Patrik Fagerlund. He’s been working with mobile internet since the 90s. He’s an engineer by training and now, he’s the CEO and founder of Widespace, a mobile adtech company. Outside of work, he loves spending time with his family with his four kids and his wife along with many activities and sports.
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Eyal Hertzog. He’s been a venture-backed technology entrepreneur for over 20 years. He’s the founder of Metacafe, Israel’s fastest growing video sharing site which has reached over 15M uniques at its peak. Previously, he founded Contact Networks which was one of the first social networks in 1999. He’s now at Bancor Network and has been an outspoken thought leader on cryptocurrency in Israel and is a talented piano and bass musician.
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Mitchell Reichgut. He’s the CEO and co-founder of Jun Group. Prior to founding Jun Group in 2005, he led Bates Interactive, the online unit of Bates Worldwide Advertising which is now owned by WPP. As general manager and creative director, he helped grow Bates Interactive into a 70-person integrated unit with clients such as EDS, Warner-Lambert and many others. Before joining Bates, he was the creative director at Think New Ideas. He began his career as Art Director at Grey Advertising where he created print and TV ads for clients. Throughout his career, he’s worked with major brands in the industry including Procter and Gamble, Parker Brothers, Reebok and others.
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Evan Leong. He’s the VP of Product at Devslopes, a learn-to-code platform focused on taking beginners to paid professionals to curated project-based videos. He’s always been involved with startups since 2015, when he took the leap from a corporate job to join the startup world full-time.
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Joe Zhou. He’s the founder and CEO of FirstBlood, an eSports startup that recently broke the speed record for crowdfunding, specifically in the crypto world. Prior to founding FirstBlood, Joe co-founded Alt-Options, a Boston based fintech or financial technology startup that built the first American style option trading platform for digital currencies. Joe holds a BSBA from Boston University Questrom School of Business and an entrepreneur residence at Babson College.
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Alex Yakubovich. He’s the co-founder and CEO of Scout RFP. Prior to Scout, he was a co-founder of another startup which was acquired by LivingSocial in 2012. At that company, he led the operations team and helped the company become the largest online ordering providers in the country. He attended Case Western Reserve University where he studied mechanical engineering.
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Bruce Pon. He’s the CEO and founder of BigchainDB and he’s been playing in the crypto world.
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Christoph Jentzsch. His background is in Theoretical Physics and he’s been part of the Ethereum project since 2014 as a lead tester. At the end of 2015, he co-founded Slock.it, working on decentralized sharing economy through the connection of blockchain and IoT (Internet of Things). One of the more famous projects that he was part of was the DAO (Decentralized Autonomous Organization).
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Brandon Bruce. He’s the COO and co-founder of Cirrus Insights, the sales plugin for Gmail and Outlook. The company is number 41 on the Inc. 5000 and the fastest growing company in Tennessee. Brandon once raced his bicycle 508 miles across Death Valley in 35 hours and 7 minutes.
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Jeff Glueck. He became the CEO of Foursquare in January of 2016 after 18 months as the COO of the company. Prior to that, he was the CEO of Skyfire Labs, co-founder of Site59.com and CMO of Travelocity. Previously, he was a strategy consultant at Monitor Company and served as a White House Fellow in the Clinton Administration. He holds a master’s degree from Oxford as a Marshall Scholar and a bachelor’s degree from Harvard College.
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Dave Kellogg. Dave has more than 20 years of experience in high growth companies. Dave has been CEO of MarkLogic, CMO of Business Objects and member of Aster Data board of directors. Dave steered MarkLogic to $80 million in revenues. Business Objects witnessed equally impressive growth as it reached a revenue of billion dollars under his able guidance. Tune in and listen to Dave as he discusses various financial metrics of Hostanalytics. Targeting small businesses and enterprise level businesses, this company has grown 4x over the past 3 years. Read on and find out what makes this SAAS business tick.
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David Rogier. He’s the CEO of MasterClass where he leads the company’s vision of redefining digital learning by leveraging the expertise of world-class experts with the cutting-edge technology platform. David created MasterClass after seeing how the online education space was offering low-quality content and an unfair advantage of students.
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Eric Beans. He’s the CEO of Texting Base and before that, he was the CEO of Appuix. He was also the former co-founder of Premier Mortgage Capital and the author of Changing the World Through Texting Software. He was in the production as the producer and writer of LA Style Magazine and he’s “Chef Beans” on Daytime.
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Andy Swan. He’s the founder of LikeFolio. The company uses social data to determine shifts in consumer behavior on Main Street before it becomes use for Wall Street. This is his third financial technology company. The second, MyTrade, was acquired by TD Ameritrade in 2007.
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Chase Jarvis. He’s one of the most influential photographers in the last 20 years. He’s also the creator and CEO of CreativeLive. He’s won awards for his images on six different continents, including his contributions to the Pulitzer Prize winning story Snow Fall—the acclaimed New York Times interactive story heralded as the “future of journalistic storytelling” and Emmy nominated for his work documenting the music scene in Seattle. In 2009, he created the Best Camera app which was the first photo app that shared images directly to social networks. It was #1 on iTunes, App of the Year on Wired and got many other awards. He's currently focused on his work as the founder and CEO of CreativeLive, the world's largest online education platform for creatives and entrepreneurs with over a thousand teachers, 1500 classes and 10K hours of classes.
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Moshe Vaknin. He’s been dreaming about his company YouAPPi since he bought his first iPhone 3. After a long and successful career working in a variety of positions, Moshe founded 3 successful startups before finally starting YouAPPi. As the CEO of the company, he brings vast experience in the fields of advertising, publishing and affiliate marketing, making him adept at identify opportunities that can be transformed into profitable realities.
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Sergey Sholom. As a teenager, he was a championship-level gamer and created the first large gamer group called S-port Tournaments in Russia for Quake. After getting his PhD in mathematical modeling, Sergey founded Datcroft Games LTD in 2004. Over the past 13 years, the company has developed multiple worldwide popular games with millions of users. He continues to oversee a company with over a hundred employees and continues to bring new cutting edge games to the market. Their latest game called Pixel Wars which will be released in the summer of 2017, has already received critical acclaim and will become the game changer in mobile eSport.
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Tran Hung. He’s one of the founders of Uquid which is the world’s first service offering debit card solutions for cryptocurrency holders. They currently support 79 of the biggest digi-coins including bitcoin, ethereum, litecoin, ripple, etc. They also offer worldwide mobile recharge support, bills payment services, grocery and pharmacy vouchers, ticketing services, and many other benefits.
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Martin Koppelmann. He is the co-founder and CEO of Gnosis, the decentralized platform for prediction markets. He has been an entrepreneur and thought leader in the blockchain space for more than 4 years. He is closely related to prediction markets and has worked on decentralized, market-driven, governance mechanisms.
Famous Five:
Favorite Book? – Martin does not read books, but considers Reddit a good resource
What CEO do you follow? – some VCs, but no specific CEO
Favorite online tool? — Slack, Trello
How many hours of sleep do you get?— Less than 6
If you could let your 20-year old self, know one thing, what would it be? – He wished he looked earlier into game theory and economics
Time Stamped Show Notes:
01:07 – Nathan introduces Martin to the show
01:43 – Bitcoin was the reason Martin got into the crypto and blockchain space
01:58 – This was during the time the Euro was having problems
02:09 – Martin started to evaluate how he looked at money; he learned about bitcoin and the possibility of creating different forms of money
02:35 – Gnosis has evolved
03:04 – They are assuming that Gnosis will be a decentralized platform for prediction markets; for betting, auctions and insurances
04:32 – Martin says companies like eBay, Uber and AirBnB will be replaced by a decentralized platform
04:51 – They may replace companies that go into information aggregation
05:02 – Instead of having different analysts determine the revenue of a company, markets and forecasts will be aggregated to one number
05:15 – Gnosis has zero customers and zero in revenue, but they have a team and have raised capital thru selling GNO tokens; they raised $12.5 million
06:14 – The tokens were sold for 250,000 ether, a blockchain currency, and at the time the tokens were sold, the ether was worth $12.5 million
06:55 – The token has its own value and is currently trading at $240 a piece
07:04 – Gnosis collects ether and pays their employees with it
07:33 – To convert ether into real dollars, Martin uses Kraken, Coinbase and Poloniex
08:40 – The foundation of crypto is its big vision and the vision to create something as big as the internet; however, currently, it is still just speculation
09:31 – The token itself is almost always issued in Ethereum; the consumer creates the rules so the first set of rules they made involved organizing the token sales
10:03 – Martin did the token auction and was completely controlled by the blockchain
10:40 – Compared to Bitcoin, Ethereum was easier to use for developers
11:10 – If crypto becomes the currency of the future, Martin says he hopes that people will become equally rich. He is currently working on a project where each person can issue their own currency and others would agree to accept each other’s currencies
11:37 – They are trying to democratize money
12:27 – Nathan says there is a limited supply of ethereum in the blockchain
12:46 – Personally, Martin does not follow the bitcoin model
13:02 – Martin is thinking of a new world where people are part of a new economy; each one gets to issue their own tokens and the tokens have value
13:50 – Inflation can be used to finance a public good
14:11 – For example, let’s say you want to create a platform like Uber, Uber is made to serve the public
14:35 – The operating cost is not what made Uber expensive to build, it was the spend on marketing and buying everyone on the platform
14:57 – Martin says there can be a new model where people can create value by joining the same platform
15:13 – The value creation happens when people join the platform, this is where tokens are useful and can be used as incentives
15:58 – The early adopters get more and those who join later will have to pay fees
16:12 – Nathan says this sounds like a network marketing scheme
16:25 – Martin says this is how Uber found success – in the beginning someone paid $2 billion and in the end, it’s the users that pay; but, the curve can be much flatter
17:02 – Nathan asks Martin how values go up in crypto
17:42 – Martin says value creation is made when everyone agrees on something
18:15 – The thing about competing token issuances is that people need to find a way to combine their different tokens onto one platform
18:44 – Nathan says he can see the good intentions of the people who are in the crypto space, but he is trying to figure out who will win or lose when the crypto marketplace is more mature and established
19:28 – Martin says assuming there will be a winner and loser, the difference is found in people who have control over a platform
19:49 – For example, in Uber they can change rules and raise fees, but on a decentralized platform, you can structure it in a way that makes restrictions on yourself
20:16 – If you monopolize the platform, you can still get the fee but you have no control in changing it
21:02 – Martin says there is power in making your governance mechanism into something that does not allow you to change anything
23:31 – The Famous Five
3 Key Points:
Crypto and blockchain can be the currency of the future.
You create value when people agree to join a platform together.
A future where people can have their own currency may be the way to democratize our use of money.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives
Nick Candito. He is the Chief Executive Officer and co-founder of the company called Progressly, championing the company’s mission towards becoming the new standard for how teams find and execute business processes. He previously served as Relate IQ’s head of user success and business operations which was acquired by Salesforce, the first automatic and intelligent CRM solution. Nick founded Progressly to address how large industries operate, innovate and share around core business processes.
Famous Five:
Favorite Book? – Leaders Eat Last by Simon Sinek
What CEO do you follow? – Jeff Weiner, Satya Nadella, Dick Costolo, Jeff Bezos
Favorite online tool? — Hubspot tools for email, Pocket
How many hours of sleep do you get?— less than 8
If you could let your 20-year old self, know one thing, what would it be? – be patient, ask more questions and optimize by being around the best people
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01:07 – Nathan introduces Nick to the show
01:49 – Nick thinks Salesforce will win the CRM space, as well as Microsoft and LinkedIn
02:25 – Nick is impressed by Base CRM and Social Capital
02:57 – Nick stumbled into tech as he was originally a finance major
03:15 – He started by joining a small software team building technology for the pharmaceutical industry and learned about the manual system of the tech industry
04:04 – Nick then joined Crimson Hexagon and he learned how to take a company to the next level using tools like Salesforce
04:38 – With RelateIQ, Nick learned how to create a sales system of engagement
05:18 – Nick thinks the best founding duo he has ever encountered is Adam Evans and Steve Loughlin
06:29 – Progressly is the operational system of records with a focus on the Fortune 1000 CROs or contract research organizations
07:24 – The company has a mobile first strategy (people who are working outside of office)
08:01 – Progressly works with a variety of companies; big companies that include Shell Oil and those in the mid-market segment
08:25 – The highest price is $49 per user, with the IT Group of Chevron they have 60,000 employees within the company
09:31 – The company was founded in 2014 and started to fundraise aggressively in 2015; they were able to raise $10 million in the seed, series A and after
10:22 – They had a very specific profile for their seed round and focused on a large institutional investor, a micro VC, and some high value angels—it played out the way they planned
11:17 – They are looking at getting a positive net churn and at how they can accelerate the growth of their accounts; for example, from site-wide deployment to regional deployment to enterprise deployment
13:28 – They are now in the hundreds in terms of customers; the energy and utilities sector has a high network effect
14:05 – Nathan just interviewed Geoff Moore who said the more specific or weirder the sector, the better
15:24 – The utility metric depends on what the user is running on operationally
16:03 – The active number of seats are in the thousands
16:46 – The first year revenue was pretty low because they did a paid pilot offering
17:10 – They were looking into the pilot to use case expansion
17:55 – They want to have a 100% growth, year over year
18:10 – It is easier to drive a high growth rate rather than have customers who can refer you to others
19:41 – Nick will celebrate when he gets to $5 million in ARR or accounting rate of return
20:40 – Currently, they are doing less than 300 grand per month
21:16 – Having an enterprise cycle in your business is slower upfront, but has the ability to experience significant growth in the long run
21:31 – They have 30 employees with some in product design and engineering
22:31 – The payback period is significantly lower than 12 months
24:38 – The Famous Five
3 Key Points:
Target a specific group for your customer base to increase the chances of referrals.
An enterprise account may prove to be slow at first, but it will pay off in the long run.
Ask your customers to promote your business to other people.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives
Anindya Datta. He is the CEO and Chairman of a company called Mobilewalla, a mobile consumer, audience platform company. Before Mobilewalla, he founded a company called Chutney Technologies where he was backed by Kleiner Perkins which was eventually acquired by Cisco Systems. He has been on the faculties of Georgia Tech, The University of Arizona and The National University of Singapore. He obtained his undergraduate degree many years ago and his MS and PhD degrees from the University of Maryland College Park.
Famous Five:
Favorite Book? – The New New Thing by Michael Lewis
What CEO do you follow? – Jose Mourinho
Favorite online tool? — Outlook and Gmail
How many hours of sleep do you get?— 5 ½ hours
If you could let your 20-year old self, know one thing, what would it be? – Drink less and study harder
Time Stamped Show Notes:
01:26 – Nathan introduces Anindya to the show
02:21 – Mobilewalla collects data for how consumers behave on mobile and processes it for mobile marketers—they have two products: mobile audience and raw mobile data
03:38 – When companies buy the audience, Mobilewalla provides the IDs and it is a one-time deal; the raw data is given on a subscription-basis which is paid monthly
04:28 – Right now the SaaS model is earning more in terms of revenue, but Anindya thinks this will change in December
04:57 – They are currently modifying the audience pricing to become a recurring stream
05:10 – They are planning to offer the data segments needed by a company and get a monthly payment for it
06:07 – Mobilewalla gets their data from different sources including the ad request system in mobile, they barter with the ad company in exchange for data
06:54 – They also put a pixel in an ad and obtain data from you as you browse
07:23 – This includes your location
07:57 – The company started with buying the information they can collect from other companies’ ads and then moved on to trading
08:32 – 2014 is their first revenue year where they got $1 million from the cut of the media buy
09:10 – 2015 was also all media buys where they got $4 million
10:18 – They stopped media buying in June 2016 and played a key role in the US presidential election—the revenue generated was $4 million: $750,000 in data and $3.25 million was from media
11:33 – The projection for this year is $5.1 million (all coming from data), but they have deals with companies that include media work
12:21 – Mobilewalla was one of the key data arms for a major party
12:33 – They created segments for evangelical Christians
13:31 – Anindya cannot share who they worked for but they can say the client was very happy with their work
14:10 – They raised their capital thru venture funding which are convertible notes worth $4 million; they have not yet raised a series B
15:50 – In May 2016, all the revenue was from data and they got $12,000. In June of this year, they hit $250,000—this is a 20x growth in 13 months
16:32 – In May 2017, they made $172,000
17:05 – On SaaS, they have 9 customers with subscription accounts and they pay from $8,500 to $41,000 a month
17:21 – The biggest chunk of audience revenue comes from Oracle, they get paid based on the segments that were sold
18:10 – In June, they were close to $100,000 from their mobile audience; there are over 250 organizations buying from them including Unilever and Procter and Gamble
19:12 – Ever since they started there are only two companies who have not continued working with them
20:01 – The company has two sellers – one in New York and one in Singapore
20:27 – The total team size is 38 with 3 focused on sales acquiring new clients; the average sales cycle for a SaaS client is 45 days
21:21 – There is zero variable marketing spend for the company
21:51 – The company headquarters is in New York and the US team is located in New York and Atlanta where the US engineering team is based
22:12 – The US team size is 10, the Singapore team size is 12, and the rest is based in Calcutta, India
24:21 – The biggest amount of money they generated during the election was the “get out to vote or GOTV” – they monitored every polling booth in a certain number of states and they were able to tell the ground team who voted and who did not
25:04 – During the election their data was acquired in real time
27:15 – The Famous Five
3 Key Points:
Invest in a business that can bring in profit; this will give you the capital you need for your other businesses.
Data is king.
You CAN barter with other companies to reduce your spend on marketing.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives
Cameron Herold. He’s known as the business growth guru. He’s the mastermind behind hundreds of companies’ exponential growth. He’s built a dynamic consultancy whose current clients include the big 4 wireless carriers. His clients like that Cameron only speaks from experience. He’s earned his reputation as the business growth guru by guiding clients to double their profit and revenue in just 3 years or less.
Famous Five:
Favorite Book? – Good to Great
What CEO do you follow? – Travis Kalanick
Favorite online tool? — CommitTo3
How many hours of sleep do you get?— 9
If you could let your 20-year old self, know one thing, what would it be? – “Everybody’s insecure, everybody’s nervous and just suck it up and run with it, because everybody’s more worried about themselves and never about me”
Time Stamped Show Notes:
01:16 – Nathan introduces Cameron to the show
02:04 – Cameron was featured on TED Talks’ Raising Kids as Entrepreneurs and that’s where his career got started
02:13 – Cameron got into College Pro Painters
02:24 – Cameron was the COO at 1-800-GOT-JUNK
02:29 – Cameron grew the company from 14 employees to 3100 employees in 6 years
02:33 – Cameron started coaching CEOs 10 years ago
02:48 – Brian Scudamore who was in Episode 409 and he is Cameron’s friend
03:20 – Cameron shares why he chose the consultancy path
03:43 – “I don’t need to build another company to feel good”
03:50 – Cameron likes doing what he does
04:02 – Cameron shares what happened in cryptocurrency in 2000
04:04 – There were 15K companies using currencies
04:14 – Electronic currency was tied to US dollars in terms of valuation but it was backed by nothing
04:27 – They took a percentage of every transaction
05:06 – One of the companies that Cameron helped was BlueGrace Logistics
05:18 – Cameron coached the CEO, Bobby Harris, and 5 other executives
05:21 – Form $80M top line revenue, they grew to $250M
05:33 – The company is all about culture and that is Bobby’s focus
05:47 – Cameron does two 90-minute video calls with all of his clients
05:56 – It’s mostly mentoring
06:08 – Cameron teaches how to put the right systems and processes in place
06:25 – Most entrepreneurs just wake up one day with the realization that they’re clueless about what they’re doing
06:44 – After experiencing substantial growth, a company has no idea what to do next
07:04 – There are a couple of companies that Cameron has equity in
07:30 – Cameron has a couple of groups on the investment side
07:43 – Cameron’s two books, Double Double and Meetings Suck, speak to the core of what Cameron is doing
07:55 – Cameron wrote a book because he’s a paid speaker and speaker bureaus want to put out more content
08:04 – Cameron is an advisor and investor for Tucker Max’s Book in a Box
08:16 – Book in a Box does an 8-hour interview and strips the content from your head
08:40 – It costs $25K to pull the content out of your head and put it into print
08:44 – Thought leaders and CEOs need to have a book in this day and age
09:10 – Cameron shares how great Book in a Box is at what they do
09:24 – They also pulled some content from Cameron’s previous speaking events and used the copy of his first book
09:29 – They provide a format for our thoughts and they ask the right questions
09:49 – Cameron has sold around 50K copies of Meetings Suck
10:03 – Cameron targets the leaders of the meetings, participants and discusses how the meeting should proceed
10:30 – Cameron wrote Double Double 6 years ago
10:52 – Cameron’s speaking fee was $7500 before he had published his books, now it is $35K
11:11 – Cameron is one of the best speakers that we’ve had in a long time now
11:51 – “I think we’re at the very, very peak of a market right now”
12:34 – Some of Cameron’s clients have been with him for 3-4 years, some just a year and others 3-6 months
12:51 – Cameron’s starting fee is $80K annually and goes up depending on the client’s needs
13:20 – Cameron shares how he talked with Sprint’s Jaime Jones
13:46 – “I don’t understand their business and I don’t need to”
14:35 – Cameron focuses on the people side of the business
15:16 – Cameron shares where he puts his money to increase his revenue stream
15:42 – Everything is a little overpriced now in real estate
16:04 – Cameron shares where his property is and how he is managing them
19:25 – The Famous Five
3 Key Points:
Some entrepreneurs get overwhelmed by their company’s incredibly, fast-paced growth and they need support in learning how to sustain that growth.
Have the right systems and processes in place to carry the momentum of your business.
Invest your money after you’ve done the research yourself and know exactly what you’re getting into.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives
Jack Peterson. He’s the co-founder of Augur which is a decentralized, prediction market platform that runs on the ethereum decentralized network.
Famous Five:
Favorite Book? – Handbook of Applied Cryptography
What CEO do you follow? – Elon Musk
Favorite online tool? — Ethereum
How many hours of sleep do you get?— 8
If you could let your 20-year old self, know one thing, what would it be? – “Don’t spend too much time on impractical things”
Time Stamped Show Notes:
01:10 – Nathan introduces Jack to the show
01:28 – Augur is a decentralized prediction market platform
01:34 – The platform exists on a ethereum decentralized network
02:09 – Bitcoin is the first blockchain which was initially intended for payment
02:19 – Ethereum is a blockchain that is flexible, you can upload programs where people can execute their programs
02:38 – Augur is a set of programs that run on the network of ethereum
02:54 – The founder of ethereum was on Episode 758
03:11 – Augur has a set of smart contracts on ethereum that people run
03:57 – Augur is currently finishing their beta test and it is not yet live
04:02 – Their smart contract code is undergoing security audits
04:12 – Jack shares how to use Augur
04:27 – The aim is to make the experience similar to accessing a regular website
04:40 – Augur is a venue to bet on any world event
04:49 – For example, making predictions with politics
05:40 – The market you create is where you can buy and sell shares of the event
06:25 – An example scenario: the Super Bowl
06:40 – A market is where someone can place their bet
07:10 – In a normal sportsbook, people can bet on the winner
07:19 – Who will win the Super Bowl? This is the market on Augur and people can place their bets
07:37 – You can buy and sell shares of any of the outcomes
08:17 – The people in the market set the price of the shares
09:06 – With the Super Bowl, there will be multiple outcomes
09:28 – When you set-up the market, you set-up the order book for each of the outcome
10:05 – You could place a bet by buying shares of the outcome
10:41 – When your bet wins, the value of the shares go up and if you lose, it will be zero
10:59 – “You’re betting on how likely the outcome is to happen”
11:27 – Jack shares how someone who doesn’t have any experience in crypto can participate in Augur
11:35 – First thing you need to do is get the crypto currency (you can use your credit card)
12:01 – Augur isn’t involved with any platform that exchanges dollars to crypto, so you have to get it from third-parties
12:30 – You can buy ether from Coinbase and use the ether to place bets on Augur
13:10 – If you already have ether, you can already participate in a market
13:55 – Augur has an embedded plugin similarly to Paypal which is for Coinbase and ShapeShift
14:25 – If you signed in, you will have the ether to bet
15:05 – You can create a market on the trading page
15:37 – You’re betting with whomever wants to participate in the market
15:48 – The person who creates the market will set-up an order book with actions
16:51 – Jack did a Token share
17:07 – “Our token is called rep”
17:58 – Token has raised $5.3M in August and September of 2015
18:10 – It was a $5.3M equivalent in crypto
20:30 – The Famous Five
3 Key Points:
Ethereum is a blockchain that Augur uses to run its programs.
There are multiple platforms available for dollar to crypto currency exchange.
Maintain your focus on what’s important.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives
Steve Kirsh. He’s the CEO of Token, a Silicon Valley startup company developing a modern platform for open banking. He’s pioneered several computer core technologies like optical mouse, Internet search, spam filtering, and secure identity and founded 7 high tech companies—two with billion dollar market caps such as Infoseek and Frame Technology. He received his BS and MS in Electrical Engineering and Computer Science from MIT in 1980.
Famous Five:
Favorite Book? – Like A Virgin
What CEO do you follow? – Elon Musk
Favorite online tool? — SimplyFile
How many hours of sleep do you get?— 6.5
If you could let your 20-year old self, know one thing, what would it be? – “Just hire good, strong and experienced people”
Time Stamped Show Notes:
01:25 – Nathan introduces Steve to the show
02:04 – Token supplies open banking software to banks
02:24 – There’s no real API that works with banks and this is the problem
03:00 – One of Token’s customers is Fidor Bank
03:02 – The problem is most banks don’t have an open API where you can do things like move money
03:19 – Token can get into Fidor’s API to drive its API
04:13 – Token has spent time creating an end-to-end secure architecture that is based on digital cryptography
05:24 – Steve thinks that there’s no real need for blockchain for a lot of financial applications
05:38 – “The technology for blockchain is just not appropriate”
05:48 – The Bank of England did an experiment with etherium
06:24 – Token was launched in 2015
06:50 – Steve shares how Token came to life
07:15 – Token raised $18.5M in a series A
07:26 – There’s legislation in Europe that requires banks to open their APIs and that’s when Token came in
08:07 – Token charges per API calls
08:10 – Token gets the calls for free from the banks
08:50 – The charge depends on the API calls
09:18 – Nathan simplifies how the model works
10:05 – There’s no equivalent to PSD 2 in the USA and it’s only for banks in Europe
10:20 – This can only happen in the USA if people want to be compatible with the banks in Europe
11:33 – Token’s first bank
12:11 – There are currently around 5 banks that are integrated with Token
12:25 – Team size is 25, split between San Francisco and London
14:20 – The Famous Five
3 Key Points:
Find the perfect timing and opportunity to pitch your business.
It is easier and more secure for banks to adapt a technology that has been tested than it is for them to create their own.
Hire good, strong and experienced people for your business—it just makes like easier.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives
James Smith. He’s the co-founder and CEO of Bugsnag, the leading crash monitoring platform for web and mobile applications. The company helps companies like Airbnb, Lyft, Cisco, Pandora and Yelp catch and fix errors on their applications. Originally from London, James moved to the Bay area in 2009, leading the product team as the CTO of Heyzap. In his spare time, he likes hacking open source software, eating junk food and practicing his American accent.
Famous Five:
Favorite Book? – Radical Focus
What CEO do you follow? – Jeff Bezos
Favorite online tool? — eShares
How many hours of sleep do you get?— 8
If you could let your 20-year old self, know one thing, what would it be? – “If you don’t ask, you don’t get, apply it to your life”
Time Stamped Show Notes:
01:11 – Nathan introduces James to the show
02:00 – If a company has a software, Bugsnag detects when the software is broken
02:22 – Bugsnag charges monthly
02:28 – The price varies depending on the company’s needs
02:36 – Price starts at $29 a month to tens of thousands a month depending on the scale of the business
03:17 – Customer cohorts
03:57 – Team size is 35 and will be 45 at the end of the year
04:30 – James and his co-founder quit their job in 2012 and started Bugsnag in 2013
04:40 – James was the CTO for Heyzap which was a Y combinator company in the gaming space
04:59 – Heyzap wasn’t able to solve the problem James had with Bloomberg
05:59 – James invested in Heyzap and learned a lot from his time with them
06:40 – Heyzap was acquired by the German company Fyber
07:06 – James’ experience entering the startup world
08:30 – With Heyzap, James had to decide whether or not he’d buy his shares before the acquisition
09:43 – James’ price was low because he was an early employee of Heyzap
10:41 – James was 29 when he left Heyzap
10:50 – Bugsnag was initially bootstrapped, then raised in 2013
11:08 – Bugsnag went with Matrix Partners
11:32 – Bugsnag raised a total of $9.5M
11:49 – Customer number is around 4000 companies
12:04 – Bugsnag has a free and premium model
12:14 – There are 60K software engineers who are using Bugsnag
12:21 – One third are organizations and the rest are using it for free
13:00 – First year revenue was $4.5K in ARR
13:27 – Bugsnag has broken $2M ARR already
13:47 – “The expansion revenue is really, really strong”
13:50 – Bugsnag is constantly in a net negative churn
14:06 – Logo churn is around 1%
14:40 – Bugsnag started with low deal sizes and grew them slowly
15:05 – People try Bugsnag for free and see its value
15:45 – Healthy net negative churn in the industry is around mid-single digit to low double digit negative churn
16:41 – The best driver of growth for Bugsnag is word of mouth
17:01 – Bugsnag also does conferences and had 18 conferences last year
17:10 – Sponsorship price per conference can go up to $10K
17:28 – Large companies go to conferences as well
17:35 – Payback period is the 12-month which is the rule of thumb
18:17 – Bugsnag is in a typical SaaS gross margin
20:25 – The Famous Five
3 Key Points:
If you don’t ask, you won’t receive; therefore, just get out there and ask for what you want.
Small deal sizes can grow and expand to large ones once people see your value.
Consider owning a part of a company—especially if it’s a company that you truly believe in.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives