20VC with Harry Stebbings | Jason Lemkin: Crowdstrike, WTF Happens From Here? Wiz Rejects Google’s $23BN Acquisition Offer|E1181 @20VC | Uploaded July 2024 | Updated October 2024, 15 minutes ago.
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.
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Timestamps:
(00:00) Intro
(00:47) Wiz's Rejection of Google's $23B Offer
(09:09) Influence of CrowdStrike on Wiz's Decision
(09:54) Choosing Between Antitrust Issues & IPO Demands
(13:58) Discussion on Liquidity in the Venture Ecosystem
(17:42) The Venture Game & Finding the Next Big Entrepreneur
(19:08) Requirements for Going Public
(21:40) How Well Did CrowdStrike Handle the Crisis?
(25:20) The Bull & Bear Cases for CrowdStrike
(29:08) Predicting CrowdStrike's Market Cap for End of 2024
(33:01) Jason's Analysis of Clio's $900M Round & $3B Valuation
(37:25) Jason's Take on Harvey's $100M Raise & $1.5B Valuation
(41:59) Quick-Fire Round
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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?
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Subscribe on Spotify:
open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466
Subscribe on Apple Podcasts:
podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465
Follow Harry Stebbings on Twitter:
twitter.com/HarryStebbings
Follow Jason Lemkin on Twitter:
twitter.com/jasonlk
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#20vc #harrystebbings #podcast #jasonlemkin #venturecapital #saastr #saas #founder #crowdstrike #wiz #clio #harvey #legaltech
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.
--------------------------------------------------------------------
Timestamps:
(00:00) Intro
(00:47) Wiz's Rejection of Google's $23B Offer
(09:09) Influence of CrowdStrike on Wiz's Decision
(09:54) Choosing Between Antitrust Issues & IPO Demands
(13:58) Discussion on Liquidity in the Venture Ecosystem
(17:42) The Venture Game & Finding the Next Big Entrepreneur
(19:08) Requirements for Going Public
(21:40) How Well Did CrowdStrike Handle the Crisis?
(25:20) The Bull & Bear Cases for CrowdStrike
(29:08) Predicting CrowdStrike's Market Cap for End of 2024
(33:01) Jason's Analysis of Clio's $900M Round & $3B Valuation
(37:25) Jason's Take on Harvey's $100M Raise & $1.5B Valuation
(41:59) Quick-Fire Round
--------------------------------------------------------------------
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?
--------------------------------------------------------------------
Subscribe on Spotify:
open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466
Subscribe on Apple Podcasts:
podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465
Follow Harry Stebbings on Twitter:
twitter.com/HarryStebbings
Follow Jason Lemkin on Twitter:
twitter.com/jasonlk
Follow 20VC on Instagram:
instagram.com/20vchq
Follow 20VC on TikTok:
tiktok.com/@20vc_tok
Visit our Website:
20vc.com
Subscribe to our Newsletter:
thetwentyminutevc.com/contact
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#20vc #harrystebbings #podcast #jasonlemkin #venturecapital #saastr #saas #founder #crowdstrike #wiz #clio #harvey #legaltech
