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What's 🔥 in Enterprise IT/VC #275
☁️ is still on 🔥 + what to look for in journey from OSS project to company
The ☁️ continues to be on 🔥. Eric Savitz from Barron’s summed it up best this week:
You can’t overstate the importance of cloud computing: One of the most important themes from the last two weeks is that the cloud businesses at Amazon, Microsoft, and Alphabet just continue to get better. All three turned in better-than-expected results. Microsoft reported 46% growth for its Azure business in the December quarter—and projected even faster growth in the March quarter. Google Cloud revenue grew 45% for the second straight quarter. And AWS helped offset softness in Amazon’s core e-commerce business, with revenue growth improving to 40% from 39%, accelerating for the fourth-straight quarter. The cloud arms of these three giants are the best enterprise computing businesses in the market.
It’s not just last quarter but also contract backlog that signals continued strength for the ☁️.
For many years, infrastructure investing was such a backwater, unsexy area to invest and now we have tweets like below going viral.
Founders, ignore the markets as great companies will continue to get funded at premium valuations as the flight to quality is on. Keep your heads down, focus on your users, and keep building. And also talk to 🐅 as it just raised $11B for its new fund.
Speaking of users, I was recently on the Console.dev podcast talking about day one of an open source project and the need for founders to start with an atomic unit of one user, how to make that one user’s life infinitely better with their product, before expanding to 10 and then 100 and 1000 (clip below). Too often founders rush to amp their numbers up and ignore the quality, the understanding of who is using their project and why.
Your next investors should also appreciate and understand the patience needed and the focus on user stories versus the overall number of users if they are going to be your right next partner.
Finally, for those founders who are sitting on a huge balance sheet of cash after having raised a preemptive round of funding, remember this:
As always, 🙏🏼 for reading and please share with your friends and colleagues. Let’s go ☁️!
Totally agree on this…
Always remember this - build product for users first but they aren’t necessarily the buyers
🎧Listen here on the console.dev podcast: Devtools investing, with Ed Sim (Boldstart) - S02E05
Docker is back…but big question is can it continue to grow from this $50M ARR base as much of its revenue is likely from backlog from not charging users to begin with
Yes, you can accelerate growth even when over $200M ARR
Why this crypto winter is different than before…CNBC
The 20 Coolest Cloud Monitoring And Management Companies Of The 2022 Cloud 100 (CRN) -
Congrats to Spectro Cloud (a port co)
“Spectro Cloud launched version two of its enterprise Kubernetes management platform. The update came with enhanced cost visibility, insight into cluster health, improved role-based access control and other features. The company also unveiled new support for public cloud clusters.”
NFTs aren’t just jpegs…great 🧵
🧵 on Helium, a decentralized wireless infrastructure, which is experiencing tremendous growth - infra can be owned by the people with incentives that make sense
Google cloud going after crypto infra companies with new dedicated digital assets team
Scary and fascinating read on “What Happens When Russian Hackers Come for the Electrical Grid” (Bloomberg)
“Rogers told lawmakers that hackers had been breaking into U.S. power utilities to probe for weaknesses and that Russia had been caught planting malware in the same kind of industrial computers used by power utilities. “All of that leads me to believe it is only a matter of when, not if, we are going to see something dramatic,” he said.”
Sorry…had to share more Miami 🌴