Making It with Jon Davids 158 - “It Started In My Apartment, And We Grew It To $5B+” | Adam Miller, Cornerstone on Demand
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Dec 17, 2024 Adam Miller, founder of Cornerstone OnDemand, shares insights from his journey building the billion-dollar company from his apartment. He reflects on the dramatic shifts during the pandemic that reshaped his priorities. Miller discusses the evolution of online education, the rise of Los Angeles as a tech hub, and his commitment to philanthropy, focusing on innovative solutions for homelessness and other global challenges. His transition from entrepreneur to social advocate is both inspiring and thought-provoking.
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Downturn Strategy
- Adam Miller advises against drastically cutting costs during a downturn.
- He chose to hire despite market conditions, which allowed Cornerstone to service newly acquired clients.
Capital Efficiency
- Despite raising venture capital twice, Cornerstone OnDemand never used the funds.
- Their growth was fueled by revenue from deals and a focus on capital efficiency.
IPO Amidst Disaster
- Cornerstone OnDemand's IPO coincided with the Fukushima nuclear disaster.
- Despite market uncertainty, the IPO was successful, opening at $18 per share after pricing at $13.