The Ledger
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Competitors Vena, Cube, and DataRails face acute churn problems
“So on Vena and Cube and Data Rails. And so their churn problems are like fairly acute and we get people switching from them all the time.”
Chen: Competing directly with QuickBooks would have been easier than integrating
“And in retrospect, it would have been probably a good idea to compete with QuickBooks early because that would have been actually easier to build and the market would have been larger.”
Chen: Runway signed $1M in ARR within three days of launch
“It was within the next three days or so.”
Chen: Runway generated 7M launch-day impressions and used GPT to qualify leads
“I think we had about seven million impressions on launch day, and on our website, I think, two years ago, it was about five million, and leads were coming in so fast that I had to build a GPT automation that would qualify leads automatically, because we'd lite…”
Viral launches require concentrating all amplification into a tight time window
“You want everyone to, you want all of the amplification be concentrated and as close of a time as possible. And you want a wide network of people ready to go to amplify that message, right?”
Chen: FP&A is a strategic business simulation, not bean counting
“FP&A in general is in some ways a simulation of a business, and I think that's sort of not well understood, because most people think about finance as sort of bean counting, and that's like the accounting bit of finance, but the FP&A bit is strategic. It's abo…”
Srugo: Pre-PMF startups should forecast runway instead of Series A targets
“Forecasting to a milestone like a Series A is going to lead you to put things into your model that are completely made up. Instead, what I think makes much more sense from a forecast perspective, if you're pre-product market fit, is to just forecast out runway…”