20Product: Enterprises are not Adopting AI Yet, When Will AI Break Into Enterprise, What are the Blockers, What Do Enterprises Need from AI & Why Services Companies Will Win in the Next 10 Years of AI Implementation with Howie Liu, Founder & CEO @ Airtabl

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The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 25 August 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Howie Liu is the Founder and CEO @ Airtable, the fastest way to build apps for your business. To date, Howie has raised over $1BN with Airtable with the last round valuing the company at $11BN and an investor base including Benchmark, Thrive, Caffeinated, Greenoaks and Coatue to name a few.

In Todays Episode with Howie Liu We Discuss:

1. Scaling into Enterprise:

What are the single biggest challenges when moving from PLG to enterprise?
Why does Howie believe you have only truly hit enterprise when you sign $1M contracts?
How long did it take for Airtable to sign their first $1M ARR contract?
How can founders know when is the right time to scale into enterprise?
How does the product need to change with the scaling?

2. Enterprises: Do They Really Love AI:

Why does Howie believe that enterprises are not jumping on AI yet?
When does enterprise interest turn into enterprise buying and purchasing?
What are the single biggest barriers to enterprises buying AI solutions today?
Post-purchase, what are the biggest implementation challenges for enterprises with AI?

3. The Changing Sales Process:

Are we seeing the bundling of tools within large enterprises today?
Which categories and vendors are most vulnerable? Which will survive the cuts?
What do vendors need to do to prove to CFOs that they need to remain in their budget?
How has the customer success process changed over the last year with tightening budgets?

4. Howie Liu: AMA:

Airtable famously got Benchmark to lead their Series C, how did this come to be when they famously always only do Series A?
Why does Howie believe that it is total BS to suggest post-PMF, everything is good?
What does Howie know now that he wishes he had known when he started Airtable?

Transcript

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0:00.0	I think like product market fit is just the beginning. And there are so many more hard parts of
0:05.8	building a business. I think a million dollar logo is the threshold of being kind of a real
0:11.5	enterprise account. Now, we are nowhere near the tornado of every enterprise just knows they
0:18.0	want AI in heaps and is very ready to go. Maybe that'll happen. Maybe the
0:22.9	train will arrive. But it's my sense from my conversations that we're not close to that yet.
0:28.0	This is 20 Product with me, Harry Stebbings. And 20 Product is the monthly show where we sit down
0:32.2	with the best product leaders in the world to discuss product and go to market. And today,
0:36.6	we're joined by one of the OGs of product-led
0:38.6	growth in the form of Howie Lew at Airtable. Now, in this show with Howie, we discuss if enterprises
0:43.4	are ready for AI, what they want in it, what their buying process is, what needs to change in
0:48.4	products as you move from PLG to Enterprise. This one is a gold mine of knowledge. And speaking of
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	...

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