Importance of Timing and Decision-Making in Technology Strategy

The chapter highlights the critical role of timing in technology strategy, sharing examples of companies that faced challenges by being too early in the market. It emphasizes the need for a balance between quantitative analysis and qualitative judgment in decision-making frameworks, underlining the significance of making quick decisions in the tech industry. The discussion also touches on the qualities essential for individuals in a high-growth environment, such as adaptability, motivation, and the willingness to take on new challenges.

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Today CJ is joined by Thomas Ream, the CFO of Workato, an intelligent automation platform that is heavily involved in AI. Thomas opens up about what it was like working in AI in the early days of the 90s. They discuss AI as a component of workflow and what it means to train AI models. He talks about the differences between working in hardware and software, the growing trend of hardware and software combinations, and the vast potential of quantum computing. Having worked for a social network prior to the existence of Facebook and other tech companies doing interesting things too soon, Thomas explains the importance of timing in tech and challenges the assumption that there is a first mover’s advantage in this field. He shares wisdom from his experience as a CFO, what makes a great one, why he doesn’t necessarily hire based on experience, and the importance of quick decision-making as well as his “lead, follow, or get out of the way” framework.

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SPONSORS:

Leapfin is accounting automation software that automatically prepares and posts reliable journal entries. High-growth businesses like Reddit, Canva, and Seat Geek choose Leapfin to eliminate manual tasks, accelerate month-end close, and enable accounting leaders to provide faster insights to help their companies grow. To automatically standardize your revenue data with measurable business impact, check out leapfin.com today.

Mercury is the fintech ambitious companies use for banking and all their financial workflows. With a powerful bank account at the center of their operations, companies can make better financial decisions and ensure that every dollar spent aligns with company priorities. That's why over 100K startups choose Mercury to confidently run all their financial operations with the precision, control, and focus they need to operate at their best. Learn more at mercury.com.

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

NetSuite provides financial software for all your business needs. More than 37,000 thousand companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅ NetSuite: https://netsuite.com/metrics and get a customized KPI checklist.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(01:42) Sponsor - Leapfin | Mercury

(03:45) The Need for Humans in Training AI Models

(05:54) Thomas’s Early Work in AI in the 90s

(07:50) What It Means to Train an AI Model

(08:38) AI as a Component of Workflow

(13:04 ) Working in Hardware Vs Software

(16:02) Sponsor - Netsuite | Maxio