The Multiple of the COVID IPO

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Saster: I did not foresee it. Efficient markets should have taken account to a lot of this, right? This is why I'm a bit of a bull because I don't believe an efficient market in SaaS is good for the long term. Bill.com grew at 179% last quarter and margins were 79%. And the stock falls 18%. Like, I get why it might fall, but that's overreaction, right? We didn't know what world we were in.

Jason and Molly chat with Jason Lemkin of SaaStr (01:44). They discuss: advice for new VCs (16:14), the future of SaaS investing (27:37), playing offense as investors (35:50), secondaries and more.

(00:00) Jason and Molly tee up today’s interview show
(01:44) Jason and Molly speak with Jason Lemkin of SaaStr
(14:59) Notion - Get started for free at https://notion.com/thisweekinstartups
(16:14) Jason Lemkin’s advice for new fund managers
(26:16) Microacquire - Sell your business with no fees at https://try.microacquire.com/twist
(27:37) Will SaaS investments continue to be good?
(32:44) What makes Notion so good?
(34:44) AdQuick - Visit https://adquick.com/twist and mention TWIST to get $1000 off your first campaign.
(35:50) What does it mean to play offense? Why should you be playing offense now if you have the runway?
(39:35) Jason Lemkin’s predictions for the next year & advice for capital allocators/investors
(52:25) Are founder secondary sales a red flag?
(1:01:20) Strategies for investors in a down market

FOLLOW Jason Lemkin: https://twitter.com/jasonlk
FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood