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 15 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
Glyman: Some Ramp job interviews cannot be passed without using LLMs
“There are some job functions at ramp where it is actually not possible to pass it like an interview or a coding interview without using an LLM. And that's intentional.”
Glyman: Many startups have not marked to market, stranding employee equity
“I still think a lot of companies haven't taken their medicine. They actually haven't just marked it to market. And I think that a lot of employees who've been working hard probably are still underwater.”
Glyman: Ramp raises $500M at $22.5B valuation
“We raised five hundred million dollars at a 22 and a half billion dollar valuation.”
Glyman: Ramp AI agent delivers 15x throughput at 99% accuracy
“These companies were able to get 15 times more work done. Transactions categorized. But the more interesting part is these agents were way more accurate. These agents all day, like they know the expense policy better than any manager at the company. And so it …”
Glyman: Raising at high valuations is fine; spending it quickly is the sin
“I don't think it was a sin necessarily to raise at high prices. I think probably the sin was just spending it all really quickly.”
Glyman: Ramp grew 4x in 2022, outpacing every public tech company
“We grew four times year over year. No other publicly traded company was doing that.”
Glyman: Ramp repriced its valuation down from $8.1B to $5.8B
“In December, 20, 21, we valued ramp at 8.1 billion. Today we actually think it's going to be a way bigger company and the value is 5.8 billion. And we said, great, let's do it.”
Ramp processes 1% to 2% of all US business card spend
“When I look at where we are, it's, it is incredible to be serving empowering. I, what we believe is one to two percent of all corporate and small business card spend in the U S which is maybe the market that we're largest in.”
Glyman: Ramp purchase volume pacing up 20% month-over-month
“Like right now July is pacing we're pacing to do 20% more purchase volume in July than June.”
Glyman: Ramp produced and aired a Super Bowl ad in 11 days
“I think most organizations could not have put out a Superbowl ad from, you know 11 days start to airing.”
Glyman: The average US business margin makes $1 saved worth $12 earned
“The average American business has an eight and a half percent profit margin. So a dollar saved is 12 earned.”
Glyman: One in six working Americans is employed by the government
“Between federal, state, local education. One of the most mind blowing stats that I learned is one in six Americans who work, work for the U S government.”
Glyman: At average profit margins, a dollar saved equals $12 in revenue
“For a business owner, you know, in the US, average profit margin is eight and a half percent. It means a dollar saved is not equivalent to a dollar earned. You know, a dollar of cost that you cut is equivalent to increasing your revenue by 12 dollars”
Glyman: Ramp's gap to trillion-dollar tech incumbents equals seed-stage multiples
“Mathematically a company like you know, an Apple or Microsoft or Nvidia, you know, talking to a ramp is almost like a ramp talking to a seed or Siri J startup. It's actually those multiples in between valuations are about the same.”