I basically entirely buy the thesis. (Disclaimer: I’m an LP in TinySeed, a fund which runs on an extremely similar thesis. To extent you buy that it is an asset class, this is like “I like stocks.” “What a coincidence, I also like stocks.” “Do we like the same stocks?” “Maybe!”)
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A savvy person of my acquaintance suggested a few years ago that there were 30k SaaS firms worldwide. That number is certainly outdated now. The crazy idea here is that they should eventually be approximately as common as mid-sized apartment buildings.
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They already are, and will continue to be, much more geographically distributed within and between countries than venture investment traditionally is. They will eat the remote work/employment opportunity a lot faster than AppAmaGooFaceSoft and upcoming similar companies will.
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They’re also going to be a large enough ecosystem to support many businesses built to serve their needs, including probably at least a few extremely material ones.
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(And you’d best believe Stripe intends to continue hugging software entrepreneurs tightly.)
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End of conversation
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Tyler’s a badass and we love being part of the
@earnestcapital portfolioThanks. Twitter will use this to make your timeline better. UndoUndo
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that’s an extraordinarily well thought out and written piece,
@tylertringas
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nice memo
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"Sell shovels"
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Oo, I'm relevant! 99% of what my agency does is vertical specific b2b. HR, restaurants, preschools, accountants, etc.
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