Run the Numbers
CJ Gustafson
Run the Numbers is a twice-weekly podcast about financial metrics and business models, designed for ambitious people operating tech startups. It's a collection of things host CJ Gustafson (CFO at Partstech and writer of Mostly Metrics) has learned and thought about in the trenches as a tech CFO.
This show is meant to serve as a playbook of sorts for the stuff CJ wishes he knew earlier in his career, both from experience and from copying people smarter than himself.
Topics frequently touch upon Startup SaaS Metrics, Annual Budgeting, Financial Forecasting, Headcount, Equity, Dilution, and Fundraising – and how all of these drive business performance and growth. cjgustafson.substack.com
This show is meant to serve as a playbook of sorts for the stuff CJ wishes he knew earlier in his career, both from experience and from copying people smarter than himself.
Topics frequently touch upon Startup SaaS Metrics, Annual Budgeting, Financial Forecasting, Headcount, Equity, Dilution, and Fundraising – and how all of these drive business performance and growth. cjgustafson.substack.com
Episodes
Mentioned books
Sep 4, 2025 • 1h 11min
From Facebook’s Hypergrowth to Daffy’s Disruption: A CFO’s Playbook for Saying Yes
In a spirited chat with Ed Park, a finance leader known for his positive outlook, listeners dive into the financial intricacies of hypergrowth companies like Facebook and Asana. Ed shares anecdotes about building trust amid rapid expansion and how finance can integrate into engineering cultures. He reveals Asana’s unique planning strategies and Daffy’s disruptive approach to charitable giving, highlighting the balance between urgency and importance in finance. Throughout the conversation, Ed emphasizes a culture of collaboration and the value of saying yes.
18 snips
Sep 1, 2025 • 54min
The Anti-Exit Strategy: Premji Invest’s Approach to Evergreen Capital (& the Future of CFO Tech)
In this insightful chat, Sandesh Patnam, Managing Partner at Premji Invest, shares his expertise in CFO and enterprise tech investing. He dives into the concept of evergreen capital, emphasizing its role in fostering long-term growth and partnerships. Discussing the impact of AI on finance, he explains how it shifts CFO priorities from speed to strategic insights. Sandesh also highlights the evolving CFO toolkit, the necessity for skilled finance professionals, and the transformative potential of generative AI, positioning it as a landmark change in the industry.
Aug 30, 2025 • 25min
Netskope IPO: S1 Breakdown
Dive into the financial intricacies of Netskope's upcoming IPO as the hosts dissect its impressive annual recurring revenue and growth rate. They explore the company's innovative platform, its security offerings, and how its infrastructure enhances operational efficiency. The discussion also highlights key financial metrics, comparing revenue per employee with peers and analyzing potential market valuations. Additionally, insights on implications for early investors and industry expectations are shared.
Aug 28, 2025 • 1h 12min
From Karaoke With Benioff to the Death of SEO: Alex Konrad on the Business of Media
In this discussion, Alex Konrad, a seasoned tech journalist and founder of Upstarts, shares fascinating insights from his career at Forbes. He recounts memorable moments with tech giants like Marc Benioff and explores how they crafted recognition lists like the 30 Under 30. The conversation dives into the impact of AI on media, the evolving relationship between startups and journalists, and the rise of venture capital firms as media influencers. Alex highlights the significance of authenticity in storytelling and the shifting landscape of content creation.
34 snips
Aug 25, 2025 • 1h 6min
“Stop Trying To Quantify Risk”: Risk Management Wisdom (& Star Wars Analogies) From CISO Andy Ellis
Andy Ellis, former CISO of Akamai and author of 1% Leadership, shares his vast expertise in cybersecurity and risk management. He critiques traditional risk measurement and introduces his 'Pyramid of Pain' framework. Andy discusses the critical dynamics between CFOs and CISOs, the impact of AI on security, and why the roles are converging. Using captivating Star Wars analogies, he illustrates complex risk management concepts and offers insights on strategic security procurement and the importance of evolving leadership skills in this fast-changing landscape.
Aug 23, 2025 • 9min
Are Fractional CFOs a Grift?
The world of fractional CFOs is booming, but is it all just smoke and mirrors? Discover the common complaints and misconceptions surrounding these services. There's a critical need for startups to align their financial needs with the right CFO engagements. A checklist is shared to help founders navigate this complex landscape and avoid potential pitfalls. Plus, learn about an innovative ERP solution that’s transforming finance functions for modern teams. Tune in for insights that could redefine your investment in financial leadership!
Aug 21, 2025 • 1h 21min
From $500M Losses to $500M Profits: The CFO Who Helped Major League Baseball Win off the Field
In this conversation, Jonathan Mariner, former CFO of the Florida Marlins and MLB, shares his insights on the financial rollercoaster of professional sports. He discusses how the MLB transformed its fortunes from $500 million in losses to profits, driven by new financial strategies like a luxury tax. Mariner dives into the evolving value of franchises, the impact of streaming on broadcasting, and the challenges of merchandising and international expansion. His journey from basketball to baseball offers a unique perspective on navigating the competitive landscape of sports finance.
30 snips
Aug 18, 2025 • 1h 6min
Inside the $5B Plaid Deal That Never Happened and the Massive Business Model Transition That Did
In this engaging conversation, Jason Pate, Chief Strategy Officer at Plaid, who played a pivotal role in Visa's $5 billion acquisition attempt, shares insider insights on why the deal fell through amidst pandemic pressures and regulatory scrutiny. He discusses Plaid's transformation into a thriving network business that fuels major fintech players. Jason emphasizes the significance of understanding customer P&L, the evolution of data-driven business models, and the art of negotiation, all while weaving in personal anecdotes and lessons from the world of sports.
5 snips
Aug 16, 2025 • 7min
Emergency Capital Markets Update: Stubhub IPO (Take 2)
This discussion delves into StubHub's upcoming IPO, highlighting the contrast between favorable market conditions and the company's declining performance. Experts analyze the intricate dynamics of timing versus actual results in public offerings. Is market sentiment king, or does performance take precedence? The implications for companies preparing to go public are significant, raising questions about strategy and timing in uncertain financial landscapes.
14 snips
Aug 14, 2025 • 55min
Thinking About Adding Payments to Your Software Product? Listen to This First!
Andrew Mosawi from JMI Equity, an embedded payments expert, discusses key considerations for integrating payments into software products. He emphasizes knowing when you have the 'right to win' and building a strong infrastructure. The conversation covers the evolution of embedded payments, strategic advantages in customer retention, and common pitfalls companies face. Mosawi shares frameworks for sizing market opportunities and insights on revenue forecasting, reminding listeners of the complexities and opportunities within the payments landscape.
