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The Wave of AI Agent Churn To Come: Prompts Are Portable

I was in a board meeting last week for a breakout AI B2B leader at $100m+ ARR and the team was excited … but stressed. Why? So many of their largest customers were happy to sign relatively large checks for their AI Agent. Six figures. Some even seven. The product was...

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The 2025 IPO Class, Graded. Only 3 of 13 Are Above Water

Everyone said 2025 was the year the IPO window reopened. And technically, it did. 174 companies raised over $31 billion in the first half alone — the highest since 2021. But here's what nobody wants to talk about: most of the B2B and tech IPOs from 2025 are now...

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What’s It Really Like to Be CEO of a Startup

Dear SaaStr: What's It Really Like to Be CEO of a Startup? Let me just throw out a few things I’ve learned that being a CEO of start-up isn't, or isn't as you'd expect: It isn’t glamorous until you are At Scale and Hot, at the very minimum. At $10m-$20m+ in revenues,...

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Blog Posts, Scale

The 2025 IPO Class, Graded. Only 3 of 13 Are Above Water

Everyone said 2025 was the year the IPO window reopened. And technically, it did. 174 companies raised over $31 billion in the first half alone — the highest since 2021. But here’s what nobody wants to talk about: most of the B2B and tech IPOs from 2025 are now trading below their IPO price. Several…
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Blog Posts, Q&A

What’s It Really Like to Be CEO of a Startup

Dear SaaStr: What’s It Really Like to Be CEO of a Startup? Let me just throw out a few things I’ve learned that being a CEO of start-up isn’t, or isn’t as you’d expect: It isn’t glamorous until you are At Scale and Hot, at the very minimum. At $10m-$20m+ in revenues, maybe. Maybe not even until pre-IPO….
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