Matt MacInnis: belief

Transcript context

…People look at Rippling from the outside, I think they think of us as payroll and HR or whatever, which is cool. It's a bit like saying Microsoft is a desktop operating system company or it's like every company starts from somewhere. ... system company or ... It's like every company starts from somewhere and grows out from there. We see ourselves as building the most successful business software platform in history. In fact, that's the mission statement of our product organization under the umbrella of the mission statement of the company, which is to free smart people to work on hard problems. And when you translate that from where we are today to where we think we're taking things, it's like we really do believe that the core of every workflow and everything that a company has to do, be it AI or manual traditional GUI based software, is who's doing stuff, who owns it, who's accountable? And so the people record is a really important component of that. You can argue that the customer record's also very important. And of course some big businesses have been built on that primitive as well, but we think the people primitive is actually much more important. And that the only thing that hasn't been done here is somebody hasn't been ambitious enough to build a good business on top of that primitive. Workday is terrible software. Everybody agrees on that. I think Workday agrees on that. Good luck to them. But they have failed actually, despite their success, to build a really broad general purpose software platform for business software on the foundation of the people primitive. So we're going to do that. And we're successful because we deliver on that promise at the scale we're at today. The fact that you can do ... and this is not a sales pitch or sort of like an advertisement for Rippling. I just think it's important to sort of contemplate that when you bring together a bunch of disparate business processes into one system on a common business data graph, an object graph, a data lake with a consistent interface, you can do some pretty magical things. So we do payroll, we do HCM, we do IT, we do spend. We are about to launch a new product in the category of business intelligence and data management. And there's a whole bunch of other stuff coming beyond that. And then you layer in AI on top of this, where we alone, where we alone have all of your business data organized into this nice, neat package with a beautiful semantic layer on top of it. The AI can work magic. And we have shipped nothing, nothing yet in this category that I would say gets anywhere near what we're going to show next year. And it is going to set the standard. It is going to be the most ... The back flips that the AI is doing reading and writing data for the user just on our internal use cases at Rippling is jaw dropping. So I'm super excited about the tailwind this is going to create for us. You ask about what can I share about the success of the company? ser just on our internal use cases at Rippling is jaw dropping. So I'm super excited about the tailwind this is going to create for us. You ask about what can I share about the success of the company? What I can say, there are tens of thousands of companies that now run on Rippling. We're less than 1% of the market. And the market cap at 16 billion, I think now undervalues where we are from a revenue perspective by a long shot. There is just so much upside to do what we're doing. And SaaS might be dead-ish in terms of point solutions, but long live SaaS in terms of what we're building. Let me follow that thread in AI. There's been a lot of talk about AI is going to replace SaaS, as you maybe just said.…

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