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Kent's Journey To Vertical SaaS Investing
- Kent Bennett described his 14-year path at Bessemer moving from deep tech to vertical SaaS investing.
- He emphasized a focus on industry-specific software like restaurant, dental, and dry-cleaner SaaS products.
Cloud Is High Value But Facing Valuation Pressure
- The cloud is both booming and under pressure as valuations fall while product fundamentals remain strong.
- Bessemer framed it as "the best of times, the worst of times": perception-driven valuation drops force founders to prioritize profitability and capital efficiency.
Show Profitability Or Improve Unit Economics Before Fundraising
- Adjust strategy to demonstrate profitability or capital efficiency if you want to raise in today's market.
- Founders should slow hiring, cut optional spend, and focus on unit economics because raising is now costlier and investors ask for profits.