Payne: Big tech firms like Cisco and Oracle cannot execute stolen ideas
Joe Payne · He hit $120m in ARR Then Sold $70m Unit for $250m, Today His Secrurity SaaS is Cash Rich... whats next? · Nov 1, 2023 · at 24:53
Code42 CEO Joe Payne advises startup founders not to fear meeting with large strategic tech corporations.
0:00 / 0:26exact quote · 26.8s
720p mp4 · rendered on demand · StarZero watermark
“I think sometimes entrepreneurs are worried that if they talk to a big company, if they talk to, you know, a Splunk or a Cisco or Oracle or somebody like that, that they're going to steal their ideas. And in my experience, those companies have trouble executing. On their own, like building their own products. They don't have the capability to just to listen to small companies like us steal our ideas and go execute them better than we do.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Joe Payne
Payne: Security budgets grew 5% in 2023 vs historical 30-35%
“I think the data showing right now, security budgets are growing about five percent in 20, 23. And, you know, historically over the last 10 years, security budgets grow 30 to 35%.”
Payne argues growth trumps profitability for SaaS companies before reaching scale
“I still believe, and I know it's unpopular this month, but the growth trumps profitability right now, especially if you're early in a market and you're not at scale.”
Payne: Most corporate data loss originates from insiders, not external actors
“Most data loss actually comes not from external actors, but from insiders, from employees, from contractors sometimes malicious, sometimes accidental, sometimes sort of in the middle, and so what we see is that about 60% of employees admit that they took data …”
Code42 research finds the average data breach costs an organization $16M
“Our research shows that the average breeze costs an organization, sixteen million dollars.”