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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20VC Prediction Not checkable as stated
Dax Dasilva: Lightspeed must refocus after overexpanding products and regions
“And I think right now, now that I've been back at Lightspeed for five months as CEO, you know, I was executive chair for two years. I think there are areas where it's going to be helpful for us to focus again, where we've decided to like spread our wings, mayb…”
Dax Dasilva Aug 9, 2024 ▶ 14:49 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
20VC Assertion Supported
Lightspeed converted a third of its customer base to Lightspeed Payments
“Last year, we spent the almost the entire fiscal year rolling out lightspeed payments and making, and converting a third of our base.”
Dax Dasilva Aug 9, 2024 ▶ 23:20 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Dax Dasilva: Quadrupling initial pricing transformed Lightspeed's revenue and product development
“Showed that business plan to a colleague of my father, and he was like, times four. Multiply that, that, that price times four. And I was like, that's crazy. Like, I can't ask for times four. That changed everything. We had four times the revenue. We had four …”
Dax Dasilva Aug 9, 2024 ▶ 42:12 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
PRODUCT MARKET FIT Assertion Supported
Lightspeed reached $10M bootstrapped revenue via 400 global software resellers
“After seven years of bootstrapping, cause that was our journey, a seven year of bootstrapping, we got to ten million of annual revenue, which was all software. All of that was driven by 400 resellers around the world, making 25% on times four pricing.”
Dax Dasilva May 26, 2025 ▶ 20:49 He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Ligh... · PMF Show
PRODUCT MARKET FIT Assertion Not checkable as stated
Resellers turned $5,000 Lightspeed software deals into $25,000 total hardware installations
“They're making 25% after off the 5000, but they're also selling You know, at the time it was all on-premise. They're selling servers. They're selling computers. They're selling networking. They're selling training. You know, we were selling five, 5000 dollars …”
Dax Dasilva May 26, 2025 ▶ 22:22 He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Ligh... · PMF Show
20VC Assertion Partly supported
Dasilva: Early POS rivals raised hundreds of millions on simple initial products
“They started to come out and even though they were very simple, they had hundreds of millions of dollars being funneled into them.”
Dax Dasilva Aug 9, 2024 ▶ 10:44 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
20VC Assertion Supported
Dasilva: Lightspeed has achieved three quarters of positive EBITDA
“And, you know, we've got three quarters of EBITDA positivity under our belt.”
Dax Dasilva Aug 9, 2024 ▶ 22:54 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
20VC Assertion Supported
Dax Dasilva conducted his first layoffs in nearly 19 years at Lightspeed
“I'd never done layoffs personally at the company, and that's almost been 19 years, you know.”
Dax Dasilva Aug 9, 2024 ▶ 27:28 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
20VC Assertion Supported
Lightspeed grew from $70M ARR at IPO to $1B in revenue
“When we went public in 2019, you know, we were, A much simpler company is seventy million in revenue. Now we're a billion in revenue”
Dax Dasilva Aug 9, 2024 ▶ 29:44 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
PRODUCT MARKET FIT Assertion Not checkable as stated
Early Mac dealership customers became Lightspeed's global reseller network
“And then when they were good at, when they were really good at the software, after one or two years, they became our international distribution network. They became our resellers and they started to sell Lightspeed in their neighborhoods. And that's where the …”
Dax Dasilva May 26, 2025 ▶ 7:24 He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Ligh... · PMF Show
PRODUCT MARKET FIT Assertion Supported
The original Lightspeed interface was modeled after Apple's iTunes playlists
“What the original version of Lightspeed was almost set up like iTunes now called Apple Music. Now it makes no sense anymore. But back in the day, like iTunes had like playlists on the side and like content on the other side. And we built, you know, the origina…”
Dax Dasilva May 26, 2025 ▶ 12:25 He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Ligh... · PMF Show
PRODUCT MARKET FIT Assertion Supported
Lightspeed did not transition to the cloud until raising from Accel VC
“It wasn't until like we brought in a VC that we actually transitioned to the cloud. And that was actually, that was a huge part of the transformation that we did with Excel that was huge, hugely successful and allowed us to do everything we're doing now.”
Dax Dasilva May 26, 2025 ▶ 42:29 He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Ligh... · PMF Show
PRODUCT MARKET FIT Assertion Supported
Lightspeed collaborated with Apple in its early days on mobile POS devices
“In the early days, we actually worked with Apple to bring all the handheld units that they had to do mobile POS. We had actually had that for non Apple retailers, right?”
Dax Dasilva May 26, 2025 ▶ 44:47 He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Ligh... · PMF Show
PRODUCT MARKET FIT Assertion Not checkable as stated
Year one: 43 global resellers traveled to Montreal for Lightspeed training
“When 43 resellers came to Montreal from Saudi Arabia and Australia and Ireland and all over the US and all over Canada to get trained on a one-year-old system so they could resell it around all over the world.”
Dax Dasilva May 26, 2025 ▶ 47:09 He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Ligh... · PMF Show
20VC Assertion Not publicly verifiable
Dasilva: Lightspeed spent zero on advertising during its first seven years
“In those first seven years, it's zero. We spent zero money on, on advertising, right?”
Dax Dasilva Aug 9, 2024 ▶ 15:26 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Dasilva Coded Until 4 AM Daily During Lightspeed's First Two Years
“The first two years I coded literally till four in the morning every day.”
Dax Dasilva Aug 9, 2024 ▶ 0:00 Dax Dasilva: $900M ARR at $2.6BN Market Cap?! Lightspeed, The Most Undervalued Public Company |E1188 · 20VC with Harry Stebbings
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