Shardul Shah

What's the hardest thing? It's kind of identifying if you're delusional or you have conviction. And sometimes it can feel like a thin line when you have such deep conviction. In what ways can you be delusional? You can be lazy. If you skip the details, if you don't do the work, if you stop asking questions and are surprised by new information, those are symptoms of being delusional.

When you have a culture, like an index, we invite agreeable disagreements, right? And it can actually steal your conviction. When I have so much respect for Danny, who we talked about, for Jan, for Martin, for Adriana, Nina, Carlos, Vlad. When they disagree, you take it really seriously. You sleep on it. And when your conviction is unchanged... it's crystal clear that you need to go deeper.

When you have a culture, like an index, we invite agreeable disagreements, right? And it can actually steal your conviction. When I have so much respect for Danny, who we talked about, for Jan, for Martin, for Adriana, Nina, Carlos, Vlad. When they disagree, you take it really seriously. You sleep on it. And when your conviction is unchanged... it's crystal clear that you need to go deeper.

When you have a culture, like an index, we invite agreeable disagreements, right? And it can actually steal your conviction. When I have so much respect for Danny, who we talked about, for Jan, for Martin, for Adriana, Nina, Carlos, Vlad. When they disagree, you take it really seriously. You sleep on it. And when your conviction is unchanged... it's crystal clear that you need to go deeper.

That said, with Wiz, when we were doubling down, we took multiple approaches to it. Top down, look, the cloud market is on a path to a trillion dollar transformation. There's probably $300 billion of spend on cloud service providers. That'll get accelerated by AI compute data demands, right? So we're talking about a trillion, potentially a trillion dollar plus market opportunity.

That said, with Wiz, when we were doubling down, we took multiple approaches to it. Top down, look, the cloud market is on a path to a trillion dollar transformation. There's probably $300 billion of spend on cloud service providers. That'll get accelerated by AI compute data demands, right? So we're talking about a trillion, potentially a trillion dollar plus market opportunity.

That said, with Wiz, when we were doubling down, we took multiple approaches to it. Top down, look, the cloud market is on a path to a trillion dollar transformation. There's probably $300 billion of spend on cloud service providers. That'll get accelerated by AI compute data demands, right? So we're talking about a trillion, potentially a trillion dollar plus market opportunity.

In comparable categories, there's 5% to 10% attached to security spend. So the cloud security market could be really significant. If you think about most software, like functional software areas, the market leader commands north of 25% market share.

In comparable categories, there's 5% to 10% attached to security spend. So the cloud security market could be really significant. If you think about most software, like functional software areas, the market leader commands north of 25% market share.

In comparable categories, there's 5% to 10% attached to security spend. So the cloud security market could be really significant. If you think about most software, like functional software areas, the market leader commands north of 25% market share.

So you do the math on how big could the winner be, and you can apply various discounts on penetration rates and time and so on and so forth, but you get to really significant numbers. Number two, you look at public comps, CrowdStrike, $50 billion plus business. Palo Alto Networks, I think now is like $100 billion plus business. Bottoms up, you know the business.

So you do the math on how big could the winner be, and you can apply various discounts on penetration rates and time and so on and so forth, but you get to really significant numbers. Number two, you look at public comps, CrowdStrike, $50 billion plus business. Palo Alto Networks, I think now is like $100 billion plus business. Bottoms up, you know the business.

So you do the math on how big could the winner be, and you can apply various discounts on penetration rates and time and so on and so forth, but you get to really significant numbers. Number two, you look at public comps, CrowdStrike, $50 billion plus business. Palo Alto Networks, I think now is like $100 billion plus business. Bottoms up, you know the business.

In four years, the company has grown faster than any company of all time with unbelievable productivity in different segments, in different geographies. From a team perspective, they've gone from strength to strength, adding most recently Dolly as their COO, who's an absolute beast. And so from every dimension, the story is profound. But I don't think it's obvious, right?

In four years, the company has grown faster than any company of all time with unbelievable productivity in different segments, in different geographies. From a team perspective, they've gone from strength to strength, adding most recently Dolly as their COO, who's an absolute beast. And so from every dimension, the story is profound. But I don't think it's obvious, right?

In four years, the company has grown faster than any company of all time with unbelievable productivity in different segments, in different geographies. From a team perspective, they've gone from strength to strength, adding most recently Dolly as their COO, who's an absolute beast. And so from every dimension, the story is profound. But I don't think it's obvious, right?

Did you get pushback with each round or not? Yes. On what? Price? Progression of company? On every dimension. Like we beat up investment themes, right? So... people, product, technology, competition, traction, market, like every dimension we debate.

Did you get pushback with each round or not? Yes. On what? Price? Progression of company? On every dimension. Like we beat up investment themes, right? So... people, product, technology, competition, traction, market, like every dimension we debate.

Did you get pushback with each round or not? Yes. On what? Price? Progression of company? On every dimension. Like we beat up investment themes, right? So... people, product, technology, competition, traction, market, like every dimension we debate.

Yeah, that's a really good question. You may have the advantage, if I understand correctly, your team's local, right? They're near you. All in person. The advantage of that is like conflict resolution is much easier. You can go for a walk. I really recommend walking meetings, by the way. I learned this from Steve Ward at the time.