TLDR FoundersApril 28, 2025

TLDR FOUNDERS 2025-04-28

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01HEADLINES & TRENDS

Q1 '25 EARNINGS SEASON KICKS OFF

Early Q1 earnings reports show software companies performing "better than feared" despite economic headwinds. ServiceNow slightly beat expectations and raised guidance despite lower net new ARR, positioning itself as a "deflationary AI platform" as boards seek cost-cutting and automation. Outside tech, a mixed picture emerges: big banks report healthy consumer spending, but signs of caution appear in consumer brands and housing as tariffs and high rates impact middle and lower-income segments. SaaS valuations remain modest at a 5.0x median revenue multiple, with growth rates continuing to be the main driver of premium valuations in an increasingly efficiency-focused market.

cloudedjudgement.substack.com3 min read

KNOW YOUR VC

There are two main paths in venture capital: the selective Home Run Hitters hunting for future $10B+ companies with smaller funds, and the Volume Players raising massive funds to deploy capital widely while living on management fees. Problems arise when VCs get caught in the "messy middle"—not elite enough for top deals but trying to act like they are. Tiger openly moves fast without much involvement, while firms like Benchmark take concentrated positions with hands-on support. Neither approach is wrong—the danger comes when funds aren't honest about their strategy, pushing founders to raise too much or setting unrealistic expectations.

mostlymetrics.com4 min read

WTF VC, Q2 2025 EDITION

The linear “seed-A-B” assembly line is over. Startups now jump between discrete capital pools, and valuations ride almost entirely on conviction—whoever “believes harder” wins the round. Meanwhile, AI is up-ending the funding game (inbound deal flow is dead and classic SaaS looks uninvestable) and capital markets are splintering into region- and stage-specific silos, forcing LPs and GPs to play several fragmented games at once. Net-net: narrative beats numbers, AI warps the field, and the one-size-fits-all VC market is gone.

docsend.com5 min read

02STRATEGIES & TACTICS

THE #1 THING THAT MAKES ENTERPRISE CUSTOMERS SEE VALUE: A GREAT DASHBOARD

Building a robust dashboard is crucial for retaining and upgrading existing SaaS customers, as it clearly communicates value to all stakeholders, even those who never use the app. A successful dashboard requires no additional work from users, provides daily value to key stakeholders, and clearly displays ROI, which can accelerate deal closures and ease renewals. By making the dashboard a core asset, apps can differentiate themselves from competitors and justify higher pricing.

saastr.com4 min read

WHO IS HOLDING YOU BACK?

Every organization has at least one under-performer who can negatively impact overall productivity and performance expectations. To address this, consider reassigning roles, offering training, or letting them go to maintain high performance standards. Quick action can prevent contagious underperformance and preserve team morale.

breakingpoint.tech4 min read

5 INTERESTING LEARNINGS FROM FRESHWORKS AT $800,000,000 IN ARR

Freshworks, initially a Zendesk competitor, has grown to $800M ARR, primarily driven by its EX products and enterprise focus. Despite a slight downturn, it's showing modest growth with a reaccelerating customer base and significant contributions from $50K+ clients. The company's strategic shift to a multi-product approach and AI integration led to increased cash flow and expanded global presence.

saastr.com4 min read

03TOOLS & RESOURCES

TIPTAP

Headless and open source editor framework.

tiptap.devTool

ATLAS

Tickets, AI chat replies, help-center docs, and customer session recordings in one support dashboard.

atlas.soTool

SKARBE

AI tool that captures sales interactions, summarizes them, updates your pipeline, and drafts follow-ups.

skarbe.comTool

04MISCELLANEOUS

COORDINATION CRISIS IN MODERN TECH WORK

A new survey revealed that over half of tech workers waste 25-50% of their time on "work about work" like meetings and approvals. Contrary to expectations, in-office teams report more coordination waste than hybrid workers. Solutions include better delegation, embracing async work, and using AI to summarize meetings and analyze workflow bottlenecks

newsletter.eng-leadership.com3 min read

THE STATE OF STARTUP MEDIA

Tech stories once belonged to gatekeepers like TechCrunch. Now a revolution is brewing—a modern "Republic of Letters" where founders, investors, and builders tell their own tales. This movement exploded during COVID when Packy McCormick, Lenny Rachitsky, and others built massive audiences seemingly overnight. This was because people craved optimism and insider truths instead of journalist skepticism. The secret isn't fancy credentials or connections—just pick one simple idea, take it seriously, and start creating. Even with just a few readers at first, your ideas will sharpen, your network will grow, and you might just find your tribe along the way.

investing101.substack.com3 min read

EUROPE'S FASTEST GROWING STARTUP?

Swedish AI startup Lovable skyrocketed to $30M ARR in 120 days with a team of just 18, leveraging viral growth from rebranding and improvements on a robust initial product. Its growth strategy involved targeted social media engagement and launching on platforms like Product Hunt, capitalizing on word-of-mouth. Lovable's hybrid pricing strategy combines subscriptions with usage limits, maintaining profitability while investing in product development.

growthunhinged.com10 min read