Really good and happy to find your substack (had no idea - put some links in your twitter!) 2 "yes and" takes
1. Market is pricing SAAS down for rational reasons. All of this = "more execution and business risk + peak margins facing a re-investment cycle"
2. The right senior leadership to face this sort of challenge? An product-first CEO and senior team that deeply understand the technology architecture. Also comfort with long term investment and potential disruption - possibly at the cost of near-term sales slowdown.
The wrong leadership? A sales-first senior team that takes engineering for granted. Chasing the next revenue dopamine hit and assuming the future will look much like the past.
How many SAAS companies have the "right" leadership?
SNowflake replacing "sales" Slootman with a "product" CEO was a good first step. Stock is getting punished, but they are more likely early warning canary in the coal mine than wrong.. (no position or agenda in SNOW, just observing)
Hello Buck,
I hope this communique finds you in a moment of stillness.
Have huge respect for your work and reflective pieces.
We’ve just opened the first door of something we’ve been quietly crafting for years—
A work not meant for markets, but for reflection and memory.
Not designed to perform, but to endure.
It’s called The Silent Treasury.
A place where judgment is kept like firewood: dry, sacred, and meant for long winters.
Where trust, patience, and self-stewardship are treated as capital—more rare, perhaps, than liquidity itself.
This first piece speaks to a quiet truth we’ve long sat with:
Why many modern PE, VC, Hedge, Alt funds, SPAC, and rollups fracture before they truly root.
And what it means to build something meant to be left, not merely exited.
It’s not short. Or viral. But it’s built to last.
And if it speaks to something you’ve always known but rarely seen expressed,
then perhaps this work belongs in your world.
The publication link is enclosed, should you wish to experience it.
https://helloin.substack.com/p/built-to-be-left?r=5i8pez
Warmly,
The Silent Treasury
A vault where wisdom echoes in stillness, and eternity breathes.
Aged well
Good stuff, thank you 💚 🥃
Really good and happy to find your substack (had no idea - put some links in your twitter!) 2 "yes and" takes
1. Market is pricing SAAS down for rational reasons. All of this = "more execution and business risk + peak margins facing a re-investment cycle"
2. The right senior leadership to face this sort of challenge? An product-first CEO and senior team that deeply understand the technology architecture. Also comfort with long term investment and potential disruption - possibly at the cost of near-term sales slowdown.
The wrong leadership? A sales-first senior team that takes engineering for granted. Chasing the next revenue dopamine hit and assuming the future will look much like the past.
How many SAAS companies have the "right" leadership?
SNowflake replacing "sales" Slootman with a "product" CEO was a good first step. Stock is getting punished, but they are more likely early warning canary in the coal mine than wrong.. (no position or agenda in SNOW, just observing)
Good stuff. Would love to see you expand more with some math on that last paragraph.