- software is eating the world (& APIs are eating software)
- there are great product opp's for those who know where to look
- theres no real competition
- SaaS/subscription is the best delivery model out there (build once, sell twice+)
There is real opportunity to:
- scale a HoldCo
- focused on a portfolio of software & digital-forward assets
- serving niche and/or traditionally sleepy verticals
A playbook to follow...
- software is eating the world (& APIs are eating software)
- there are great product opp's for those who know where to look
- theres no real competition
- SaaS/subscription is the best delivery model out there (build once, sell twice+)
We’re entering what I call the ‘Deployment Era’ ... where more traditional (sleepy) businesses will increasingly leverage software/tech to improve their model
And the best part is... we're on the front-end of riding this longer-term wave
Software (& other digital-first products) will eat more of the ‘traditional SMB’ stack
But most aren’t focused here bc it isn’t sexy or cool…
Which is where the opp is for those who have the right deal nose & know what to build & for who
Where you can build/acquire assets that have the best econ delivery model (SaaS/sub), w/ low competition, where you have an inside edge/know everyone in industry, & can do it when no one is looking
1. A true operator who knows the industry cold
2. A rockstar dev who can ship quickly, effectively (not over-engineer), & efficiently (on budget)
3. A capital allocator with good deal nose for buying/building + scaling assets
- saw an emerg trend
- picked industries w/ long runway w/ less competition
- & applied best in class execution w/patiently impatient capital allocation
Lets look at petcare services
And more specifically – veterinary clinics, daycare/boarding operators, aftercare (crematories), etc.
Note: we own/operate a handful of different operators within this vertical
- large (50K+ operators doing billions in annual profit)
- fragmented
- & most are run by baby boomers who hung a shingle 20+ years ago... and haven’t changed much (if at all)
But you can’t get ahead of yourself… the near-term opportunity is to keep it simple & effective by offering to take them to 2.0 (not 10.0)
You should look at different line items of an operator P&L… a few examples:
- revenue --> pricing optimization saas
- clinical compensation --> payroll automation saas for complicated production based-comp
More from Software
The Great Software Stagnation is real, but we have to understand it to fight it. The CAUSE of the TGSS is not "teh interwebs". The cause is the "direct manipulation" paradigm : the "worst idea in computer science" \1
Progress in CS comes from discovering ever more abstract and expressive languages to tell the computer to do something. But replacing "tell the computer to do something in language" with "do it yourself using these gestures" halts that progress. \2
Stagnation started in the 1970s after the first GUIs were invented. Every genre of software that gives users a "friendly" GUI interface, effectively freezes progress at that level of abstraction / expressivity. Because we can never abandon old direct manipulation metaphors \3
The 1990s were simply the point when most people in the world finally got access to a personal computer with a GUI. So that's where we see most of the ideas frozen. \4
It's no surprise that the improvements @jonathoda cites, that are still taking place are improvements in textual representation : \5
The Great Software\xa0Stagnation https://t.co/A6peSPERaU
— Jonathan Edwards (@jonathoda) January 1, 2021
Progress in CS comes from discovering ever more abstract and expressive languages to tell the computer to do something. But replacing "tell the computer to do something in language" with "do it yourself using these gestures" halts that progress. \2
Stagnation started in the 1970s after the first GUIs were invented. Every genre of software that gives users a "friendly" GUI interface, effectively freezes progress at that level of abstraction / expressivity. Because we can never abandon old direct manipulation metaphors \3
The 1990s were simply the point when most people in the world finally got access to a personal computer with a GUI. So that's where we see most of the ideas frozen. \4
It's no surprise that the improvements @jonathoda cites, that are still taking place are improvements in textual representation : \5
Software architecture is in crisis, and the way to fix it is a hefty dose of anarchy.
Some lay the blame for this on @boicy with the whole microservices thing.
(Admittedly, @nicolefv, @jezhumble and @realgenekim didn’t help when they statistically proved that he might have been onto something with all that de-coupling and team-alignment…)
However I don’t blame him at all.
I think he saved us; bringing us back to the path of value-delivery and independent services, but now with added independent teams.
But one thing is clear. Microservices need more architecture, not less (as do other forms of #Accelerate-style software organisation).
(See https://t.co/B2hWmXhIqe if you need convincing)
I mean, all those pesky slices we need to carve up our monoliths (or were they big balls of mud?) That’s a significant amount of work right there…
Some lay the blame for this on @boicy with the whole microservices thing.
(Admittedly, @nicolefv, @jezhumble and @realgenekim didn’t help when they statistically proved that he might have been onto something with all that de-coupling and team-alignment…)
However I don’t blame him at all.
I think he saved us; bringing us back to the path of value-delivery and independent services, but now with added independent teams.
But one thing is clear. Microservices need more architecture, not less (as do other forms of #Accelerate-style software organisation).
(See https://t.co/B2hWmXhIqe if you need convincing)
I mean, all those pesky slices we need to carve up our monoliths (or were they big balls of mud?) That’s a significant amount of work right there…
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The entire discussion around Facebook’s disclosures of what happened in 2016 is very frustrating. No exec stopped any investigations, but there were a lot of heated discussions about what to publish and when.
In the spring and summer of 2016, as reported by the Times, activity we traced to GRU was reported to the FBI. This was the standard model of interaction companies used for nation-state attacks against likely US targeted.
In the Spring of 2017, after a deep dive into the Fake News phenomena, the security team wanted to publish an update that covered what we had learned. At this point, we didn’t have any advertising content or the big IRA cluster, but we did know about the GRU model.
This report when through dozens of edits as different equities were represented. I did not have any meetings with Sheryl on the paper, but I can’t speak to whether she was in the loop with my higher-ups.
In the end, the difficult question of attribution was settled by us pointing to the DNI report instead of saying Russia or GRU directly. In my pre-briefs with members of Congress, I made it clear that we believed this action was GRU.
The story doesn\u2019t say you were told not to... it says you did so without approval and they tried to obfuscate what you found. Is that true?
— Sarah Frier (@sarahfrier) November 15, 2018
In the spring and summer of 2016, as reported by the Times, activity we traced to GRU was reported to the FBI. This was the standard model of interaction companies used for nation-state attacks against likely US targeted.
In the Spring of 2017, after a deep dive into the Fake News phenomena, the security team wanted to publish an update that covered what we had learned. At this point, we didn’t have any advertising content or the big IRA cluster, but we did know about the GRU model.
This report when through dozens of edits as different equities were represented. I did not have any meetings with Sheryl on the paper, but I can’t speak to whether she was in the loop with my higher-ups.
In the end, the difficult question of attribution was settled by us pointing to the DNI report instead of saying Russia or GRU directly. In my pre-briefs with members of Congress, I made it clear that we believed this action was GRU.
