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Sebastian Siemiatkowski

๐Ÿ‘ค Speaker
1197 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

We used to be 6,000 or over 7,000 people, and we're now less than 3,000.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

And I didn't ask for a single dime to do all this.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

And the reason for that is because I've seen the acceleration of AI, and I know we can ship all these things on the existing organization.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

We've gone from 7,000 people.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

We're now below 3,000.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

We've shrank 50%.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

This is what I signed up for.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

It is stressful.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

It was hard as hell.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

But this is what I wanted.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

The next thing that's going to hit everyone bad is the switching cost of data.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

You should think that cost of creating software is going down to zero.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

And that means that everyone will be able to generate software at any point of time.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

So it is a massive change.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

And I was 100% convicted about this already when I saw this one or two years ago.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

So that's been very, very clear to me.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

So the key thing right now is so far the only thing that's gone down to or not to zero yet, but become extremely much cheaper is the generation of software.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

The next thing that's going to hit everyone bad is the switching cost of data.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

Because so far what you're seeing is you have preparatory data stuck in, for example, the CRM vendor or the other software as a service that you're using currently.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: SaaS is Dead: Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

So you may replicate and build the same dashboard or build the same processes in your own tool, but all your data is in there according to their data model, according to their setup.

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