20VC: Why Product Market Fit Is Like Porn, How The Entrance of Facebook and Google Into Enterprise Software Effects Traditional Enterprise Companies & The Future Pricing Model For The Enterprise with Dennis Mortensen, Founder @ X.ai
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 3 March 2017
⏱️ 25 minutes
🧾️ Download transcript
Summary
Dennis Mortensen is the CEO and Founder of X.ai, the artificial intelligence driven personal assistant that lets people schedule meetings using plain English and nothing more than a CC to [email protected]. Their female persona Amy is so lifelike that users have asked her on a date at a rate of one request per month! X.ai is now one of the best funded AI startups having raised over $30m from our friends at FirstMark and DCM and a big thanks to Matt Turck for making the intro and from DCM, who also helped us with some of the questions for Dennis!
In Today’s Episode You Will Learn:
1.) How Dennis came to found one of the leading AI startups today with X.ai?
2.) Why is product market fit like porn? How does this analogy affect Dennis' evaluation of product market fit?
3.) What are the fundamental features required to turn a single user consumer product into an enterprise product? How should that transition be managed?
4.) Is Dennis concerned by large incumbents making their entrance into the world of more traditional enterprise companies with the likes of GSuite and Facebook for Work?
5.) How did Dennis evaluate the right pricing method for X.ai? What pricing mechanisms did he consider? What does Dennis believe is the future of enterprise pricing?
Items Mentioned In Today’s Show:
Dennis' Fave Book: Shoe Dog
Dennis' Fave Blog or Newsletter: Azeem Azhar: The Exponential View
As always you can follow Harry, The Twenty Minute VC and Dennis on Twitter here!
Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC.
X.ai is AI-poweredered personal assistant for scheduling meetings bringing you Amy or Andrew. The assistant you interact with like you would to any other person and it allows you to avoid the tedious hours of email ping pong in order to schedule one meeting. Even better, there is no sign in, no password, no download, all you do is cc [email protected] beautiful! And you can check it out now on x.ai it really is a must!
Workable is the all-in-one recruiting software for ambitious companies. From posting a job to tracking and managing candidates, Workable provides everything you need to hire better. Transparent communication, organized candidate profiles, structured interviews and a full reporting suite gives hiring teams the information they need to make the best choice. Workable is available for desktop and mobile and you can find out more on workable.com where you can try it for free.
Transcript
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| 0:00.0 | Welcome back. You are listening to the 20 minute VC with your host Harry Stebbings found hanging out on Snapchat at H. |
| 0:05.7 | Stebbings or writing some more it is his second time on the show |
| 0:21.2 | and with some exciting news for us today. So joining me in the hot seat for round two, I'm delighted to |
| 0:25.5 | welcome Dennis Mortensen, founder and CEO at X.aI, one of the most exciting startups in the AI |
| 0:31.1 | space, with also the status of being one of the best funded AI startups, having raised from our friends at First Mark, DCM, and IAVentures. |
| 0:39.2 | X.D.A.I bring you Amy and Andrew, the artificially intelligent personal assistant, |
| 0:43.2 | that lets people schedule meetings using plain English, and nothing more than a CC to Amy at X.A.I. |
| 0:48.8 | Their female persona, Amy, is so lifelike that users have asked her on a date at a rate of one request per month. |
| 0:55.0 | I know what you're thinking. Yes, she does have a better love life than me. |
| 0:58.1 | But I'd also like to say huge thanks to Brad at IA and Matt at first mark for the intro to |
| 1:02.6 | Dennis today, without which the show would not have been possible. |
| 1:05.3 | But before we dive into the show's state, you must check out Workable, the all-in-one recruiting |
| 1:09.3 | software for ambitious companies. |
| 1:11.1 | From posting a job to tracking and managing candidates, Workable provides everything you need |
| 1:15.4 | to hire better. Transparent communication, organized candidate profiles, structured interviews and a |
| 1:20.7 | full reporting suite, gives hiring teams the information they need to make the best choice. |
| 1:25.3 | Workable is available for desktop and mobile, and you can find out more on workable.com, |
| 1:29.6 | where you can try it for free. However, enough from me, so I'm now delighted to hand over to my good friend Dennis Mortensen, founder and CEO at X.AI. |
| 1:37.7 | Three, two, one, zero. You have now arrived at your destination. |
| 1:46.2 | Dennis, it's such a pleasure to have you on the show for round two. |
| 1:49.3 | I always so enjoy chatting to you, so thank you so much for coming back on the show today. |
| 1:53.2 | Thanks much for having me. |
... |
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