David George

One of our folks in IR asked me yesterday, why haven't we done a buyout fund?

I think culturally, it's totally different than what we do.

All that we want to do and all that we stand for is helping the next generation of companies go beat the incumbents.

So culturally, buying the incumbent and trying to make them last as long as possible and squeeze as much as they can out of their customers or whatever it may be, it's just culturally antithetical to what we do.

Business model shift is a super powerful thing that's very hard for incumbents to react to.

That's part of what is so exciting about the customer support industry in Decagon.

The odds are so stacked in their favor because the business model is going to be very hard for incumbents to react to.

And it's on the customer side, better, faster, cheaper, fully better, faster, cheaper by a lot, by an order of magnitude in each case.

So business model shift is one.

The two simple components that I'm looking for, which generally we're not really seeing yet, is completely reimagined UI and then completely new sources of data.

So we're large investors in Databricks.

We're very optimistic about the data layer.

I think they'll have some success in enabling applications built on top.

But the UI UX thing and the data thing paired with a business model shift, I think are what are going to give the startups the best chance against the incumbents.

And the more dramatic the shift in those, the harder it's going to be for the incumbents.

So take Salesforce.com.

I use this as an example.

It's a good company.

I never thought it would be as big as it is.

It's a good company.