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 20 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
Santalo: Leaving Bubble requires completely rebuilding applications from scratch
“Bubble's a great platform, but if you ever need to get off of it cause it's not scaling or whatever, you're gonna have to rebuild the whole thing.”
Santalo: A $25/month freemium SaaS model requires tens of millions in VC
“It's not a free trial at 25 bucks a month. You're just not going to get there without 10 tens of million dollars of venture money.”
Santalo: Low-code market is still in its first or second inning
“I mean, if you look at the real competition is people building things from scratch. So, you know, I would say in some areas, yeah, there's been solutions that have come out and made a difference, but there's still a lot of greenfield opportunity here. I'd say …”
Santalo: Why he didn't negotiate valuation on 8base's Series A
“So look, before I tell you, I didn't negotiate valuation on the term sheet. So I negotiated other things, but the valuation was something I didn't touch.”
Santalo prefers to avoid Series A and later venture capital entanglements
“There are series A and after entanglements, which I would much rather avoid if I can.”
Santalo: 8base funds software development with services revenue over VC
“The idea is that the service revenue feeds the beast in lieu of venture capital while we build up the recurring platform revenue”
Santalo: 8base's Series A term sheet had no ratchets or liquidation preferences
“There was no ratchet provisions. There was no liquidation preference. There was no, none of that.”
Santalo: JavaScript has 14M developers, the largest single language community
“What we're trying to say is when you get into a base, you should already know what to do if you're a JavaScript developer, of which there are about fourteen million in the world. So it's the largest pool of developers, you know, around a language in the world.”
Santalo: 8base employs 30 people in Medellin, Colombia
“And then we now have 30 people in Medellin, Columbia that that's recent news as well.”
Santalo: 8base closed a $10.6M venture round in early 2022
“So we closed the 10.6 million dollar round earlier this year.”
Santalo: Foundry Group offered the cleanest term sheet he has ever seen
“It was the cleanest, best term sheet I've ever seen. And I've seen, you know, I've seen at least a dozen in my day.”
Santalo: 8base's revenue split is roughly 80% services and 20% platform
“So those percentages are changing, but call it 20% platform, 80% services.”
Santalo: 8base is approaching $100K in monthly platform recurring revenue
“We're like almost there.”
Santalo: 8base is approaching 1,000 platform customers
“Man, it's like somewhere approaching a thousand or so.”
Santalo: IBM Global Services uses 8base for European client work
“One of those is IBM global services actually uses a base for work they're doing in Europe.”
Santalo: 8base has raised $3.5 million from angels and seed funds
“We, we've raised three and a half million dollars. It's all been from angels and seed funds.”