Matthew Prince

You know, we haven't had...

I think that that's potentially something that people say.

That hasn't been something that has held us back.

Maybe there would be some marketing benefit from being public.

But again, I think there's actually a responsibility to an organization, to your investors, to create some liquidity.

And I also think that it's pretty amazing that you could have invested in an Apple or a Microsoft or an Amazon company

As a public market investor and had there be significant upside from there, I think this sort of allergy to being a public company is a disservice to public markets generally.

And I think it was probably too easy.

I was a securities attorney back in 2000.

It was probably too easy to become a public company in the late 90s.

It's probably too hard to do it now.

Again, you want to have the right balance between those things, but allowing public market investors and not just venture capitalists or people who are accredited to be able to make angel investments, be able to benefit from the innovation and the wealth that that creates, I think is actually a really important thing for markets generally.

Yeah.

Yeah.

So, I mean, I think great SaaS companies have three characteristics.

They have a low cost of customer acquisition.

They have low churn.

and they have the ability to expand revenue from those existing customers.

I'd say we're really good at the first two things.

Our cost of customer acquisition is remarkably low.