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What's 🔥 in Enterprise IT/VC #294
Looking for positivity in 📉 - ❄️ Summit + plans for world domination
Each week, I try to find some nuggets of positivity as the markets clearly have much more pain ahead. If one looks at VC twitter, it is all doom and gloom, and yes, things are frozen in some areas of the market post seed and Series A. In addition, from what I hear, there are no acquirers on the horizon yet for startups with inflated valuations as the large publics are still waiting for their own valuations to bottom out before buying anyone else. All that being said, I’ll try to point out some rays of sunshine ahead as it’s too easy to talk about the idea that the world is falling apart.
So this week, let’s talk about the ❄️ Summit. A company that has growth like this should be discussed. I’ve clipped a few slides and if interested in digging deeper, check out the investor day presentation.
Snowflake is still quite bullish on its future, as its continuing to invest in sales growth.
There was a ton of new products launched but the big idea is that Snowflake wants to be a platform for data apps.
Benn Stencil from Mode Analytics wrote a thought provoking post on the launch of Snowflake’s native application framework and the idea of data applications.
A new workload or data wedge for Snowflake is cybersecurity as you can see below.
Interestingly, cybersecurity is the smallest part of its TAM.
Finally, with a verticalized selling approach, it will be interesting to see how partner friendly Snowflake will remain as its customers will want more solution oriented applications vs. core infra and like any true platform, Snowflake will be tempted to build its own for the best and fast growing apps.
As always, 🙏🏼 for reading and please share with your friends and colleagues. Also Happy Father’s Day to all!
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Speaking of Snowflake, 👇🏼 from Bill Gurley on our current times - read 🧵
Solid advice from Jeff at GGV
Huge congrats to Jit Security on the launch of its official beta and $38.5M seed round led by my firm, boldstart, along with Insight Partners, Tiger Global and TechAviv, in partnership with our friends at FXP who are co-founders.🎙️🚀 BREAKING: We are THRILLED TO ANNOUNCE our $38.5M Seed Round together with our PUBLIC BETA launch! We are on a mission to empower devs to own product security through open source security tools in a self-serve platform. bit.ly/jit-launch-cte…
Here’s a blog post I wrote on why we’re so excited about born ⬅️ security and how Jit can help turn security plans in docs and spreadsheets into “security as code.”
🎙️ Enjoyed my chat with @IanAndrewsDC, CMO of Chainalysis where we discuss building companies in an economic downturn, enterprise founders building crypto infra, and what gets me excited about crypto tech. Yep, the market is in complete freefall but still seeing some amazing founders building net new infra - it’s going to be an interesting rest of the year for sure.
“The conversation addresses tokenization versus infrastructure and databases versus blockchain and reviews why Boldstart just raised two new funds to continue to build their crypto portfolio amidst heightened volatility and fear in the current bear market and various outcomes on enterprise blockchain use cases.”
Future of NFTs 🧵 - more than JPGs
❤️ this - in the midst of the doom and gloom, Databricks says hiring 2500 people this year (The Information) - great read on what they look for in people, no job hopping, and getting more stuff done IRL at least 1 day a week
👇🏼 on multi☁️…
Why growth and need for remote dev environments - check out comments