David Pierce

It's bundling and unbundling. And I think we, we were in a really intense bundling phase for a really long time. And then the pandemic happened and we unbundled so fast because all of a sudden everybody was at home. Everybody had new software needs and everybody needed them like tomorrow. And so everybody went like literally tomorrow.

It was like, oh, I'm not going to the office again for four years. I need new kinds of software. And so everybody just went out and looked for, okay, we need a new way to do collaborative design. We need a new way to do video calls. And we can't wait for someone else to attach it to the contract that we have. We're just going to go sign up for the thing that everybody likes that's the best.

It was like, oh, I'm not going to the office again for four years. I need new kinds of software. And so everybody just went out and looked for, okay, we need a new way to do collaborative design. We need a new way to do video calls. And we can't wait for someone else to attach it to the contract that we have. We're just going to go sign up for the thing that everybody likes that's the best.

It was like, oh, I'm not going to the office again for four years. I need new kinds of software. And so everybody just went out and looked for, okay, we need a new way to do collaborative design. We need a new way to do video calls. And we can't wait for someone else to attach it to the contract that we have. We're just going to go sign up for the thing that everybody likes that's the best.

That's why Zoom got huge, even though other video tools existed, right? That's why things like Figma started to take off, because people just needed these new workflows. And so there was this massive rush towards these so-called best-of-breed things, and Then what obviously started to happen is the big companies started to tack that stuff on Microsoft builds teams, Google invests in meat.

That's why Zoom got huge, even though other video tools existed, right? That's why things like Figma started to take off, because people just needed these new workflows. And so there was this massive rush towards these so-called best-of-breed things, and Then what obviously started to happen is the big companies started to tack that stuff on Microsoft builds teams, Google invests in meat.

That's why Zoom got huge, even though other video tools existed, right? That's why things like Figma started to take off, because people just needed these new workflows. And so there was this massive rush towards these so-called best-of-breed things, and Then what obviously started to happen is the big companies started to tack that stuff on Microsoft builds teams, Google invests in meat.

And so zoom becomes less competitive in its own way. But what's wild to me is the, this company Okta, which does basically like log in and a bunch of other stuff, like you're talking about, they started as a way to log into services. And now there's like a whole giant backend authentication stuff that they do. Uh, they do this really good serve way called businesses at work every year. And.

And so zoom becomes less competitive in its own way. But what's wild to me is the, this company Okta, which does basically like log in and a bunch of other stuff, like you're talking about, they started as a way to log into services. And now there's like a whole giant backend authentication stuff that they do. Uh, they do this really good serve way called businesses at work every year. And.

And so zoom becomes less competitive in its own way. But what's wild to me is the, this company Okta, which does basically like log in and a bunch of other stuff, like you're talking about, they started as a way to log into services. And now there's like a whole giant backend authentication stuff that they do. Uh, they do this really good serve way called businesses at work every year. And.

The wildest thing in, I believe it was the 2023 one, was that half the people who pay for Microsoft Office also pay for Google Workspace. And half the people who pay for Microsoft Office also pay for Zoom. And so we're in this place where...

The wildest thing in, I believe it was the 2023 one, was that half the people who pay for Microsoft Office also pay for Google Workspace. And half the people who pay for Microsoft Office also pay for Zoom. And so we're in this place where...

The wildest thing in, I believe it was the 2023 one, was that half the people who pay for Microsoft Office also pay for Google Workspace. And half the people who pay for Microsoft Office also pay for Zoom. And so we're in this place where...

We are very much in the sense of like, you sort of need the basic bundle, but then everybody is still in this moment, willing to spend the money on at least like a handful of the tools that work around it. So right now, Microsoft is trying to keep building the walls around its bundle.

We are very much in the sense of like, you sort of need the basic bundle, but then everybody is still in this moment, willing to spend the money on at least like a handful of the tools that work around it. So right now, Microsoft is trying to keep building the walls around its bundle.

We are very much in the sense of like, you sort of need the basic bundle, but then everybody is still in this moment, willing to spend the money on at least like a handful of the tools that work around it. So right now, Microsoft is trying to keep building the walls around its bundle.

And you're seeing the same from a company like Salesforce, which bought Slack so that you spend more time in the Salesforce universe. But these individual apps that exist around them, in many cases, are just so much better that no one else has been able to catch up to them yet. Meet is better. Teams is better. People still really like Zoom. And I don't think that's changing anytime soon.

And you're seeing the same from a company like Salesforce, which bought Slack so that you spend more time in the Salesforce universe. But these individual apps that exist around them, in many cases, are just so much better that no one else has been able to catch up to them yet. Meet is better. Teams is better. People still really like Zoom. And I don't think that's changing anytime soon.

And you're seeing the same from a company like Salesforce, which bought Slack so that you spend more time in the Salesforce universe. But these individual apps that exist around them, in many cases, are just so much better that no one else has been able to catch up to them yet. Meet is better. Teams is better. People still really like Zoom. And I don't think that's changing anytime soon.

Mm-hmm.