Google’s (Nasdaq: GOOG) recent second-quarter results failed to meet the market’s expectations. The company is feeling the impact of macro-economic conditions as organizations brace themselves for the rising costs amid inflationary pressures.
>>>Sramana Mitra: How were you financing a 15-people operation?
Eytan Bensoussan: A lot of it is personal. We had a very early investor who helped us out. Then it was about making the very tiny amount of money that we had last as if it was 10x the amount. This was about being scrappy, extremely thoughtful, and purposeful. Over time, there wasn’t enough. I had to start taking out of my savings and retirement and putting them into the company. Otherwise, you wouldn’t even have the opportunity to launch.
>>>Sramana Mitra: In these kinds of conversations, I always ask for open problems that new entrepreneurs can solve. One of the problems that come to my mind is, I live a public life. The problem is all these fraudsters are able to access my entire LinkedIn following. I have all these LinkedIn followers who, to some degree, trust me.
I’m just using myself as a proxy. There are lots of people out there on other platforms. If the fraudsters use these brands and start phishing, that’s a very dangerous scenario. We are not doing anything to protect our followers because there’s no solution available. Even if I wanted to, I have no way of protecting my followers from this kind of phishing.
>>>If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
In 2019, French entrepreneur and Toucan Co-founder CEO Charles Miglietti told me the story of how he bootstrapped first to $5 million and then closed a $10 million round.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Charles Miglietti: I’m from France. I grew up in Normandy. I did engineering. I’m married with three kids.
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According to a recent report, the Big Data market is projected to grow at 11% CAGR from $162.6 billion in 2021 to $273.4 billion by 2026. San Mateo-based Snowflake (NYSE:SNOW) is a leading data warehouse solution provider that recently announced its quarterly results.
>>>Sramana Mitra: Which of these channels is producing? Is Google search producing the best?
Eytan Bensoussan: They’re changing almost every month. The growth team is not dogmatic about where we go. We have very specific constraints. We look for where people come in that have the attributes of the highest likelihood to use the product. Then the cost guardrails. That will shift meaningfully as the pricing on these channels puts them out of our budget or keeps them within. A lot of channels where you can put visual collateral help a lot.
>>>Sramana Mitra: How do you resolve that dichotomy?
Bill Bruno: One, you or someone pretending to be you is logging in. Let’s use an example that just happened with one of our customers. They had a situation where there was a large scam attempt where several users were receiving messages that were pretending to be the bank.
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