Box

“The CTO of Workday is just a member of technical staff at Anthropic, CTO, CTO of Instagram, Box, the CTO. Super.com CTO. They're just like engineers now at Anthropic.”

“Some of the use case, some of the top use cases we see from customers with our AI agent and their data, Are actually things that they never deployed people at before. So it's, I want to go and have an agent read every contract in our company, because I want to…”

“It has led to a boost at Box. It hasn't turned Box into a hundred percent grower. It's gotten it back to double digit growths.”

“When we launched our first kind of AI use case within box, our product, The average number of tokens that was being used on a task was like 5010 1020 thousand tokens. Now our latest agents might use a million tokens or five million tokens on executing a task.”

“I think it was Aaron Levy from Box actually said that just in terms of legal You know, he, they've been seeing just incredible outputs from Fable Five.”

“When we go and talk to organizations right now about where they are with agents tokens, the cost of tokens and budgeting and budget planning and all of this probably is at least one third of the hottest button issues that relate to AI.”

“AI built probably 80 to 90% of the feature. And the thing that slowed down the release of it was we have to do a full security review because we can't let there be any, you know, accidental code injection into the thing that we created.”

“I don't think that it's a five to 10 X gain. I do think it's a two to three X gain, maybe across the board. You are still rate limited by how quickly can you review this stuff and check on the work.”

“We will.”

“The volume of API usage on our system is already enormous and already, you know, is outsized relative to any of the end user interactions in the system.”

“If he can't get Box to 20 to 30% growth I'm giving up on, on the rest of the world.”

“We have an eval that we give all of the new models. It's basically a complex knowledge work task, which is we give the, an agent a set of documents to work with, and then we ask it a series of very, very hard questions that we think correlate to pretty high en…”

“We spend as much time now thinking about the agent interface to our tool as we do the human interface.”

“We have an agent that, that we're working on where you, it just makes a determination whether it should use an existing skill, it should be using an existing tool from Box, or it should write code to solve that problem”

“Every agent really loves working with files, so there'll probably be more files in the future than there was going to be before, and so, you know, can we build a platform that, like, makes it really easy for agents to work with that data? You know, we, we're b…”

“I do think that will be relatively disruptive You know, for some time until the bigger incumbents can kind of, you know, get out of the way on this. And that will at least create, you know, some precedent or case studies of what this new sort of corporation co…”

“All of that information becomes valuable to the enterprise and it's going to become extremely valuable to end users because now they can have agents go find what they're looking for and produce new New value and new data on that information. And it's going to …”

“You know, whether you think the number is 10 X or a hundred X or whatever the number is, we're going to have some order of magnitude more agents than people. That's inevitable. It has to happen.”

“67%. Just so we're being very SEC precise.”

“Today, we have a context engineering problem, which is I got, you know, 200,000 tokens that I can work with, or probably, I don't even know what the latest graph is before, like, massive degradation. Okay, I have 60,000 tokens that I get to work with, where I'…”

“And that judgment is like a really new thing that the model needs to be able to have is like, when should it give up on a task? Cause, cause you just don't, it's a, can't find the thing. That's the real world of knowledge work problems. And this is the stuff t…”

“And then they all are having to understand that now you've got this new customer, which is the agent. And they've been building for two types of customers in the past. They've been building for users and they've been building for like applications. And now you…”

“There's a part of the company that is sort of do or die for the agent wave. And it only happens to be more of my focus simply because it's existential that we get it right.”

“Building a beautiful PowerPoint presentation. It's still a hard problem for these models. Like we still, you know, like these formats are just, we're not built for.”

“The thing that I think is, is probably going to be a much bigger The idea over time is any agent on any system, again, using Box as a file system for its work.”

“One is I think you're going to see, again, a premium on companies that can document this much. There'll be a huge premium on that because, you know, can you shorten that three month ramp cycle to a two week ramp cycle? That's an instant productivity gain.”

“The biggest reason he's successful is he has an enormous amount of staying power in the game.”

“We have products that we build five, you know, these are the estimates from the actual engineer that we will build five times faster because of AI coding. And we will as a result of that, be able to ship significantly more capabilities to our customers.”

“In COVID in 2020, we formed a group of SaaS CEOs. I think there were 16 of us that got together, we'd meet on Zoom every single week, right? At one stage, 10, 11 of us were public, maybe more, we all had earnings calls, and you know, it was a really good thera…”

“These companies, they're in a much more bounded world now. They might grow 15%. They might grow five percent. They might trade at six times revenues. They might trade at four times revenues. You know, if you look at the stock chart, the area of magic is gone, …”

“About 30% of our code right now Is, is coming from AI.”

“We've talked to customers where where they have had, had colleagues that, that can't actually they can't present the actual ROI savings to their board. The actual kind of expected ROI savings to the board because the board won't believe how, how they won't bel…”

“So conversely with AI you're no longer really having to convince people that AI is the future. Everybody tends to be bought in, in the enterprise segment. There's a lot of still slowness in adoption in large enterprises. But it's not because people aren't conv…”

“When we, you know, launch an ad campaign internally, we translate it into like three to five languages. Our top markets, that's about all we have time for because it's just too expensive.”

“So eventually we're going to get to a point where customers are no longer going to just be paying for the intelligence tokens. They're going to be paying for the workflow software that goes on top of the tokens themselves.”

“Same thing on Box. I passed at the start of 2010. The round didn't even get done, and nine months later, I literally woke up and said, what's the dumbest thing I did all year? I didn't do that deal, and I went down and did it.”

“I'm glad to see that just literally this week, we were seeing Mongo even Okta, which had been struggling, Box last, the other day, Zoom, which is, you know, which is not exactly a rocket ship anywhere, but seeing growth re-accelerate because of AI, it's like, …”

“When Rory invested in box with Aaron, when Rory's invested in HubSpot, those are pretty good ones. Shopify. These guys all IPO'd around a hundred million in revenue growing really fast off in 50, 60, 80% at like eight hundred million valuations.”

“Yes, I remember that was in O-Nine. We did HubSpot, Box, DocuSign, and I think RingCentral.”

“And we let's just say we very much took that to heart. And we basically like deployed every single lesson. Which was, like, the name of the game is you get big fast, you scale aggressively, and that was a very important kind of period in our company's journey.”

“And that, that's something where I do think We have to be prepared for this as many years. It's about the speed at which humans can change their workflows as opposed to how kind of quickly the technology can just, you know, sort of evolve in advance.”

“Internally, we've actually explicitly taken the stance that we want to use AI to increase the capacity and capability of the company, so just do more.”

“The closer we get to conveying those ultimate outcomes, the closer we get to pricing towards those outcomes. I think that will be the natural direction this space goes in.”

“I would actually argue that MCP is a thing that only enhances the underlying moat. Because data wants to be free. That doesn't mean that there's no moat around managing the data and making it useful. It wants to be incorporated in some other workflow. So for u…”

“Companies using AI are not going to say we are happy doing what we did before, and this will just enable us to do it more efficiently. Therefore, we will cut our spending and we'll cut people. I think the smart companies, companies like Box, run by a person th…”

“Aaron Levy, I mean, it's like, I would say probably like the single most quality voice, but also prolific voice on agentic AI as well.”

“You know, I would argue, you know, strongly that's a massive TAM increase because now software starts to go after labor spend.”

“I don't like the word replace because I think actually most of the upside is actually going to be for companies that now deploy labor at things that they wouldn't have deployed labor at before.”

“We send it 500 documents, and we ask for 40 data fields back from the documents, and so it has to get every single data field correct, and we only do a single pass, so we send the document to the model, we get a single pass back. Right now, the best score is a…”

“The reason the stock price is always hard is we're competing against Microsoft and Google who give it away for free.”

“Like, we think the TAM of our category goes up because of AI and the business model doesn't get like severely disrupted in the sense of we used to be selling seats and now all of a sudden something totally different, it's seats and then something in addition t…”

“We rated it 80,000 dollars for a post money of I believe this is the post money. It was either two 40 or three 20, but the post money was either 240 K Or 320 K. We raised 80, 80,000.”

“I had emailed Mark Cuban. He got back to us in, like, 10 minutes and said, interesting company. We started working on, like, a partnership, weirdly in in one of his in one of his companies, and then that sort of parlayed into an investment, so we ended up rais…”

“As a part of the due diligence for the company he had us meet Travis Kalanick. So he invested in Travis at this company called Red Swoosh. And so so I had met Travis in LA and Travis was basically like Mark asked me to meet you know, see if everything's above …”

“We actually had to build out infrastructure for the first decade and a half because merely we started the company six months too early. So we started the company and our first launch was on these co-located servers. And Amazon web services didn't launch until …”

“We officially support Gemini family. We support anthropic, you know, variety of cloud models and then support open AI and the GPTs.”

“Yes for a couple of particular customers that we just haven't announced yet, but, you know, coming soon.”

“We considered it for 10 minutes, and we said no effing way are we gonna get in this war?”

“If anybody has a breakthrough in the model space that we have built scaffolding or plumbing around to mitigate the lack of that breakthrough previously, we should just like kill our stuff and just adopt whatever that breakthrough is.”

“Cause now our AI team is probably the biggest team. Yeah. Easily the biggest team in the whole company in terms of kind of any one group.”