The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
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every show 44 of 44
Barrett: Most VC Income Comes from Management Fees, Not Carry
“Like, the vast majority of a VCs, of a typical VCs income, will not come from their carry. It'll come from their management fees or some slice of that over the course of their career. They don't give a shit about the outcome or the success of your business by …”
Barrett: Venture capital as an asset class underperforms the S&P 500
“And I'd say like as an asset class, venture capital returns less than, you know, S and P 500.”
Expensify Caps Annual Hiring at 12 Employees
“This past year we put in a cap. We said this year, we're only going to hire 12 people.”
Barrett claims Expensify has more customers than Concur
“We have more customers than Concur, and we're the fastest growing in our space”
Barrett: Expensify does not employ commissioned salespeople
“We don't have any commissioned salespeople, and so that, like, that screws up everyone's models as well.”
Barrett: Expensify's support team is its primary revenue generator
“Actually, our primary revenue generator is our support team. The vast majority of our revenue comes after you've interacted once or twice with our support team, but almost never with, like, a salesperson going through a demo and things like that.”
Barrett: Expensify has 45,000 paying companies, beating top four competitors combined
“I would say like, so we think about 45,000 paying companies. So basically... So we've got more More companies is expensified than the next four expense reporting companies.”
Barrett: Expensify's growth slowed only due to enterprise distraction
“The only reason We slowed down at all. It was because we got distracted by the enterprise.”
Barrett: Uber, Atlassian, and most Silicon Valley unicorns use Expensify
“And that raises everything from like Uber, Yahoo Atlassian, a bunch of public companies like Evernotes, most of Silicon Valley, most of the unicorns or former unicorns all use Expensify.”
Barrett: Expensify maintains net negative revenue churn across all cohorts
“So then revenue churn is also complicated because we have negative revenue churn. Every customer, like every cohort pays us more today than they ever have.”
Barrett: 90% of Expensify revenue is paid by credit card
“90% of our revenue is on a credit card, which means that the only way we get paid is after you've already fully deployed your entire company.”
Barrett: Expensify launched the first mobile expense app
“We brought the very first mobile app to expense reports.”
Barrett: Expensify is growing just under 100% year-over-year
“So we're doing just under a hundred percent year on year still, which gets tough at the scale, but the nice thing is actually we've in this past year, we've actually made a bunch of product changes that have caused growth to sort of re-accelerate”
Barrett: Expensify has over 100% net revenue retention across all cohorts
“The important one is revenue retention and we're way over a hundred percent revenue retention. And so I'd say like every every year customers pay us more on aggregate than they did the year before. And so every cohort we've ever acquired pays us more today tha…”
Barrett: Expensify customer cohorts pay about 500% more after three years
“After three years, they pay us about 500% more.”
Barrett: Expensify's tech stack resembles consumer social more than Concur
“We've built in a tremendous technology stack. That's much more like Twitter or Facebook than it is like concur or something else.”
Technology will never compress senior executive search into a six-week process
“The length of time to complete searches has not shortened. Because it is a people business, it is, it's based on personal relationships, meeting people in person, building trust, establishing credibility, both with the search firm and the candidate, and then t…”
Committees wanting broad pools hire proven sitting CIOs 80% of the time
“80% of the time, the search committee will say, we want to, like, broad brush. We want to see everybody in all the different buckets. You get down to the finish line, oh, we got a sitting CIO who's going to, done this for five years, proven track record, and I…”
Barrett: About 10% of Expensify's 4.5M users are paying business users
“Yeah, it's about 10% of our 4.5 million is a paying business user.”
Barrett: 99% of Expensify Traffic Comes From Direct Brand Searches
“I would say like 99% of our traffic is people searching for us.”
Barrett: Expensify has 42,000 paying business customers
“We have 42,000 customers, whatever, but that ranges everything from like fortune 500 on down.”
Barrett: Expensify has roughly five million total users
“So we've got about five million users total and then some subset of those pay for 40,000.”
Barrett: Expensify ARR is under $100 million
“We don't really share that, but I would say we're still under a hundred.”
Stanford's outperforming peer endowments all had CIOs with ten-year tenures
“When we were doing the Stanford CEO search, Seven or eight institutions that they compared themselves to that were ahead of them on a ten-year basis, on their, in terms of their ten-year number, all those CIOs had been in place for 10 years.”
Harvard Management Company's 2.5-month CIO search was Barrett's shortest ever
“Harvard was the shortest search we ever did. It was two and a half months. I mean, and typically these take four or five, six months.”
One-third of employees submit an expense report every month
“About a third of the company will actually submit an expense report on a given month. But it'll be a different third every month.”
Barrett: Expensify has raised approximately $25 million in outside capital
“Oh, no, we've raised capital, and so I started off for a couple of years just out of savings, and then we raised I think a total of, I think maybe twenty-five million”
Barrett: Expensify has about 25,000 company customers
“Well, I would say we've got about 25,000 companies that use expensive.”