Everything Patrick Bosworth said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Bosworth: Hospitality SaaS cannot easily accelerate growth via additional sales spend
“There's almost this force of nature where it's actually really hard to grow the business faster than it's naturally growing because there are these time periods where a hotel company is looking for new technology either because they've bought one of our incumb…”
Bosworth: VC valuations shifted from prioritizing burn to balancing growth and burn
“And so, Q-three of 20 15 was just the tail end of a period when valuations of growth tech companies were inversely correlated with cash burn. The more you burned, the higher you were valued, because there was almost an exclusive focus on growth. Now it's about…”
Bosworth: Duetto Would Not Exist Without Harvard MBA
“I don't think the company would exist without it.”
Bosworth: Duetto has never lost a customer in five years
“We, we've literally never lost a company, a customer in five years.”
Bosworth: Duetto will reach a $50 million run rate next year
“I don't usually share the exact numbers, but we're a fraction of the number that you just claimed, you know, the back of the envelope that you did, but we will be there next year.”
Bosworth: Duetto Boosts Hotel Revenue 6.5–8.5% and Profit 75–100%
“And in general, that increases their revenue by anywhere from six and a half to eight and a half percent, which increases their profit by 75 to a hundred percent.”
Duetto burned over $1M per month for a couple of years
“Yeah, we did it for a couple years.”
Bosworth: Variable Hotel SaaS Contracts Delay Negotiations by Months
“And so anytime we tried to do a more variable contract, a pricing negotiation that might take one to two weeks would drag on for one to two or three months.”
Bosworth: Variable Upside Accounts for At Most 7–8% of Duetto Revenue
“It may have been seven or eight percent, but no more than that.”
Bosworth: Hotel brands often neither own properties nor employ staff
“What a lot of people don't realize about the hotel industry today, though,
Is that a lot of times the brand is no longer the operator.
They've gone so asset light that they no longer, not only do they not own the underlying real estate, they also don't actuall…”
Bosworth: Duetto makes $17k-$18k per hotel property annually
“So on a per property basis, I think today we're getting about 17 or 18,000 dollars per hotel per year.”
Duetto's Valuation Jumped to $10M When Former Salesforce CTO Joined
“Marco and I were in Vegas at the time, and we were trying to raise money there. We were getting valuations more in the, you know, one to two million range. And the day that Craig joined, the valuations jumped up to the ten million dollar range.”
Bosworth: Craig Weissman is Duetto's largest common shareholder
“He is the largest common shareholder. He has a plurality, but not a majority.”
Duetto has an estimated 14-month CAC payback period
“Our payback period is about 14 months right now.”
Bosworth: Duetto gross margins rose to mid-70s from 30s in one year
“Now ours is hovering in the mid seventies. It's healthy, but a year ago was in the thirties.”
Bosworth: Duetto platform gross margin exceeds 95% excluding services
“So our platform gross margin is north of 95%. Our blended gross margin, including, you know, the onboarding services is where it dips down into the seventies.”
Bosworth: Duetto cash burn fell over 50% in 18 months
“Over the last 18 months has been more than cut in half, and we expect it to get cut in half again.”
Top Founders 2