Jay Simons

General Partner, BOND · 1 appearance on the record.

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investorexecutiveoperator@jaysimons ↗LinkedIn ↗bondcap.com ↗

Jay Simons served for 12 years at Atlassian, including nine years as President, scaling the company through its 2015 IPO. He is currently a General Partner at BOND, where he invests in growth-stage software and technology companies.

12statements → 6claims → 5claims resolved → 80%fully supported → 3.92/5average certainty → 2/5average debate potential → 5said about them ↓

4 supported 1 partly supported 0 contradicted 1 not checkable as stated how the 6 claims stand · each chip opens the sources

6 assertions · 1 opinion · 3 insights · 1 disclosure · 1 what if · every statement was checked. The predictions and assertions are the 6 claims: statements the public record can support or contradict. 5 are resolved, and 1 names no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Jay argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported

Jay Simons: Atlassian spends twice as much on R&D as on S&M

“We spend twice on R&D, you know, that, that we do in sales and marketing.”

Jay Simons Jul 7, 2017 ▶ 16:14 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Expressed certainty vs assessment result

none yet certainty 1

none yet certainty 2

none yet certainty 3

83% certainty 4

100% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

What they said12 What others said5 Episodes1

Everything Jay Simons said on the Official SaaStr Podcast that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight

Simons: Needing human onboarding assistance is a bug in product-led growth

“The difference is, is that in our model, we identify that as a, kind of a bug in the model, right? It's something that we need to fix in the future. We don't want every single customer, if we're targeting 500,000, to have to raise their hand and for us to enga…”

Jay Simons Jul 7, 2017 ▶ 14:51 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Assertion Supported

Jay Simons: Atlassian spends twice as much on R&D as on S&M

“We spend twice on R&D, you know, that, that we do in sales and marketing.”

Jay Simons Jul 7, 2017 ▶ 16:14 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Assertion Not checkable as stated

Simons: Atlassian has 2,000 channel partner salespeople in the field

“And if you think about it, like, our sales force, you know, we've got 2000 salespeople that are out in the field. They're not employed by us, but they effectively do the same job. They're salespeople.”

Jay Simons Jul 7, 2017 ▶ 19:29 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Opinion

Simons: The best-run companies are public companies

“We believe that the best run pub, you know, best run companies are public companies. And so I think, you know, operating as a public company applies some pressure, but also I think some discipline to how you run your business.”

Jay Simons Jul 7, 2017 ▶ 5:22 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Insight

Simons: Pulling customer revenue forward damages long-term software company value

“Oftentimes, like, you know, when you do that, you create worse long-term value for your company, better short-term value because you're pulling all that revenue forward.”

Jay Simons Jul 7, 2017 ▶ 11:59 Jay Simons, President @ Atlassian - The Inside Story Through IPO

What-if

Simons: Atlassian could have gone public two to four years earlier

“So I think we had the profile of a company that could've gone public two or three or four years earlier.”

Jay Simons Jul 7, 2017 ▶ 2:29 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Insight

Simons: End-user NPS is the key leading indicator of SaaS growth

“So like end user NPS is probably like the important, ah, leading indicator of future growth. Like if your end users aren't happy, you know, even if I'm a Workday user, and if I'm not happy, long term that's not a great thing for Workday, even if the HR person …”

Jay Simons Jul 7, 2017 ▶ 24:01 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Assertion Supported

Simons: Atlassian had 10 consecutive years of profitability before IPO

“Certainly, you know, we had 10 straight years of profitability. And 10 straight years of, you know, decent growth.”

Jay Simons Jul 7, 2017 ▶ 2:21 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Disclosure

Simons: Atlassian practiced quarterly earnings calls for two years before IPO

“For two years prior to going public, we practiced doing quarterly earnings calls, and we practiced.”

Jay Simons Jul 7, 2017 ▶ 2:42 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Assertion Partly supported

Simons: Atlassian never raised institutional balance sheet capital pre-IPO

“Atlassian had been bootstrapped from the very beginning, had never raised institutional capital on its balance sheet. So we did two secondary rows, second, two secondary rounds. You know, one with Excel in, ah, 2010, and one with T. Rowe Price. In 2013.”

Jay Simons Jul 7, 2017 ▶ 6:51 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Assertion Supported

Simons: Accel's $60M Atlassian secondary was its largest VC round at the time

“And the sixty million dollar round in 2010, even though it was secondary and didn't, ah, you know, didn't you know, hit the company's balance sheet. It was the single largest, ah, you know, venture capital round that Excel had done.”

Jay Simons Jul 7, 2017 ▶ 8:42 Jay Simons, President @ Atlassian - The Inside Story Through IPO

Assertion Supported

Simons: Atlassian flew all ten-year employees to New York for IPO

“In fact, we took all of the ten-year Employees to New York to celebrate the IPO, and there was a big gaggle of them, and so there's a bunch of people that have worked really hard along that journey.”

Jay Simons Jul 7, 2017 ▶ 4:17 Jay Simons, President @ Atlassian - The Inside Story Through IPO

The other half of the tape: Jay Simons's own voice is left out of every number here. Other people bring the name up 5 times in 3 episodes on the Official SaaStr Podcast. every mention, with the transcript →

Who brings them up most Jason Lemkin 3 Nick Mehta 2