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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Atlassian CEO on Why Everything is Overvalued & Are We in an AI Bubble | Do Margins Matter & Does Defensibility Exist in an AI World | Is Per Seat Pricing Dead & The Future of Vibe Coding with Mike Cannon-Brookes

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

Business, Investing, Tech News, News

4.4693 Ratings

🗓️ 13 October 2025

⏱️ 63 minutes

🧾️ Download transcript

Summary

Mike Cannon-Brookes is the Co-Founder and Co-CEO of Atlassian, the $50BN software giant behind products like Jira, Confluence, and Trello. Since founding the company in 2002, he has scaled it to over 300,000 customers globally, generating more than $5BN in annual revenue. Atlassian now employs over 10,000 people across 13 countries and is one of the most successful bootstrapped-to-IPO stories in tech history. Mike is also a leading climate investor and co-owner of several major sports teams.

AGENDA: 

00:00 Why Unreasonable Men Win in Startups

07:22 How to Make Co-CEOs Work 

13:22 Are We in an AI Bubble? Is Everything Overvalued?

26:46 The Future of Software Development: More or Less Devs

32:53 Do Margins Matter in a World of AI

34:02 The Future of Vibe Coding…

36:35 Does Defensibility Exist in a World of AI

42:09 Is Per Seat Pricing Dead in a World of AI

49:01 The Founder Journey and Leadership

54:28 Quick Fire Round: Parenting Advice, Relationship to Money

 

Transcript

Click on a timestamp to play from that location

0:00.0

reasonable men sort of live within the boundaries and so you need unreasonable men to change

0:04.5

things and move the world forward. One of the only predictions I think I would make accurately is 10 years

0:08.6

from now will look back and say, man, you remember that era? That was crazy. Most of the things

0:12.9

are vastly overvalued. Five years from now, we'll have more engineers working for our company than we

0:17.1

do today. More software developers working for our companies. We will create far more.

0:21.4

They will be more efficient. My favorite quote of Tobs is he once told me that the founder's job is to

0:27.0

fight the entropy of ambition. This is 20 VC with me, Harry Stebbings. Now, I started 20 VC 11 years ago

0:33.3

to have the chance to interview incredible entrepreneurs like the one we have sitting down with us today.

0:39.0

He is one of the greats, Mike Cannon Brooks, co-founder and CEO of Atlassian, the $50 billion software

0:45.2

giant behind products like Jira, Confluence and Trello.

0:48.5

Since founding the company in 2002, he's scaled Atlassian to over 300,000 customers, generating more than $5 billion

0:57.3

for the year of 2025 in annual revenue.

1:01.0

Atlassian now employs over 10,000 people and is one of the most successful bootstrapped

1:05.7

IPO stories in tech history.

1:07.9

He's also this super active climate investor and co-owner of several major sports teams.

1:13.1

This was so much fun for me to do and a real childhood tick the box moment in my journey.

1:18.9

But before we dive into the show today, I love seeing the team come together to make this show

1:23.6

happen. What I don't love is trying to keep track of all the information, the data and the

1:27.8

projects that we're working on across dozens of platforms, products and tools. That's why we use

1:33.2

Coda, the all-in-one collaborative workspace that's helped 50,000 teams all over the world get on

1:39.4

the same page. Offering the flexibility of docs with the structure of spreadsheets, Coda facilitates deeper teamwork

1:45.7

and quicker creativity, and their turnkey AI solution, the intelligence of Coda brain, is a game

...

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