubSpot had a great quarter, but it's not any easier. She said, it's not one lick easier right now. So HubSpot, not any easier Mongo worse. Sale…”
Kerrest: Successful Enterprise Software Founders Are Industry Veterans, Not 20-Somethings
“I think if you look at successful enterprise software founders, whether it was Mark Benioff and Parker Harris, Salesforce, or whether it was Anil Bushri, And Dave Duffield at Workday or whether it was Fred Luddy at ServiceNow, these are all folks who did not s…”
Rampell: Workday and NetSuite are impervious to AI disruption
“There are the ones that are almost impervious to everything that's happening with AI. And if anything, it's a huge tailwind because they're going to start being, they have the distribution, they're going to start adding features. And that's things like Workday…”
Stebbings: Workday acquired Sana Labs for $1.1B at $50M ARR
“Workday acquiring Sana Labs for 1.1 billion dollars. They were at like, 50 in ARR.”
Grady: Early SaaS was a business model shift, not a UX revolution
“If you look at the last decade or so of software, the transition has been from on-premise to SaaS or on-premise to cloud, and that's been a wonderfully impactful transition, but at a very fundamental level, it's been a transition in the business model, not a t…”
Lemkin: Workday's standard enterprise contract terms effectively total eight years
“Workday does three year contracts up front and five year renewal. So the average Workday customer effectively signs up for an eight year contract. Three and five is their standard term.”
Plank: Upmarket is Rippling's fastest-growing segment, competing with Workday
“The fastest growing segment, for sure, is like our upmarket segment, like our, you know, we're moving that market, like very quickly and, you know, used to not compete with the workdays of the world. And now that's weren't a lot of deals with them.”
Cahn: Rational AI strategy is unclear for non-cloud giants like Salesforce
“I mean, I do think the like tier below those three big companies are scared right now. I think there's probably like those boardroom conversations are probably tense, right? I think on the one hand, huge opportunity, right? Make the product better. You already…”
George: Salesforce, Workday, and ServiceNow command market cap in B2B
“In B to B, you know, Salesforce, Workday, ServiceNow, they command almost all the market cap in their respective markets.”
Adaptive Insights took a $1.6B Workday acquisition three days pre-IPO
“Including Adaptive Insights, by the way, last year, who was three days away from going public, and then instead chose to take the Workday offered a 1,000,000,006 instead.”
Viswanathan: Workday's 2009 pitch was his most straightforward in 20 years
“When we heard the pitch, it was probably one of the most straightforward pitches I've ever heard in 20 years of venture, meaning we just had to fund that company, and the reason for that is there's the numbers, but you really have to see what is this company d…”
NewView Capital's $1.35B debut fund yielded three major exits within two years
“Launched in 2018 with their 1.35 billion dollar debut fund, They've already set themselves as leaders in the world of growth funding, with three massive exits in less than two years, in the form of, check this out, Plaid sold to Visa for 5.3 billion dollars, A…”
Viswanathan: Tom Bogan is the best board member he has worked with
“I would say Tom Bogan. Tom is a senior exec at Workday now. He was CEO of Adapted Insights. I was on a board with him. I was on the Acquia board with him, and I would say just the best board member I've ever worked with just had incredible credibility. He was …”