BUY VANTA

“What are investors betting on? They're betting on, like, will anyone churn off of Equifax because this happens. And I think the cynical but correct take is no. Sometimes because you're, like, you know, Equifax or Delta. You're not, like, am I gonna stop you know, like, I'm not gonna stop playing Delta, especially ten to fifteen years into this where you're, like, oh, another one. I'll add an eighth credit monitoring service.”

“Etsy, great example. You're like, cofounder CEO spent 80% of his time for kind of years, like, making people desks because they have this lovely cultural thing of when you joined, you were getting, like, homemade bespoke desks because they sold homemade bespoke things. And, like, Nav, you're like, 80% of a CEO sign is making data, and the business is on the phone. You can be making desks for people. It doesn't matter. And, like, if you don't have that, you know.”

“We had the spill board. It was great. For many years. I used to joke that, we've had it locked up for years. Turns out we didn't, and I'm an idiot. The agency we worked with, one oh, we should have caught this. Our our contract was just written in crayon. And we got lot Blockadee last about our billboard. We've introduced them to lots of startups. You know, some of those startups were also buying with that agency. The agency went to them, and I was like, oh, we have this great inventory. Would you like it? And then we found out.”

“Our our first salesperson, Eric, who sold the company, really wanted to advertise, I think, on This Week in Startups. And I thought it was silly because my model is, like, the only, you know, companies that advertise on podcasts are, like, founders who wanna hear about themselves. He came to me and was like, I wanna spend $60,000 on this ad. And my deal with him was like, fine, but you gotta sell four more Vantas. Because Vantas basically cost $15,000. And the next month, he sold, like, 34 more Vantas because of the podcast ads.”

“What I have heard is, phone calls work in a way that I did kind of wouldn't expect. For now. Right? Until But now with your emails, like yeah. A million AI bots. And I mean, like, how many chat GPT written emails do you get you know, in your inbox a day. But, outbound phone calls are currently working.”

“It feels like the data you have of anonymized prior audits is an incredibly powerful network effect that cannot be replicated because, again, it doesn't exist on the public Internet. Like, the AIs don't have it available to them through just private data. And just like, you know, Stripe's an advantage because we have all the fraud data. We know what, like, a normal buying pattern looks like versus not.”

“It is one of those where you're, like, where, vitamin and pain killer, I think. Right? And I think compliance is SOC two is a word that no one knows what the heck it means until they deeply know when then they want this. And so it's kind of like and one of the original, like, founding hypotheses of the company is if you wanna start a security company for start ups, you should actually start a compliance company. Because your customers never ask you for security, but they do ask you for compliance.”

“GitHub gets 92% of all of the questionnaires they receive, answered through Vanta. And so you're, like, not at a 100, but you're, like, it's GitHub. They have AI tools. Like, they have Copilot. It's a lot. And so we are absolutely seeing this. Like, the models are definitely good enough.”

“I think the second part is market sizing is bullshit. You know, you can, like, be as academic or whatever, strategery ish, as you want about it. And, like, the market size today is only a predictor of the market size today. And I think I, like, deeply learned that, because if you, like, you just if you looked at the SOC two market in 2018, my best estimate was there was $10,000,000 spent globally, and you would never start a startup on that. But the theory of Vanta was, like, well, if we can make this thing easier to get and, like, take down the cost dollars for really time, more people will get them.”

“There is a, like, someone said this better for me than me. But, like, there is a totally a truth seeking piece of it, or just sometimes you can bend reality to your will. But often, like, reality is reality, and you gotta, like, embrace it and figure out how to work around it. Like, reality, sometimes it's an immovable object.”