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Today's B2B technology opportunity matches the 1990s e-commerce boom

Jeff Sloan · Jeff Sloan (Global Payments): Placing Multiple Bets on ‘Mosaic of Solutions’ · Apr 30, 2024 · at 25:06

Jeff Sloan, former CEO of Global Payments, compares current growth potential in the B2B technology sector to the e-commerce expansion of the late 1990s.

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“My perspective is that investing in B to B technology today has the same growth opportunities, if not more so than investing in e-commerce did, you know, kind of at the end of the last century is kind of my view.”

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Disclosure
Global Payments generated $3 billion in annual software sales by 2023
“By the time I left and retired last summer in 20, 23, we were actually a top quartile software company by revenue in terms of cloud SaaS if we have been listed just, you know, in the public markets in the U S for cloud SaaS software at global payments. So clea…”
Jeff Sloan Apr 30, 2024 ▶ 8:46 Jeff Sloan (Global Payments): Placing Multiple Bets on ‘Mosaic of Solutions’
Insight
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“I'm like in tech land, it's going to take 1824 months for you to figure out what was that the right, you know, kind of bet is this, you know, how does this go?”
Jeff Sloan Apr 30, 2024 ▶ 12:53 Jeff Sloan (Global Payments): Placing Multiple Bets on ‘Mosaic of Solutions’
Insight
Companies must place diversified distribution bets and quickly scale the winners
“It was all part of the thesis of, hey, it's a mosaic of solutions. I don't really know What is going to be predominant, not just today, but five years from today. So it's important to have a lot of different bets in a lot of different areas, and if those are s…”
Jeff Sloan Apr 30, 2024 ▶ 16:00 Jeff Sloan (Global Payments): Placing Multiple Bets on ‘Mosaic of Solutions’
What-if
Global Payments regrets cutting UK technology investments following the Brexit vote
“And I think our business would have been better positioned, you know, have we not cut those technology investments.”
Jeff Sloan Apr 30, 2024 ▶ 30:43 Jeff Sloan (Global Payments): Placing Multiple Bets on ‘Mosaic of Solutions’
Assertion Not checkable as stated
Global Payments' remote delivery and telehealth tools generate billions post-COVID
“Those two things, the remote delivery and the Teladoc are key parts of our business today and are generating, you know, billions of dollars of volume years, you know, years post COVID.”
Jeff Sloan Apr 30, 2024 ▶ 19:08 Jeff Sloan (Global Payments): Placing Multiple Bets on ‘Mosaic of Solutions’
Assertion Not publicly verifiable
Global Payments grew its annual technology spending to over $2 billion
“So when I got to global payments, maybe we spent a couple, three hundred million a year, OpEx and CapEx in tech. When I left last year in 20, 23, you know, that number was north of two billion.”
Jeff Sloan Apr 30, 2024 ▶ 22:53 Jeff Sloan (Global Payments): Placing Multiple Bets on ‘Mosaic of Solutions’
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