Insight
Mortensen: Scaling AI before solving accuracy risks polluting training data
“The worst thing that can happen right now is that I start to pollute my data set because I think I have everything solved. So we are extremely protective about that data set.”
Assertion Not checkable as stated
Mortensen: x.ai lost one-third of customers after removing human verification
“That was the worst moment, I think, in our history for where we churned in that next couple of months, a third of all our customers, our whole customer base.”
Assertion Not checkable as stated
Mortensen: AI navigating external scheduling links is beyond current capabilities
“Our solution doesn't have the intelligence to pick up some link in some text, visit that website, look at it through the eyes of, say, something like a human, and figure out, I should probably click one of these links and determine from what I see what time we…”
Prediction Not checkable as stated
Mortensen: The AI scheduling platform with the largest network wins
“Whoever gets to build the bigger network first, It's probably going to end up having some sort of advantage, because if you and me both used Amy or Andrew, neither you nor me would have to do anything.”
Assertion Not checkable as stated
Mortensen: 83% of rated x.ai meetings receive five stars
“So, 83%, which was the last count I looked at, of all the meetings that we do are rated five stars. As in, we apply the option for people to rate the dialogue.”
Assertion Not checkable as stated
Mortensen: About 10 billion formal meetings occur annually in the US
“There's about ten billion formal meetings being set up in the U.S. Alone every year.”
Assertion Not checkable as stated
Mortensen: x.ai customer churn improved for 20 straight months
“This month and every month over the last. 1920 months. Have been better than the month before. So I'm in a very respectable range.”
Insight
Mortensen: SaaS moving to enterprise requires monthly churn under 2%
“So I think you need really if you want to slowly move into the enterprise, be Less than two percent month over month to be in some setting where you can have a sober growth.”
Assertion Not checkable as stated
Mortensen: x.ai schedules hundreds of thousands of meetings
“We are setting up hundreds of thousands of meetings and this being one of them.”
Assertion Not checkable as stated
Mortensen: 672 of 1,019 meetings he scheduled manually got rescheduled
“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, w…”
Disclosure
Mortensen: x.ai charges an average of $10 per month per customer
“10 bucks.”
Assertion Not checkable as stated
Mortensen: x.ai grew its waitlist to over 100,000 users in 18 months
“So we launched that probably in mid 2015, something like that. And then ran to kind of robust six figures over the next year, year and a half.”
Assertion Not checkable as stated
Mortensen: x.ai's $39 pricing survey failed when the paywall launched
“So we surveyed about 5000 people to kind of find that initial price. We got it wrong. 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 y…”
Assertion Not checkable as stated
Mortensen: x.ai reached seven-figure ARR within months of charging
“We ramped up in a few months to seven figures in ARR when we started charging for it. As in, kind of killed it. As if I looked at any one of my prior ventures, I actually really never kind of ramped up to seven figures at that rate.”
Assertion Partly supported
Mortensen: Zoom's S-1 showed 53% of enterprise clients began individually
“They stated that 53% of all of their enterprise customers initially started as a single individual who just signed up and added their personal credit card.”
Assertion Not checkable as stated
Mortensen: Over half of x.ai customers start as individual users
“More than half of all the customers that we get initially started as single individual users.”
Assertion Supported
Mortensen: x.ai has raised about $40M in venture capital
“About forty million dollars.”
Assertion Not checkable as stated
Mortensen: x.ai grew ARR over 100% year-over-year
“Oh yes.
Oh yeah, absolutely.”
Assertion Not checkable as stated
Mortensen: x.ai virtual assistants scheduled 3,500 meetings for me
“Four plus years in, Amy and Andrew have set up about 3500 meetings for me.”
Assertion Not checkable as stated
Mortensen: Negotiating a meeting manually takes eight emails on average
“And it takes about eight emails for every meeting, about three and a half on each side, in general, if two people are trying to negotiate it.”
Assertion Not checkable as stated
Mortensen: x.ai employs 70 people in Manila and 30 in NY
“So we are 70 in Manila and about 30 in New York.”
