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 17 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
Schneider: 'Seagull VCs' distract management without providing real assistance
“My terminology from experience is there are VCs that are seagulls, And here's my definition. They fly into a room, or fly into a meeting, fly into a location, they basically take a shit, and they fly away. They talk a lot, they give work to do for other people…”
Schneider: Enterprise software leaders should ignore low-end competitors and avoid moving down-market
“And what I realized is there's 10 competitors down market. Let them go beat the crap out of each other down there. They'll drive all the investor dollars into the toilet. And we'll just sit here and focus on what we do really, really well and own the market th…”
Schneider: Companies buy software to make money, save money, or avoid scandal
“People buy product for three reasons. They either buy it because it's gonna help them make money, they buy product because it's gonna save them money, or it's gonna keep them off the front page of a newspaper, which is usually what security products are being …”
David Schneider: Delayed 'perfect' decisions are wrong decisions because issues change
“I think people try to make a perfect decision. By the time you make a perfect decision, it's actually going to be the wrong decision, because the issue's already changed.”
Schneider: VCs must be founder-helpful, coaching founders with hard truths
“There is a difference, by the way, between founder friendly and founder helpful. And I think I have to walk the line between what I call founder friendly. I'm in your camp, but I'm gonna also tell you the truth. And I'm gonna get you ready for what's coming. A…”
Schneider: Small allocation sizes prevent VCs from taking board seats
“If my position's too small, it's hard for me to dedicate the time, and so I have to try to tell these founders, hey, you know, this is going to be awkward. I know you want us, you want me on the board, but I can't use one of my spots to”
Schneider: Founders should select board members with operational experience over board volume
“I do think it's up to the management team to drive the clarity of thinking, and avoid when you're interviewing potential board members, look for relevant experience. Not the fact that they've been on eight other SaaS boards, but have they ever done anything th…”
Schneider: Data storage buyers prioritize fast data recovery over backup
“It's not about the backup guys. It's about the recovery. It's about how fast can I recover this data so I can do my job and not get in trouble if something is corrupt.”
Schneider: CROs must forecast revenue 90 to 180 days out within 3%
“And so my job always was, be able to call the number, 90 to 180 days in advance, plus or minus three percent.”
Schneider: Most founders cannot articulate their core value proposition until prompted
“No. I think not until we start asking. Now the best founders, the ones that I really get excited to work with, are the ones that have clarity of thinking about that process.”
Schneider: Capturing legacy enterprise budgets is easier than creating new spend categories
“The secret for me was it was easier for me to unlock dollars from existing known spend areas than it was for me to create a new spend category. And create new budgets that didn't exist before.”
Schneider: Hire salespeople with a chip on their shoulder to prove something
“I look for people with a chip on their shoulder. I look for people that have something to prove, where the best days are in front of them.”
Schneider: Real diligence truths are uncovered on second or third follow-up questions
“I think it's that art of the question, and not being satisfied with just the first answer, but digging deeper, because the truth is usually the second or third question you ask will get you closer to the truth.”
Schneider: A company can reach a $1B valuation with a single product
“Billion dollar company, I think you could do with a single product.”
Schneider: VCs uncover hidden startup flaws within three to six months
“Usually three to six months, you undercover all the warts that you didn't see, that they hid from you on the, in the diligence process.”