Eoghan McCabe

There will be IPOs, there will be liquidity, maybe on private markets. M&A will warm up again. There's a lot of money in PE. It'll have to unstick itself. But admittedly, we're currently in an awkward patch where a lot of people are asking themselves, does this VC model even make sense? I mean, Intercom is a 13-year-old company. When people were invested

There will be IPOs, there will be liquidity, maybe on private markets. M&A will warm up again. There's a lot of money in PE. It'll have to unstick itself. But admittedly, we're currently in an awkward patch where a lot of people are asking themselves, does this VC model even make sense? I mean, Intercom is a 13-year-old company. When people were invested

Investing in Intercom, they thought maybe they'd get liquidity in, what, eight years? And we are by far not the only company of that tenure. So the game has changed. Do you think the VC model still works? The amount of capital at an early stage available today suggests to me that that's got to be a crappy end of the market for VCs. It's just a raw commodity now.

Investing in Intercom, they thought maybe they'd get liquidity in, what, eight years? And we are by far not the only company of that tenure. So the game has changed. Do you think the VC model still works? The amount of capital at an early stage available today suggests to me that that's got to be a crappy end of the market for VCs. It's just a raw commodity now.

Investing in Intercom, they thought maybe they'd get liquidity in, what, eight years? And we are by far not the only company of that tenure. So the game has changed. Do you think the VC model still works? The amount of capital at an early stage available today suggests to me that that's got to be a crappy end of the market for VCs. It's just a raw commodity now.

Early stage VC, I don't know how you make a return there.

Early stage VC, I don't know how you make a return there.

Early stage VC, I don't know how you make a return there.

We forced more and more customers to talk to sales. It certainly increased ACVs, but it actually cut out a phenomenal amount of growth in SMBs and small customers. And those small customers were actually the lifeblood for our sales customers. They just needed some time to grow. That was a really, really, really, really big mistake. Our total customer count started to shrink. That's one example.

We forced more and more customers to talk to sales. It certainly increased ACVs, but it actually cut out a phenomenal amount of growth in SMBs and small customers. And those small customers were actually the lifeblood for our sales customers. They just needed some time to grow. That was a really, really, really, really big mistake. Our total customer count started to shrink. That's one example.

We forced more and more customers to talk to sales. It certainly increased ACVs, but it actually cut out a phenomenal amount of growth in SMBs and small customers. And those small customers were actually the lifeblood for our sales customers. They just needed some time to grow. That was a really, really, really, really big mistake. Our total customer count started to shrink. That's one example.

Others were pricing. We got greedy. We wanted people to sign big contracts up front rather than allow them to expand into them. So it was just going against all our intuition. Bad commercialization. That was the main thing. Do we want to talk about the internal changes at Intercom about restarting the startup and the culture? Yeah. Companies are this deeply interconnected system.

Others were pricing. We got greedy. We wanted people to sign big contracts up front rather than allow them to expand into them. So it was just going against all our intuition. Bad commercialization. That was the main thing. Do we want to talk about the internal changes at Intercom about restarting the startup and the culture? Yeah. Companies are this deeply interconnected system.

Others were pricing. We got greedy. We wanted people to sign big contracts up front rather than allow them to expand into them. So it was just going against all our intuition. Bad commercialization. That was the main thing. Do we want to talk about the internal changes at Intercom about restarting the startup and the culture? Yeah. Companies are this deeply interconnected system.

You know, you can't change one thing without changing another. You can't pick and choose. It's not an a la carte menu. It's a deeply interconnected system. We needed to totally change our values, make clear that hard work and a focus on our mission was key, was crucial. I gave permission to people to act in quick and scrappy and messy ways. I rolled up my sleeves and got involved myself.

You know, you can't change one thing without changing another. You can't pick and choose. It's not an a la carte menu. It's a deeply interconnected system. We needed to totally change our values, make clear that hard work and a focus on our mission was key, was crucial. I gave permission to people to act in quick and scrappy and messy ways. I rolled up my sleeves and got involved myself.

You know, you can't change one thing without changing another. You can't pick and choose. It's not an a la carte menu. It's a deeply interconnected system. We needed to totally change our values, make clear that hard work and a focus on our mission was key, was crucial. I gave permission to people to act in quick and scrappy and messy ways. I rolled up my sleeves and got involved myself.

I set this project called Project 52, where I gave us 52 weeks to reinvent the company. I spoke to the company every single week. I just created this very high degree of intensity.

I set this project called Project 52, where I gave us 52 weeks to reinvent the company. I spoke to the company every single week. I just created this very high degree of intensity.

I set this project called Project 52, where I gave us 52 weeks to reinvent the company. I spoke to the company every single week. I just created this very high degree of intensity.