Share this page!

Jason ✨BeKind✨ Lemkin ⚫️ Profile picture
Twitter logo
10 Feb, 4 tweets, 1 min read
Much talk of moving to Miami

But it seems to me the biggest geo change for “tech” is that every mature, profitable tech company may move to Texas

0% corporate taxes (some additional taxes, but)

See, e.g., DropBox, Oracle, HPE, Tesla, etc.

SF Bay Area may need that even more
With everyone going at least somewhat distributed, Salesforce the latest ...

If the CEO doesn’t want to live in SF & you’re profitable ... why pay highest corporate state taxes in U.S.?

The simplest way to boost earnings is just to move to TX (other states too but TX for many)
With even Salesforce cutting its SF office footprint, it may be that SF again becomes Startup Land

But the mature companies no longer stay in a semi-distributed world
A related post here:

saastr.com/why-so-many-vc…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Jason ✨BeKind✨ Lemkin ⚫️

Jason ✨BeKind✨ Lemkin ⚫️ Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @jasonlk

Jason ✨BeKind✨ Lemkin ⚫️ Profile picture
12 Feb
Perhaps the #1 mistake I see startups make after $1m ARR is hiring a VP of Sales that is good ...

But not good for >their< startup. A mismatch.

And revenue then goes down, not up.

Here’s a 5 part test to make sure that doesn’t happen: 👇🏼
#1. Your VP of Sales should have lots of experience selling at your average ACV.

A great VP of Sales that has mainly sold $100k deals just isn’t going to make it at a $5k ACV start-up … no matter how strong they otherwise are.
Whatever your target ACV is for next year, that should be the #1 area your VP of Sales hire is good at.

Being good at a certain deal size also means you know how to manage the velocity, the pipeline, the opportunities needs, the hiring needs, etc. for that type of sale.
Read 10 tweets
Jason ✨BeKind✨ Lemkin ⚫️ Profile picture
3 Feb
Okta is one of the more interesting Cloud / SaaS leaders, growing from its early roots as one of several Cloud identity vendors, to break-out leader today

It's now approaching $1B in ARR, growing a stunning 43% (!) ... and even accelerating!

5 Interesting Learnings:
#1. Still growing 43% at Almost $1B in ARR.

This really is a stunning growth rate, even faster than Slack, Zendesk, Hubspot & more at $1B in ARR.

It shows the size and scale of Cloud continues to just shock us.
#2. NRR at 123% -- And Going Up. 

Okta's NRR is a solid 123%, and is actually the highest it has been since IPO, and up from 118% a year ago. 

So, no, NRR doesn't have to come down as you scale.  Not at all.
Read 13 tweets
Jason ✨BeKind✨ Lemkin ⚫️ Profile picture
31 Jan
ServiceNow is a $100B (!) SaaS company most of us know only a little about

Its original product manages IT workflows in the enterprise

It's now at $5B in ARR, and >still< growing an incredible 32% YoY!

5 Interesting Learnings:
#1. Still growing 32% at $5B in ARR (!) This is pretty stunning, and justifies the $100B market cap.

Even at $5B in ARR, ServiceNow is still growing at 32% year-over-year.

This is as fast as Slack at $1B ARR.
To do this, ServiceNow has dramatically expanded its TAM, its deal size, and its product footprint over the years.

The "original" ServiceNow couldn't have gotten to $5B in ARR growing 32%.

Still, it shows TAM is what you make it.
Read 14 tweets
Jason ✨BeKind✨ Lemkin ⚫️ Profile picture
30 Jan
The #1 hiring mistake founders make after $1M ARR:

A manager instead of a VP of Marketing
A manager instead of a VP of Product
A manager instead of a VP of Customer Success
A player-coach instead of a true VP of Sales
A product manager for now, not a VP of Engineering
First, the junior hire costs >more<

They aren't accretive. They don't pay for themselves. They don't generate more leads. Close more deals. Ship more features.

A true VP is accretive.
Second, you get burned out

A true VP takes 80%-100% of the function off your plate

Vs. a junior hire just helps you implement stuff

Do not confuse the two
Read 4 tweets
Jason ✨BeKind✨ Lemkin ⚫️ Profile picture
30 Jan
Still think Slack could have been a $100B company
At 40% YoY growth at $1B, Slack is growing much faster than most of its peers at $1B

And looks undervalued now as a result
Just as importantly, Slack's growth at $1B ARR wasn't just off the existing customer base

New customer logos still growing 35% at $1B ARR

Few have this new logo growth at $1B ARR

It shows a long run ahead
Read 5 tweets
Jason ✨BeKind✨ Lemkin ⚫️ Profile picture
29 Jan
On Wednesday, we had SaaStr University: Spring Semester and I led a convo with @kyleporter @SalesLoft on the learnings to the journey from SDR app ... to Unicorn

My Top 5 Learnings from the convo:
#1. Kyle sat with 30+ prospects and customers in the early days, literally next to them.

Many of the early competitors really didn’t understand the needs of SDRs and sales teams enough.

Do you do enough of this?
#2. Salesloft sees platforms that do most of what 1 customer wants, in 1 core vendor, as the future.

We’re seeing more and more of this. But also, more innovation. If nothing else, it raises the bar to break out for new niche vendors.
Read 9 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @jasonlk has new unrolls!

Check out other threads from @jasonlk!

Read all threads by @jasonlk