Insight
Tucker: Delay Raising Capital to Preserve Control and Focus
“So it's not like you can do them both at the same time and get the same results. Nobody has that kind of bandwidth. All right. So if you've got the opportunity, if you can not take the money, wait as long as you can.”
Insight
Tucker: There is no universal startup playbook; what works for one sinks another
“If there was a playbook that worked for everybody, then everybody would go out and make a gazillion dollars, and we'd all be happy. But, it's not like that. Companies are like people. They have a unique DNA. They have a unique culture. What might work beautifu…”
What-if
Tucker: BlackLine would be dead if she took early bad VC advice
“Had I taken that advice, I doubt, and money, I doubt that Blackline would be here today.”
Insight
Tucker: Startup hiring forces a trade-off between cost, talent, and eccentricity
“If you go with good, but they're not cheap, alright, guess what? You're gonna run out of money. If you go with cheap and not crazy, your product is gonna suffer, ok?”
Assertion Not checkable as stated
Tucker: BlackLine Received 14 Sealed Buyout Offers During PE Sale
“We had 14 offers sealed offers, and so it was a real process, and we did not, I did not have that level of conversations with all of them, but there were several.”
Insight
Tucker: Hiding Company Flaws Never Pays and Stems From Insecurity
“It never pays and most people hide it out of insecurity.”
Disclosure
Tucker: BlackLine Doubled R&D During the Pandemic as Rivals Retreated
“Because we have a very healthy balance sheet, We viewed it as a tremendous opportunity to invest heavily in R and D where many of our smaller competitors sort of pull back, right? Because they were very worried about where the future was going. We said, great,…”
Insight
Tucker: Cut Startup Sales Forecasts in Half and Double the Timeline
“When we used to do sales forecast I had a very wise board member who would say, cut it in half and take it out twice as long.”
Insight
Tucker: You Have Outgrown an Exec When Their Answer Is 'More'
“To a person, I knew that we had outgrown the executive when the answer was do more of the same.”
Insight
Tucker: The best businesses often arise in unsexy, overlooked sectors like accounting
“Because accounting is probably the least sexy field out there, and yet there's a point to that, because sometimes the best businesses are the areas that other people have overlooked because they're not terribly interesting, alright?”
Insight
Tucker: VC fund math creates misaligned incentives for most founders
“Venture capitalists are playing a numbers game. If they can take 10 companies of a similar profile, there's a pretty good chance that one of those is going to be really successful and make back the investment, which is great if you're the one, but if you're no…”
Prediction Not checkable as stated
Tucker: Thrifty startups with paying customers can always raise capital later
“And if you build a successful business that has paying customers, a clean ledger, a thrifty attitude, you will be able to raise as much money as you need when you need it.”
Insight
Tucker: Startups rarely deploy large capital injections efficiently
“Deploy large amounts of money efficiently into your startup, but it's not that common. Usually people end up wasting it, and it is much more painful to have to fire people and contract as a company than it is to grow.”
Assertion Not checkable as stated
Tucker: BlackLine's first marketing hire previously sold house awnings
“My first engineer was a guy who had not yet finished his coding class. Alright. My first marketing guy was a guy whose previous job was selling awnings. Yes, awnings for houses. Ok. He was fabulous. He's still with the company. So, oh, and the first engineer's…”
Insight
Tucker: Hiring undervalued tech talent builds competitive advantage and loyalty
“If you value someone in a market that doesn't value them, you have the ability to acquire a fantastic asset that maybe you couldn't have get, gotten otherwise because of competition. Alright, and if you pay them what they're actually worth, oh my god, they're …”
Insight
Tucker: Anyone talked out of starting a company wouldn't succeed anyway
“People always ask me for my advice to entrepreneurs, and I say, don't do it. Don't do it. And they're sort of puzzled by that, and my view is that if you take my advice, you never would have made it anyway, ok? But, if you shrug it off, and you go, yeah, what …”
Insight
Tucker: Successors Must Match Core Values to Preserve Company DNA
“Having the right skills and having the values that don't mess up the cultural DNA of the company is critically important when you think about when is it time to hand it over, hand over that mantle to someone else.”
Disclosure
Tucker: I Hit the Founder Burnout Wall 20 Times in 20 Years
“Oh, fourth time? I would say more like 20th time, right? I mean, you know, and in the early days, those, you hit the wall a lot more often.”
Disclosure
Tucker: BlackLine Decided to Go SaaS-Only Just Before 2008 Crisis
“And we just decided at the end of 2007 that we were going to be SaaS only going forward, ah, which actually turned out to be a great decision”
Assertion Supported
Tucker: Still the largest shareholder in BlackLine
“To this day, I'm still the largest shareholder.”
Opinion
Tucker: Gen Z Founders Are Defined by Fierceness Over Optimism
“Gen Zers tend to be super fierce. They're not more optimistic. They're just fierce about what they're going to accomplish. And that gives me great optimism.”
Assertion Supported
Tucker: BlackLine had one paying customer after three years of building
“Blackline started out by building wealth management software. I knew how to do that. I was great at it. After three years, we had one paying customer.”
Assertion Not checkable as stated
Tucker: BlackLine's core accounting software idea came from a bank accountant
“Optimizing accounting operations was not my big idea. How embarrassing is that? It was created by an accountant at a bank in Nebraska.”
Assertion Not checkable as stated
Tucker: BlackLine faced three- to five-year enterprise sales cycles
“We would have sometimes three to five year sales cycles.”
