The Exchanges

Q beautiful Excel chart. Your most active customers would be at the top, starting with you, right? And probably people on your team who do your testing, but then the next like 10, 20, 50 users can really reveal a ton in terms of like, you know, what you should price. Why did you not approach pricing that way versus just doing it based off time in the weight waiting lineup?

A Oh, so the surveys were based off of that. So all of the most kind of A fair distribution of customers, those that did a ton, those that did a few, but we had a high share of calendar, because if you do six meetings and I do three for you, then I kind of own half your calendar. If I do three for you, I don't own anything, right? So it was a fair distribution, and we interviewed about 5000 of those to get a good idea of where we should kind of put ourselves in market, both on Product tiers, individual features, what goes into what tier and how to price it. But it took another two iterations to kind of get it right.

AI assessment note: “Oh, so the surveys were based off of that.”

Q like 7000 times now. I'm not going to keep talking to your robot. How do I get out of this? And it is so frustrating and actually makes me feel ill will sometimes towards that CEO. Like, how do you solve these? By the way, I'm only focusing on the negative. There's a lot of positives too, but like, how do you solve and round out these negatives, these edges?

A So I think there's suddenly very little debate on whether that of setting up a meeting is a real pain or not. So you and me through your example have just agreed that we kind of not really like to set up meetings. We like this though. You and me chatting, that's the fun part. Having it set up, we don't really care whether it's Monday at one, Monday at nine, Tuesday at 10, they're all equally good. So if we can somehow escape that chore it is of setting up a meeting, that would just be wonderful. And I think what we're seeing right now is some group of prior solutions for where you are now Somewhat outsourcing part of the pain to the guest, as in, hey, Please go click my link, and if you'll be so kind and just apply a little bit of effort and be okay with that, we can get the whole thing kind of solved with certainly some total less pain. What we've tried to do is to kind of come up with some sort of solution for where we could potentially cater a little bit more to the guests for where you can just reply back in natural language and say, I can't do next week, but I can do some afternoon the week thereafter. Or you know what? Let's do this in person. I'll be in Manhattan in first week of July. Now, that is obviously awesome, because that means we're kind of flipping it ever so slightly, so the guests should be happier. What you describe is, what if we have competing agents As in…

AI assessment note: “What we've tried to do is to kind of come up with some sort of solution”

Q What, what is the inflection and not the actual hard number, but what is the, what is the metric you're measuring that you believe is the inflection point? Is it number of meetings booked, number of users, an ARR target?

A Yes, some combination of SC. Those, certainly, some Slight elasticity attached to the ARR number, but some number for where we can certainly suggest that we figured out how this works, and there'll be a high belief of us being able to take X number and turn it into 10 X of that number. And then there's certainly a set of internal metrics, ones that we talked about as well, which is, have we figured out retention, have we figured out kind of net expansion, and so on and so forth. And I want to have all of those kind of in tune before we kind of go out and do that next milestone, because that'll be Highly dilutive as a common shareholder.

AI assessment note: “some Slight elasticity attached to the ARR number... have we figured out retention”

Q So how'd you decide who to start showing a paywall to, to test that strategy? I assume it was usage based. What, what was the usage threshold?

A Uh, so we, but here's the funny thing. So we surveyed about 5000 people to kind of find that initial price. We got it wrong. Uh, and I could have told myself that, but then again, if you ask people, would you like to pay? Yeah. Would you like to pay 39 dollars? Seems about right. Then when you put up your first kind of version at 39 dollars, people say, no, I'm not willing to do that. So we had kind of three iterations on price and kind of Ended up on the right kind of eight dollars for that individual edition in October of last year. So, so that took us a little while. That first batch, we actually just tried to be nice and kind on those who signed up for the waitlist first, started just in reverse order, and just did them in batches.

AI assessment note: “That first batch, we actually just tried to be nice and kind on those who signed up for the waitlist first”

Q Yeah, 40. And then, so I guess with that money, how aggressive are you willing to be on fully weighted CAC? Will you spend a full year one kind of ACV to get the customer or more or less? What do you like to come in at?

A So I tend to be quite comfortable once you have full understanding of it. I don't think I have yet An understanding that is so robust for where you could give me a dollar, and I can tell you that in the other end comes three dollar 20, because if I could do that, you know, you give me a hundred million dollars, and then I can somehow turn that into more on the other side. I do think I'm getting close to have a robust understanding, but I tend to be generally Very willing. Once all your metrics work out as you and I have talked about to inject as much as you can on one side, but I do still think I have some unknowns.

AI assessment note: “I don't think I have yet An understanding that is so robust”

Q the number that would measure the, what you're talking to me, which is fine, is all about the upside. This many emails saved, et cetera. You can calculate, and I'm sure you have the data, how many times an x.ai email has been introduced, copied in to a conversation, and no meeting resulted. And my question is, what's that number relative to how many successful meetings have been set up?

A So A good example here to give you some metrics. The year before I started x.ai, I did a 1019 meetings, probably a little less than you, who might be completely batshit crazy in your calendar, because I saw a screenshot of it earlier today. So in that regard, I might just be normal. But of a 1019 meetings, what I set up manually at 11 p.m. in my underwear, and I hated it, 672 got rescheduled. That is just the natural rate of meetings that I have planned that for some reason got rescheduled. Like this meeting got rescheduled because you and me kind of had a little snafu on time zone or whatever, and that's fine, but I'm a move of one-on-one, a customer comes in, so a ton of meetings are being rescheduled, and that's probably where I think we are even better because I actually don't mind when people reschedule with me anymore because My agent takes over.

AI assessment note: “The year before I started x.ai, I did a 1019 meetings”