David Schneider
Appearances
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Is speed the most important thing in those early days?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
So I spoke to 12 people before this show. Seven or eight said your biggest strength was your speed of decision making and clarity of decision making. Is there a decision that you made that with the benefit of hindsight, you wish you'd taken longer to make it?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What was the biggest one you got wrong?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Well, name and shame.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I'm so enjoying this. You said there about kind of bringing someone in versus hiring internally or promoting internally. It is one of the biggest problems for many founders of when to do that versus when not to. How do you advise them?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
My challenge is I do not think young people want to work like they used to or want to sacrifice like they used to. There are very few that do, and they tend to be founders. But I find that number is less.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
80 million, 90 million, give or take, when you came to ServiceNow, to 5 billion. Yeah. Anything that we haven't mentioned that you think is crucial in really enabling that successful revenue scaling?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
And how did you ramp them so effectively and so quickly?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What opportunity did you not take that you wish you had taken?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Did you have a revenue goal in mind for what you needed to do or get to, to be public? Absolutely.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What did you go out at price-wise? I think it was 18 bucks a share. Which is market cap? A couple of billion dollars. A couple of billion. And today it's?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Given that, how do you think about analyzing market size as an investor today? As you said, we don't see a pathway out over a billion. Gartner specializes in market sizing. How much focus do you put on market size today when investing?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How important is market timing for you when investing? You mentioned there the speed to IPO and what you wanted to do. You have to hit the market just at the right time for that to be possible. For you investing today, how do you think about that?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I think as Marc Andreessen says, there's no such thing as a bad idea, only a bad time.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Does being a sales leader help you on your referencing for companies? Because you are, as a sales leader, probably the most attuned to people, to listening, to knowing what question to ask. It's a real art form. Does being a sales leader help you do the best diligence and reference process?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
And being comfortable with silence. It's one of the most important skills I think you learn as an interviewer. I suggest everyone always interviews. I think you become a better husband or wife, a better friend. But being able to ask a question and sit in silence can be quite awkward. But most often magic leads after the silence.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
So I am going to push you a little bit. What's a big mistake that you made with ServiceNow when you think about the mistakes made in that journey? I know it's all up and to the right. I know the numbers show that, but everyone makes mistakes.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
One of the biggest mistakes I see founders make that we invest in today is they want to expand customer segment too soon. They want to expand into Enterprise too soon. They want to expand into SMB from Enterprise too soon. And I always say, it is so much deeper and richer than you think. And we've only penetrated 1% of it. Let's absolutely double down where our strength is.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How do you think about when is the right time to expand customer segmentation? And when is the right time to say, no, we're going to focus?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
ServiceNow today and ServiceNow while you were there, I mean, it has so many products. It's incredible. My question to you, how do you win with so many products? It is a difficult product marketing challenge. It's a difficult go-to-market challenge. How do you think about the lessons from this insane multi-product challenge?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What percent of that revenue is from net new customers versus from existing that you have the benefits distribution to?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Do you think with the companies you work with today, do you think they should have CS teams? No.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
We have had many people from Founders Fund on in the past, including your Brian Singermans of the world, who very clearly has the belief that the best founders do not need help. How do you respond and think about that?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
You have now arrived at your destination. David, I am so excited for this. I mean, I spoke to so many great mutual friends beforehand. Doug Leone said many wonderful things, which is always wonderful to hear. So thank you so much for joining me today.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How quickly do you know whether you like investing or not?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
You said before that your home is generally kind of series B, maybe series C. You know, we had Sam from Greylock on the show, and he said that actually this vintage of series B and C would not be positive cash returning to LPs. The entry price is too high, with revenue multiple compressions being where they are from public markets. It's just too difficult to make money. Do you think he's right?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What are the biggest reasons businesses plateau? We see so many between 50 and 100 where the growth just comes off a cliff. What are the reasons why those businesses plateau at that stage?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
If it didn't renew, that's a big problem. So the renewal cycle is a big pushback on the three-year contracts because you don't get the feedback as frequently as you would an annual. How do you think about that lack of feedback from the longer cycle?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Do you know what? It's the British accent. I get an extra 10 points on the IQ scale just with that. But I'm thrilled that you like it. I do want to start there because you have literally, I think, the most impressive operating career that I've had on the show, definitely for a long time.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What happens to the generation of companies that have raised at very high prices, largely from 2020, 2021, and they kind of plateaued and they're not moving into those valuations? What happens to them? Is it a role at play? Where do they go?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I always think a $10 billion company needs a second or a third act. And I always say the difference between a billion dollar company and a $10 billion company is a founder who's able to transition between chapters. That is it.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Billion dollar company, not billion dollar revenue.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Have you done a deal yet where with the benefit of hindsight, you're like, fuck, I paid too high a price?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
So when we look at the operating career, what are the single biggest achievements to you that you say to founders as, hey, I did this in my operating career?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How much ownership do you need to be in that position? It's got to be worth your time. It's got to be worth my time.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
So you're wanting 10% ownership?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How do you think about upside then? When you think about what is good enough and what you need it to be to be attractive enough? I'm sorry for asking because in really early stage problems, we talk about ownerships as kind of the core focus. And so for you, I totally get it in terms of kind of dollars invested as the core focus. But what is that upside requirement then? Is it a 5x, 10x?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How do you think about concentration across rounds? When you think about reserves today, how do you think about that? Is it a kind of one and done? We like to put 75 in or is it continuous across rounds?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How quickly do you think you know it's a good investment? I take the view that actually you know in three to six months.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Jason Lampkin, who's a friend of mine, I'm sure you know him from kind of the SaaS ecosystem. He always says, he says, actually, I've stopped giving feedback. I don't give feedback. Maybe the nicest founders will say thank you and then not listen, but everyone else just says, bluntly, go away. And feedback is not appreciated. To what extent do you agree with that or disagree?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Well, let's start with when you decide not to make an investment.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
for that size check. It's the hardest thing. I'm by no means the OG that you are, but I have zero time. I'm just like, no.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Do you share Vinil Kosa's view that 90% of VCs detract value?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
That keeps the seagulls away. There will be so many founders on their way to the office listening now going, that's my fucking board. That's my board. What would you advise them? Come with the three reds and the three greens? Control.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I always say call each board member up before and it can be five, 10 minutes, but just like, hey, David, what would you like to achieve out of this board meeting? You say, hey, I'm worried about our sales efficiency. Great. Why don't I address that with you now? Have you resolved that? Yes. Great. Then we don't need to take it to the board.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I'm going to do something really unfair. Three board members that you most like to work with. Oh, goodness.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Again, we have schedules. We kind of ignore them actually when it comes to it. When you look at that journey, that was a phenomenally successful journey. What were your biggest takeaways when you look back now with the benefit of hindsight?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What advice would you give to me on what I can do to be the best board member?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Do you find pattern matching hard as an investor, though, now? Because you have your Slootman, your Bill McDermott, you've got the best of the best CEOs in the world. At a point in the career, though, where they've seen it all, done it all, and they're OGs, and then you're kind of translating that to a 30-year-old founder building a B2B product, and they might just be as good.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
They're just earlier on the curve, but you're doing a like-for-like, given the experiences that you have. Is that hard?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I've got to ask about two people and then we'll do a quick fire. But one is the LaFonts. You work with them now. What are the biggest takeaways from working with them?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I want to do a quick fire because I could talk to you all day. So I say a short statement. You give me your immediate thoughts. Does that sound okay? Sounds great. Okay. So what do you believe that most around you disbelieve?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Biggest lesson from flying 100,000 miles a year?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
I always find it quite funny. Someone said to me the other day that we spend our whole childhoods trying to fit in and we spend all of our adulthood trying to stand out.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Do you agree with the shit sandwich feedback now? Yeah, shit sandwich is like, oh, Dave, you did really well here, but this wasn't great. But overall, you're doing great. Maybe I'm just getting old and jaded and cynical. I don't have time for a shit sandwich. David, this could have been improved. Why wasn't it done like this?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What was the biggest correction you made on your behavior? It's a little embarrassing. Go for it.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
We're new friends. You seem so lovely.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Bill McDermott, one of the most hailed CEOs of our time. Biggest takeaway from working with him?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
What makes him so good at selling?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
One question I always ask when I'm investing today is when we're analyzing how a company can integrate a tool into their existing stack is are we adding a line item on the budget or are we actually removing one? How important do you think being able to answer that succinctly is? And is it a problem if you are adding one now?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Thank you so much for being such a great guest. And I've so enjoyed having you on.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Do you know what I always get when I'm on boards?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
When we go back to those three, save money, make money, or keep you out of prison, as an investor today, do you have a preference for one of them?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Do you know what I hate in investing? It's competition. And the amount of people that are like, you know what? We can help you make more money because we deliver you more leads. We allow you to interact better with leads, whatever it is, like sales analytics solutions, you name it. And I hate competition. How do you feel about competition when investing?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Having won in intensely competitive markets.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Have you ever had a time, I'm sure, but when was a time when your GTM team was not crushing, when it was just not decimating? And for the many founders in that position now, how do you rejuvenate them when that is a palpable feeling?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
Are there backgrounds which make salespeople more likely to be great? For example, I actually like it when you find competitive athletes who turn into sports reps and sales reps or salespeople. They can... endure great pain for long periods of time for delayed gratification. Is there a background that you found to be commonly very valuable?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How do you feel about transparency as a leader? I know we had this beautiful schedule, but I'm loving this. How do you feel about transparency as a leader? We're often told about it being so important, but then there's this question of you do need to sometimes keep morale up artificially. You can't always say the truth. How do you feel about that?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
How do you empower them? Bring them to the meetings? Allow for idea generation in a new way? What is the right way to empower them?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
The numbers with ServiceNow are quite mind boggling. Did you know it would be as big as it is, or do you agree with the common statement that we always underestimate the size of our winners? Boy.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
You got there at 50 million an hour?