The Ledger
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why aren't all 16 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
West: Consumer tech startups need to be in Silicon Valley
“Like if you're running a consumer product, you need to be in the Valley. You need to be in the U S”
West: Cloud software cut small business bookkeeping costs by two-thirds
“So I would say today, based on like just purely cloud software, the cost to deliver that, that set of books is now a third of what it used to be.”
HubDoc maintains net negative revenue churn in nearly every month
“We've seen that pretty much in every month since it has started charging people.”
West: Australia's cloud accounting market is 3 to 5 years ahead of the US
“But the Australian market is about three to five years ahead of the American market.
Cloud accounting.”
West: HubDoc built over 700 web scrapers to fetch source documents
“So, so effectively we built over 700 web scrapers that go out and log in on your behalf and go and get your Verizon bill for instance.”
West: HubDoc plans to scale to 7,000 scrapers in five years
“And so, you know, we're taking that number from 700 to 7000 over the next five years.”
HubDoc reaches 7,500 paying small business customers
“So we're at 7500 small businesses that pay us every month.”
HubDoc counts over 1,000 accountant partners driving 6,500 to 7,000 businesses
“So we're at like call it a thousand plus accountant bookkeepers who are paying us today. And then, you know, I would say that 6500 to 700 or 6500 to 7000 small businesses come from the, that channel and the rest are just kind of direct small businesses that we…”
HubDoc added over half its business in four to five months
“We've added Over half our business in the last, you know, four or five months.”
HubDoc acquires accountant and bookkeeper customers for about $350 each
“So everything we've done apart from like paid conferences and stuff like that has primarily been inbound. So our cost of acquisition is pretty low on, on an accountant bookkeeper. So it's about 350 dollars.”
HubDoc estimates accounting firm customer LTV at roughly $3,000
“So, so what I would say is, you know, our LTV is like it's still early days. So I would say it's about three grand roughly.”