One of the biggest changes since we started SaaStr is the massive number of SaaS veterans out there. The decade-long run of next-generation SaaS start-ups, and the explosion since 2015 of SaaS unicorns and decacorns has led to a lot of experienced execs on the market. This is great. I wish there had been even a fraction of this many SaaS execs when I was getting going.
- But many experienced folks just don’t want to do it all again. Because SaaS is hard. Each quarter, the bookings plan starts at $0 again. The lead commit goes up each quarter and every year. The bar to grow even faster has been raised. And as time goes not, not everyone wants to do all of that again.
- So it’s natural to want more of a team to do it for you. To hire 3-4 folks to do what you used to do mostly yourself. To want a head of sales operations and a director of sales to help carry the load not later … but on Day 1. To not have to manage any customers yourself in customer success, and instead be a strategist. To hire a head of demand gen to get those leads for you, so you don’t have to get all those leads yourself this time.
- In many cases this is a good thing. When you are ready to really scale — say $8m-$10m+ in ARR, usually — there is now a whole surplus of candidates who will come in and build a team for you. Often in just a month or two, if they are good at recruiting and have kept their network warm (as the best leaders too). These days, the top VP candidates already are keeping 3-4 folks warm for their team. They know they’ll need them for their next role.
- And you’ll need a true team with management layers in each functional area after $8m-$10m ARR. You can’t scale after that without one. Your marketing team will need not just a VP, but a head of demand gen, a head of content marketing, a head of field (such as it is now), and even marketing ops. You’ll need 5 folks in marketing at $10m+ ARR, not 1. You’ll need not just a VP of Sales, but also a head of sales ops, a head of SDRs, a head of East Sales and a head of West Sales, a head of Business Development, etc. as you race past $10m+ in ARR.
The mistake though I see a lot is hiring this SaaS Veteran That Needs a Team Too Early. There are so many great experienced SaaS execs out there, you may want to hire one you fall in love with at $2m-$3m-$4m ARR. That has the experience, the insight, and even the intuitive deep connection to your product that is so appealing.
But if she or he won’t do the work herself, are you ready to sign up for not just 1 hire — but 5+? Do you have the budget? And do you have the budget for all the soft and hard costs associated with those hires?
Most of you don’t. Not yet. So make she your dream VP can really do most of it herself in the early days. Or at least, with just 1 or 2 key hires. Push here. Make sure they will really do whatever work you need them to do on the budget you really have.
Because I see too many CEOs fall in love with an exciting VP that in the end has done it all herself before, but today, doesn’t want to anymore. Which is fair. It’s just, unless you have the scale, the capital and the infrastructure to support an entire team now … that great VP. Won’t be great for you.
And she or he will fail, leave, or both.
Companies Owned by Facebook
Facebook Inc. is the largest social networking platform in the whole world. It got founded by Mark Zuckerberg and his roommates in 2004. The company has grown globally to rocketing 2.5billion users and a market worth of $479.2 billion. The company had an astounding figure of $18.5 billion net in 2019 and revenue of $70.1 billion. Facebook is one of the best helpful platforms to share your posts and provide new ideas. Writing can help you to get your own audience, as was noted by US Essay Writers.
Since its inception, the platform has grown to incorporate messenger services, media sharing, and augmented services. Acquisitions have set the record straight for growing up the platform and steering it to open up new business ventures and see the revenue rise to higher levels. The strategy that Facebook has applied is to buy off competition before they become massive in the market.
The company has faced multiple criticisms that have led to the Federal Trade Commission step in to demand information on unreported purchases made by the platform. The following are the platform’s largest acquisitions.
- Business type: Photo and video-sharing platform
- Cost: $1 billion
- Date: April 9, 2012
Instagram got launched in 2010. Users can upload photos and edit them in the same app. It was an independent company up until 2012 when Facebook bought it. Over time, estimates indicate that the app drives in more revenue than Facebook. For the price paid to purchase Instagram, it is best to say that Facebook is willing to pay hefty amounts to buy young companies.
- Business type: Mobile messenger service
- Cost: $19 billion
- Date: February 19, 2014
Whatsapp is an app that supports messenger and calling services and is available worldwide. The app got launched in 2009, and since then, it has allowed its users to send texts and media without incurring any cost. Facebook acquired the app when it reached close to 400 million users every month hence becoming a rival to Facebook. At the time of purchase, the revue of the app had peaked $1.5 billion.
- Oculus VR
- Business type: Virtual Reality tech company
- Cost: $2 billion
- Date: March 25, 2014
A few weeks after buying Whatsapp, Facebook wasted no time buying off Oculus VR, which was the company responsible for creating virtual reality hardware and software. The company was started in 2012 and is widely known for the gaming headgear named Oculus Rift. Since the purchase, the company has made some acquisitions of its own like the Surreal Vision that maps out 3D scenes.
The purchase of Oculus VR by Facebook plummeted it to the market.
- Business type: Mobile web analytics
- Cost: $100-200 million
- Date: October 2013
The company got founded in 2010. It is an Israeli company, and it performs web analytics on mobile apps to check customer usage. It is an estimated figure that Facebook used to acquire the company in 2013. It got purchased as an independent company. Even though it is not the largest acquisition yet, Onavo helped Facebook select the companies to get bought. It has, over the years, distinguished as spyware, which forced the platform to withdraw it form apple and android devices.
- Business type: Messaging service
- Cost: Undisclosed
- Date: March 2011
Beluga got founded in 2010. A year later, Facebook bought it when the company was struggling with startup fundraising. The purchase led to making it the largest social messenger platform. The process helped Facebook buy off rival and knock out competition.
Adrian Lomezzo is a freelance writer. Writing always was a big passion for him. As a content manager, he has developed in promoting different sites. After a while, Adrian has been sharing his own experience related to marketing with students for 5 years. Later, Adrian decided to become a freelance writer. To his point of view, he should make students develop in this sphere and make the projects by themselves.
Federal intelligence agencies used “cell phone cloning attack” to intercept and spy on Antifa and BLM protesters’ communications, new report finds
Back in June, we wrote about how the Federal Bureau of Investigation (FBI) used open-source intelligence and Internet history to track down a protester who set cop cars on fire. At the time, the FBI tracked down a protester who set cop cars alight by tracing the custom T-shirt she wore at a Philadelphia. Lore-Elisabeth Blumenthal was tracked down by the FBI using her peace tattoo and Etsy and LinkedIn profiles.
Now, the U.S. federal intelligence has taking surveillance to the next level. It turns out that DHS and other federal agencies have been using sophisticated phone “cloning” hardware to impersonate the phones of Antifa and BLM extremists in order to eavesdrop on their phone calls and texts, according to a bombshell report from the Nation. Through this technology, the federal agencies were able to assemble a complete organizational structure and hierarchy map of the leaders involved in the day-to-day operations of these two organizations.
According to the report, for months US federal intelligence officials have been quietly identifying the participants and leaders of both Antifa and BLM organizations, including wealthy donors who are funding these operations. In a new report obtained by Ken Klippenstein for The Nation, U.S. federal agencies including the FBI and the Homeland Security Department (DHS) tapped protesters’ phones in Portland. So far, DHS has declined to comment about the full extent of its intelligence operations in Portland. Below is how the Nation describes the surveillance:
A current DHS official described a colleague with expertise in electronic surveillance who was being deployed to Portland. But for what purpose? “Extracting information from protester’s phones,” the DHS official said. While in Portland, an interagency task force involving DHS and the Justice Department used a sophisticated cell phone cloning attack—the details of which remain classified—to intercept protesters’ phone communications, according to two former intelligence officers familiar with the matter.
Cell phone cloning involves stealing a phone’s unique identifiers and copying them to another device in order to intercept the communications received by the original device. The former intelligence officials described it as part of a “Low Level Voice Intercept” operation, declining to go into further detail—one of them citing the sensitive nature of the surveillance tool and the other an ongoing leak investigation within I&A [Intelligence & Analysis].
Per the Nation, unlike more sensitive, classified intelligence, the journalist reports were based entirely on publicly available information. And while privacy rules generally prevent “US persons” from being the subject of intelligence assessments, it is still not uncommon. “That kind of shit happens all the time,” the former intelligence officer explained.
If the Nation’s report is true, the agencies’ actions may be in violation of Protesters’ First and Fourth Amendment rights. Intercepting protester’s communications is something that requires a whole lot of probable cause. In addition, engaging in sophisticated cloning attacks is not a”Low-Level Voice Intercept.”
Elon Musk says Tesla may be overvalued today but thinks the company will be worth more in 5 years
On May 3, we wrote about Tesla CEO Elon Musk after he tweeted this: “Tesla stock price is too high imo.” Immediately after his tweet, Tesla stock fell more than $40 to a session low of $717.64, before falling even more. Since then Tesla has rebounded and more than double in value.
More than a year later, Musk is back with another prediction. In an interview with Kara Swisher for a New York Times podcast, Musk said he thinks Tesla may be overvalued today but thinks it’ll be worth more in 5 years. Tesla’s stock has already risen more than 400% this year alone.
“Some critical mass of the market has concluded that Tesla will win, I guess,” said Musk on the stock’s increases. “I’ve gone on record already saying the stock prices have been high, and that was well before the current level. But also if you ask me, do I think if Tesla will be worth more than this in 5 years? I think the answer is yes.”
In May, Musk tweeted that Tesla’s stock price was “too high,” which sent it down 12% that day. However, since he made those remarks, shares are up almost 200%.
In the wide-ranging interview, Musk also said, “Tesla at this point is not in mortal danger, as it was, say, three years ago.” Musk added, “The thing that Tesla has been able to achieve is get to volume manufacturing and have sustainable positive free cash flow. From a car company standpoint, that is the real achievement of Tesla.”
“Tesla should be measured by how many years we accelerate the advent of sustainable energy,” said Musk.
This is not the first time Musk has stirred controversy on social media. In September 2018, Musk was sued by the U.S. Securities and Exchange Commission for a tweet claiming that funding had been secured for potentially taking Tesla private.
Two days later, Musk reached a settlement with the SEC, without admitting or denying the SEC’s allegations. As a result, Musk and Tesla were fined $20 million each, and Musk was forced to step down temporarily as Tesla chairman, while remaining Tesla’s CEO.
Also in August 2018, Musk has faced problems from the Security and Exchange Commission (SEC) for tweeting about the company’s stock and agreed to submit public statements for vetting. Musk also said he was “selling almost all physical possessions” and to give people back their freedom, presumably referring to shelter-in-place orders.
You can listen to the entire interview on Spotify.
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