A brief talk by Jason M. Lemkin discussing how certain SaaS companies that sell to 'the real world' (non-tech industries) have remained resilient during recent downturns. He highlights Toast's record quarter despite some seat contraction and discusses Samsara's earlier growth slowdown (around Q2 2022) as an example of a high-growth company normalizing.
If you look at SaaS, companies that sell to the real world, that don't just sell to other tech, in many cases, they didn't miss a beat. I mean, Toast had a little bit of impact, but look at Toast. Toast just had a record quarter. They did see some seat contraction, but overall the business did not miss a beat any of the last quarters because Monday doesn't sell. Only 30% of Mondays to tech for project management and CRM. 70%, as he said, is to churches and real estate and other normal businesses. I picked two that are somewhat impacted and I picked Samsara, which, if you don't know, I mean, at a, at a, at a specific level, it automates fleet management and more. And, and it's interesting that you can see it's a hot one. We've written them up at Sastra since the beginning when people didn't know about it. We had the Chief Product Officer here yesterday, but you can see actually they hit their low point a little earlier than we saw with Zoom and Zoom Info and others. They hit it actually in Q2 of 2022, where this high flyer's growth sort of came down to earth. They.
