Veeva Systems

“Cash generating business is always going to be valuable to somebody. At some point, a business that's not cash generating is going to be valuable to nobody, right? You might be able to sell it before it becomes It, you know, not valuable, but you can only, the…”

“If you get a high market share in an area, and you don't expand to another area, what will happen? Just because the nature of your company and the creative people, You'll do more stuff in your established area than you should, right? And that creates its own s…”

“We audit for integrity of the leadership team, because when you're quite well established, that can throw you off. Integrity, integrity issues in the leadership team, so we audit myself and others, and also energy in the leadership team. Because these are thin…”

“We're doing about two billion, about 30% profit or so.”

“The first multi-million dollar annual deals were a big customer, Pfizer, and, ah, it was just hand-to-hand combat.”

“In the early days, there's no wasted people, like no optional people, no wasted people, because it just adds a, it'll burn through your money and it'll just make your decision making smaller and sorry, more complicated. It's like sand in the machine.”

“Cause I was always optimizing for the longterm value, which is the annual value per customer. So if I had to give the customer terms that would lock them in, I thought that's actually shrinking my market. Cause they'll pay less if they're locked in. That's one…”

“The second one is a bit bigger but the second one has also quite a bit more potential. You know, maybe it's a five X or 10 X potential.”

“It's fine for us to spend a 100,000 dollars a year maintaining free relationships and just putting into developing relationships. That's not wasteful. So because we have a lot of, we're showing up the door with a hundred million dollars worth of product. So if…”

“I thought, oh, we've just raised a three million dollar round of capital here and it didn't cost us any dilution, right? The check came in.”

“Your new product, if you have a chance, it should be way out here, and maybe have the potential to be bigger.”

“Angel investors, I think that was three million, and Emergence was four million. We never actually used the Emergence four million, but I thought we might at the time, and we got to him within about a 100,000 of using it, and then we went public.”

“I talked to three or four potential customers for our first product, and they all said, we don't need that. You know, that's not interesting. It's not a good thing to do, but I wasn't listening for that. I was listening. Are they emotionally attached to where …”