Joe Schmidt

No one likes doing like these crazy tasks inside of Workday.

No employee likes interacting with Workday.

No one wants to go into this portal.

And so if you can go out there and solve these problems, there's a huge pie to go after.

If you think about where you have to go capture these customers, if someone has already become a customer of Workday or already become a customer of ServiceNow or Salesforce, it is so hard to rip them off.

That's why these gross dollar retentions are what they are.

Like they're the gold standards for a reason.

We're seeing the like cracks in the most defensible businesses in the world.

And it's a really exciting time and the race is on.

Yeah, no, thanks for having me on.

Excited to be here.

Yeah, it's funny calling them eulogies.

And I think that this piece was intended to be much more balanced than maybe people have taken it to be.

But I think that, you know, if you just think about where we are in the cycle right now with enterprise software, a lot of the biggest businesses that are out there today

were kind of built in the last kind of technology shift, which was obviously the shift from on-prem to cloud.

And that's really the big opportunity for most companies that are being built.

Selling to big enterprise buyers is basically adopting some big shift and then building their platform around it.

Once those kind of core primitives have been set, you know, basically these markets get

end up moving into a different type of innovation, which ends up being like point solutions that are built on top of some kind of core backend system.

And the reason for that is if you think about like what these systems are actually doing, if you take Workday, obviously it codifies like kind of your HR business processes and a bunch of business logic internal to your company inside of like one relational database.