Tristan Handy is the Founder and CEO at dbt Labs, a cloud-based data management platform that has raised over $400M to date, and was last valued at $4.2B in 2022. Dbt Labs has grown from just three companies using its free tool in 2016 to an ecosystem of 30,000+ enterprise users. Before founding dbt Labs, Tristan was the VP of Marketing at RJMetrics and the Director of Operations at Squarespace.

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In today’s episode, we discuss:

Dbt’s explosive growth
The strategic pivot from consulting to a software company
Unexpected strategies for building a tech category from scratch
The critical moment: Why and when dbt Labs sought venture funding
How to drive commercial adoption after open-sourcing
Two things every founder CEO should do
Much more

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Referenced:

Amazon Redshift: https://aws.amazon.com/redshift/
Bob Moore: https://www.linkedin.com/in/robertjmoore/
Crossbeam: https://www.crossbeam.com/
dbt Labs: https://www.getdbt.com/
Drew Banin: https://www.linkedin.com/in/drewbanin/
Jerry Colonna: https://www.reboot.io/team/jerry-colonna/
RJMetrics: https://en.wikipedia.org/wiki/RJMetrics
SeatGeek: https://seatgeek.com/
Steve Ritter: https://www.linkedin.com/in/steve-ritter-69495210/
Squarespace: https://www.squarespace.com/

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Where to find Tristan:

LinkedIn: https://www.linkedin.com/in/tristanhandy/
Twitter/X: https://x.com/jthandy

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Where to find Brett:

LinkedIn: https://www.linkedin.com/in/brett-berson-9986094/
Twitter/X: https://twitter.com/brettberson

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Where to find First Round Capital:

Website: https://firstround.com/
First Round Review: https://review.firstround.com/
Twitter/X: https://twitter.com/firstround
YouTube: https://www.youtube.com/@FirstRoundCapital
This podcast on all platforms: https://review.firstround.com/podcast

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Timestamps:

(00:00) Introduction

(02:56) The critical oversight in data analysis

(05:41) Becoming an “accidental founder”

(07:04) Inside the unique decision to start a consultancy

(08:17) The game-changing principle behind dbt Labs’ rapid growth

(11:20) Finding dbt Labs’ first customers

(15:52) Consulting's hidden scalability

(17:25) How dbt Labs created a new category

(21:03) The anti-demo strategy

(23:59) Community hacking: the Slack group that changed everything

(26:00) The open source philosophy

(27:39) When growth went exponential

(28:49) How consulting engagements shaped the roadmap

(30:02) Fundraising only when “things started to break”

(32:40) Consultancy superpowers: the hidden advantages

(34:04) Pivoting from consulting to software

(40:00) Key monetization strategies

(48:56) Why “begrudging” CEOs can be successful

(51:02) Advice for finding PMF: “It’s not a playbook”

(51:59) Lowering your standards is a hack

(53:30) Navigating emotional overwhelm

(54:25) Every CEO needs a coach

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