The last remaining moat: relentless execution

Brett Queener (Partner at Bonfire Ventures) joins GTMnow to share what three decades across Siebel, early Salesforce, co-founding, and seed-stage investing has taught him about what actually wins now that software is cheaper and faster than he ever imagined.

Brett was one of the earliest GTM hires at Salesforce when it had seven employees. He helped build the go-to-market playbook that defined a generation of SaaS: enterprise segmentation, sales motion design, product marketing, the whole works. He then co-founded SmartRecruiters, angel invested in companies like Outreach and Pando, and eventually joined Bonfire Ventures as a Partner to do early-stage investing the way he thinks it should be done: hands-on, operator-led, and built around founders who are ruthless about execution.

Guest links:

Brett Queener - LinkedIn: https://www.linkedin.com/in/brettqueener/Bonfire Ventures - LinkedIn: https://www.linkedin.com/company/bonfire-ventures/Guest company website: https://www.bonfirevc.com/Host links:Max - LinkedIn: https://www.linkedin.com/in/maxaltschuler/Max - X: https://x.com/HackItMaxPaul - LinkedIn: https://www.linkedin.com/in/paulsirving/Paul - X: https://x.com/PaulGTMNewsletter: https://thegtmnewsletter.substack.com

Brought to you by: AngelList

From starting as a small, operator-led rolling fund, to evolving to an institutional platform, AngelList has been a core partner in every phase of GTMfund’s growth. Their software-first fund admin infrastructure allowed us to scale without sacrificing agility — from onboarding hundreds of LPs seamlessly to handling compliance, capital calls, and reporting as our fund size evolved.

As we expanded from Fund I to Fund II, AngelList took care of the back-office operations, allowing us to stay focused on what matters most: investing in world-class founders and building the strongest go-to-market network in venture.

They’ve scaled with us across funds and into the future.

If your fund is growing in size or complexity, check them out at https://angellist.com/gtmfund.

Transcript available under the episode here: https://gtmnow.com/tag/podcast/

Subscribe to GTMnow for the latest episodes! https://gtmnow.com/

Highlights:

00:00 – Brett's career: Siebel, Salesforce employee #7, co-founder, angel investor, seed-stage VC06:58 – The big shift: from passive CRUD apps to agentic software that does the work for you08:07 – "Failing upwards" and what the fastest-growing companies taught Brett about investing in people10:58 – Why Brett moved into VC: 25 years of operators whose collective worth hit $25B16:50 – What Brett looks for in founders now and how it's changed over 6-7 years18:05 – Why anybody can build anything: Brett builds a fully functional travel app in 15 minutes19:20 – The last remaining moat in software26:20 – The real threat to Salesforce and HubSpot and why their ecosystem might be the boat anchor34:20 – How the entire GTM motion changes when the product does the job instead of just enabling it38:30 – Why communicating the right problem to the right ICP hasn't changed in 30 years39:20 – Deploy first, close later40:20 – Why face-to-face matters more now, not less41:00 – Why events are driving 75%+ of pipeline at Brett's early-stage portfolio companies42:10 – Pricing and packaging: the most important GTM lever nobody talks about enough46:35 – The death of the smooth-talking GTM leader47:25 – What happens to VC when software is no longer scarce to build52:00 – Why vertical software wins in the AI era: context, workflow, and the non-tech buyer55:20 – The rep who drove 65 miles to drop off donuts and closed an $80K deal

For inquiries about sponsoring the podcast, email gtmnow@gtmfund.com

GTMnow is a media brand brought to you by VC firm, GTMfund: https://gtmfund.com/