This Week in SaaS: Should Wiz Have Accepted Google's $23BN Acquisition Offer, Crowdstrike: WTF Happens From Here: The Bull and the Bear Case & $1BN into Legal Tech in a Day with Clio and Harvey with Jason Lemkin
Jul 24, 2024
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Jason Lemkin, SaaS expert, discusses Wiz rejecting Google's $23BN offer, Crowdstrike's future, and $1BN investments in LegalTech. They cover M&A, company strategies, market reactions, and the evolving SaaS industry landscape.
Analyzing Google's $23BN offer for Wiz, implications of Crowdstrike's crisis, $1BN in LegalTech investments.
Challenges faced by tech investors, impact of Crowdstrike on global market, significance of services management.
Exploring AI integration in industries, reflections on leadership, recruitment strategies in modern business landscape.
Deep dives
The pretense in venture capital and the impact of liquidity concerns.
In the podcast, the speaker discusses the pretense in venture capital, highlighting the facade of pretending even amidst uncertainties. Throughout the episode, the speaker emphasizes the significance of liquidity concerns in various stages of venture funding. The discussion delves into the pressures faced by both early and late-stage investors in deploying capital and the underlying hopes for restored liquidity in the industry.
In-depth analysis of Technological Innovations in Saas.
The podcast episode provides an extensive analysis of recent technological innovations in the Software as a Service (SaaS) sector. It delves into the turning down of Google's acquisition offer by Whiz, the impact of Crowdstrike on global travel, and the massive investments in legal tech companies like Clio and Harvey. The discussion highlights the intricate dynamics of these technological shifts and their implications on the market.
Impact of service management in the tech industry.
The podcast delves into the significance of effective service management in the tech industry, citing examples like Command Bar and Fundrise Innovation Fund. It explores how these service-oriented approaches can enhance customer experiences, streamline operations, and democratize venture capital investing. The episode underscores the pivotal role of service management in driving innovation and market disruption.
Challenges and opportunities in AI integration across industries.
The episode delves into the challenges and opportunities associated with AI integration across various industries. It explores the growth and implications of AI companies like Klaviyo, Harvey, and CrowdStrike in reshaping market landscapes. The discussion sheds light on the evolving role of AI technologies in driving business transformations and addressing industry-specific needs.
Reflections on leadership, recruitment, and market perceptions.
Towards the end of the podcast, reflections on leadership, recruitment strategies, and market perceptions are discussed. The speaker shares insights on the importance of effective leadership, robust recruitment practices, and strategic market positioning. The episode calls attention to the critical aspects of leadership and talent acquisition in navigating the complexities of the modern business landscape.
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.
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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