This Week in SaaS: Should Wiz Have Accepted Google's $23BN Acquisition Offer, Crowdstrike: WTF Happens From Here: The Bull and the Bear Case & $1BN into Legal Tech in a Day with Clio and Harvey with Jason Lemkin
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 24 July 2024
⏱️ 51 minutes
🧾️ Download transcript
Summary
Jason Lemkin is one of the OG SaaS investors with all of his first five investments turning into unicorns with Pipedrive, Algolia, Talkdesk, Salesloft and RevenueCat all in his portfolio. SaaStr is the largest global community in SaaS and he has taught a generation the fundamentals of SaaS on saastr.com.
In Our Second Episode of This Week in SaaS:
1. Wiz Rejects Google's $23BN Acquisition Offer:
- How does Jason analyse the price of the offer? $23BN for a $500M ARR business growing 120% YoY?
- What is the reasoning for Google in pursuing the acquisition?
- If Wiz had of proceeded in the process, what are the chances it would have made it through regulators?
- Why did Wiz walk away from the offer? If Jason were on the board, what would he have done?
- Is there a correlation between the downfall of Crowdstrike and Wiz turning down the offer?
- What does this mean for the M&A market moving forward?
- Will there be a secondary round now in place for Wiz at $23BN?
2. Crowdstrike: WTF Happens from Here:
- Did Crowdstrike manage the crisis in the right way? What would Jason have done differently?
- What is the bull case for Crowdstrike moving forward from this point?
- What are the bear case for the company? Could this snowball and be the end?
- What will this do to company requirements on having single point of failure solutions?
- Where will the market cap of Crowdstrike be at the end of 2024?
3. LegalTech: Show Me the Money: $1BN in a Single Day:
- Clio announced a $900M round at a $3BN valuation. How does Jason analyse this?
- What does Jason make of Harvey's $100M raise at a $1.5BN valuation?
- Why does Jason think 2025 will be the year for AI parity? Why will we see the majority of SaaS features be commoditised in 2025?
- What is the single biggest regret that Jason has in his investing career?
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Honestly, Harry, I think in venture we're all pretending. I think we're all pretending today. The early stage folks are just, you know, early stage folks have never worried about liquidity. And the late stage guys, we got to deploy money. The time's taking on these funds. So you got to deploy them. We're praying, we're hoping liquidity comes back. We're investing, Harry, like there's almost as much liquidity as 2021. Welcome back to This Week in SaaS with me, Harry Stebbings. Now, this week in SaaS, is the show |
| 0:24.6 | where me and Jason Lemkin, the godfather of SaaS, sit down to discuss the biggest news items in |
| 0:30.7 | SaaS of the day. Today, three topics. Whiz turning down Google's 23 billion acquisition offer in their chase to go IPO and to go public. |
| 0:40.8 | CrowdStrike bringing global travel to its knees, the bull and the bear case for CrowdStrike moving forward. |
| 0:47.1 | And then finally, in a single day, a billion dollars of new investment into legal tech in the form of Clo doing a $900 million round and Harvey doing |
| 0:56.6 | a $100 million round. What a discussion this is today. But before we dive in today, all of you |
| 1:02.4 | listening use tons of software every day. Sometimes it fills us with rage. You can't figure something |
| 1:07.6 | out. The chatbot in the bottom right is useless. You keep getting bombarded with these useless pop-ups. |
| 1:13.0 | And for those of you who build products, no one wants their product to feel like this. |
| 1:17.2 | Thankfully, a company exists to help users without annoying them. Command bar. It does a couple of very helpful things. |
| 1:23.5 | First, it's a chatbot that uses AI to give users extremely personalized responses and deflect tickets. |
| 1:29.3 | But it can be beyond just text. |
| 1:31.3 | It can also co-brows with the user and show them how to do things inside the UI. |
| 1:35.3 | Magic! |
| 1:36.3 | But it can also detect when users would benefit from a proactive nudge, like a helpful hint, or an invitation to start a free trial. |
| 1:42.3 | Command Bar is already used by world-class |
| 1:44.9 | companies like Gusto, Hashicorp, Yotpo and Angelist. If you're a product CX or marketing leader, |
| 1:50.7 | check them out at command bar.com slash Harry. And talking about incredible companies with Commandbar, |
| 1:56.4 | I want to talk to you about a new venture fund making waves by taking a very different approach. |
| 2:01.6 | It's a public venture fund anyone can invest in, not just institutions and accredited investors. |
| 2:07.6 | The Fundrise Innovation Fund is democratizing venture capital, which could have big consequences for the industry. |
| 2:13.6 | The fund is already off to a good start with $100 million into some of the largest, most in-demand AI and data infrastructure companies. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Twenty Minute VC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Twenty Minute VC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.