Todd McKinnon, Co-founder and CEO of Okta, shares insights from scaling his company to a $13B industry leader. He discusses the high-stakes decisions that shaped Okta, including the importance of market timing and building a strong team. Todd reflects on the psychological shifts in leadership and the critical relationship with board members. He also emphasizes the need for long-term thinking in investor relations and the challenges of innovation amidst growth, offering compelling anecdotes from his entrepreneurial journey.

Julie Messino, President and CEO of Cracker Barrel, shares the restaurant's turnaround strategies, highlighting a successful promotion that ties to family traditions. Mark Klaus, outgoing CEO of Campbell Soup Company, reflects on his leadership journey and the company's mixed quarterly performance. Todd McKinnon, co-founder and CEO of Okta, offers valuable insights into cybersecurity, emphasizing modern challenges and the importance of tech transition. The discussion also touches on investment strategies and market trends, providing listeners with actionable financial advice.

Gideon Maltz discusses refugee employment. Todd McKinnon talks about cyber attacks. Renee Johnson reports on middle-aged binge drinking. Alan Lancz discusses current economic challenges.

My guest today is Todd McKinnon, co-founder and CEO of Okta, the leading provider of identity management for enterprises. Todd started Okta in 2009 after realizing that enterprises would need a robust solution for identity management in a world where everything was quickly moving to the cloud and today counts over 7,000 enterprises as customers. Our conversation focuses on how Todd decided to leave Salesforce to start Okta, the painful early years of growing the business, how companies can create and define a new market, the different roles he's had to play as the company grew and went public, and the frameworks he's put in place to continue to innovate and test new things as public business. I hope you enjoy our conversation.  This episode is brought to you by Microsoft for Startups. Microsoft for Startups is a global program dedicated to helping “enterprise-ready” B2B startups successfully scale their companies. If you’re a founder running a B2B company targeting the enterprise, you should definitely check them out.  For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club and new email newsletter called “Inside the Episode” at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Show Notes (2:19) – (First question) – Best slide in his presentation for starting Okta (5:21) – The early days of Okta and what they were trying to do (8:36) – Challenge of building the company from an engineering perspective (10:32) – First version of the Okta product (11:03) – An overview on identify management (13:55) – The major innovation in the early days of the product (16:11) – The early struggles of starting a company (18:49) – Becoming a default mode solution (20:39) – Most interesting ways the company has grown its services (22:10) – Future of platform businesses (24:24) – Expanding into an infrastructure business (25:59) – Important shifts that they are paying attention (28:21) – Future of our digital identity and Okta’s potential role (32:20) – The chapters of Okta’s story so far (35:03) – Challenges they had to overcome in growing the company (37:31) – Recruiting the right talent and fostering it early on (39:12) – Biggest mistakes he’s made with the business (41:06) – Benefits of extreme focus vs having a broader view of the problems (43:35) – Innovating within Okta (46:02) – How software businesses define cost of revenue and cost of goods (48:23) – Lessons they’ve learned about selling the services of a small company into the largest company (49:54) – Lessons from working with bad clients/customers (51:06) – Their inside view into the future of business today             (51:10) – Jeff Lawson podcast Episode (52:36) – Best way to maintain the growth of Okta over the long term (53:30) – Lessons he would give to business students today (54:51) – Being scared as a founder (55:27) – Kindest thing anyone has done for him   Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club and new email newsletter called “Inside the Episode” at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag  

Join Vijay Balasubramaniyan, CEO of Pindrop, and Todd McKinnon, CEO of Okta, as they revolutionize security usability. They believe security should be more than just rules; it needs to be appealing and intuitive. Vijay discusses advanced voice analysis, while Todd emphasizes the perks of sophisticated authentication methods that enhance access for diligent users. Together, they explore the future of security in a world full of connected devices, advocating for a balance between robust protection and seamless user experience.