The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 29 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Handy: Lean Startup and Y Combinator frameworks fundamentally misunderstand innovation
“I understand there's a lean startup approach and there's Y Combinator and all this. I actually am not a big supporter of these approaches because I think fundamentally what they're trying to say is you can take the process of innovation and you can put a metho…”
Handy: dbt Labs replaced its entire executive leadership team over 18 months
“The initial leadership team that I had grown the business with scaled for a long way, but over the past 18 months, I've replaced every single person that reports to me with like the folks that can scale to the Next level.”
Handy: Data software must become sales-led unlike engineering PLG tools
“When you sell to software engineering, sometimes you can go PLG for a lot deeper in the journey and, you know, Stripe and Twilio and others have done that very successfully. But data for a variety of reasons that are probably too boring to get into ends up nee…”
Handy: RJMetrics could have been Looker, but missed the cloud transition
“We were supposed to be what Looker became. The thing that RJ was never, and I don't think would have ever been able to anticipate was The cloud, the rise of the cloud for data specifically.”
Handy: Tightly scoping consulting work enables hiring junior talent over 15-year veterans
“I think this is a thing that many people who build consulting companies, the thing that they get wrong is that they accept whatever work comes their way. I said no to anything that wasn't in those lanes. And that meant that we, not only did we get better at do…”
Handy: Product-market fit must be constantly re-solved at each revenue milestone
“I think one of the things about product market fit is that people don't realize that you have to keep solving for it constantly. You have to solve for it at zero and at one and at 10 and at 50 and at a hundred and different parts of that journey for different …”
Handy: Enterprise data migration to the cloud truly began in 2020
“Enterprises really started moving to cloud for their data in twenty-twenty. There was like Hadoop stuff going on before that, but that like never really achieved any level of maturity or real penetration. And yes, Redshift and stuff like did exist prior to, an…”
Handy: Experience is undervalued in startup culture; work elsewhere first
“I think that experience is just like extremely undervalued in startup culture. And I think that's a huge mistake. And one of the pieces of advice that I most frequently find myself giving to founders are people that are thinking about starting companies is lik…”
Handy: Leading a struggling VC-backed startup causes extreme stress and lost control
“The challenging thing in that environment that nobody really likes to talk about is that it is, it's like an unbelievably high level of personal stress when you're a leader at an organization that is not winning. It brings stress into your home life. You funda…”
Handy: Organic word-of-mouth growth almost never happens in enterprise software
“In data that basically never, and like enterprise software broadly, organic growth almost never happens. There's too many points of friction, like the buying processes and salespeople and all of these different things inject friction.”
Handy: dbt Labs grew 10% month-over-month for six years straight
“We grew consistently at 10% month over month for about six years running.”
Handy: Early cloud data startups ignored the transformation stage of ETL
“No one had taken seriously the T part of it, the transformation part of it.”
Handy: Pre-2016 data tech treated analysts as non-technical users
“Data tech prior to 2016, always thought of data analysts as kind of low level, non-technical people. You can see that in Excel or Tableau or other products that like existed before that. Yeah, you can do powerful things with these products, but they're not fun…”
Handy: Data leaders hosted dbt meetups to expand their hiring pipeline
“One of the weirdest experiences was people in that community that were like, that ran data teams, they would host meetups for dbt to try to convince other people to use dbt because they needed more people to hire.”
Handy: Subsidizing OSS Engineers With Consulting Revenue Is Unsustainable
“Over time, we eventually hired two more software engineers as we continued to scale, but it was like incredibly clear that that was not going to work. Cause what we were doing was we were taking all the money from the consulting business and like shoveling it …”
Handy: In 2019, 3 dbt engineers supported 1,000 companies driving $100M+ compute
“Even when in 2019, we had a thousand companies using dbt, And continued, you know, three X year over year growth rate. I still didn't want to take venture, but it was so clear we were doing the product and the community a disservice by under investing in it. W…”
Handy: Exponential growth requires supporting the curve, not heroic founder actions
“If you are sitting on top of an exponential, then you don't need to be heroic. In the process, like what you need to do is continue doing the things that support that exponential curve. Do the next, build the next feature, make the next customer happy.”
Handy: dbt Labs lost one-third of its team after taking venture capital
“We churned about a third of our team over the next year.”
Handy: From 2017-2019, open source founders feared AWS commoditization
“In the 2017 through 19 period, it was like a massive concern for every open source founder that AWS was just going to take your thing and put you out of business.”
Handy: Organic Company Growth Entails Enduring Legacy Technical and Organizational Debt
“When you grow in this like much more organic way, while it does allow you to discover things that are really special, it means that you live with all of your legacy organizational debt and tech debt for a long time.”
Handy: dbt community grew irritated as engineering prioritized enterprise users
“I think that parts of our community got irritated at us because they could see that a lot of our innovation was going to service this new group of users that we'd never prioritized before.”
Handy: Redshift democratized $100K data appliances for $160 per month
“Before Amazon Redshift, in order to get access to that class of performance, you had to be a large enterprise because the only products that were sold with that type of performance were called data warehouse appliances, Netezza, Vertica, Teradata, et cetera. A…”
Handy: dbt Labs began as a consultancy, not a software company
“My fondest desire was not to go and build another technology company. It was actually to like real companies, real, real customers use the new cloud-based analytics tech that like had already been built. And so I didn't actually start a technology company. I s…”
Handy: dbt began as an internal productivity tool for consulting
“Really DBT started out an internal productivity tool to support the consulting business.”
Handy: dbt originally modeled its product design off Terraform
“And so we kind of modeled the original product off of Terraform.”
Handy: Command-line tools deliver high value with minimal engineering effort
“When you build command line tools, you can get a lot of value out of them. You don't have to build a user interface. You don't have to build login. So you can get a lot of value out of a small amount of effort.”
Handy: dbt Labs reached its first $10M ARR via product-led growth
“Our first, let's call it
Ten million in ARR was like very PLG oriented.”