Crucible Moments

Latest Episodes:

Natera ft. Matthew Rabinowitz - A Personal Mission That Led to a Biotech Revolution Nov 21, 2024

Show notes

Founder Matthew Rabinowitz opens up about the intensely personal journey that set him on a course to revolutionizing healthcare. A PhD in electrical engineering, he had no background in genetics or biology, but after his sister had a baby with Down syndrome that hadn’t been detected and tragically died after 6 days, Matthew dedicated himself to solving this problem. After overcoming seemingly impossible obstacles, today Natera leverages molecular biology and novel bioinformatics technology to provide prenatal screening in nearly half of U.S. pregnancies, as well as transforming oncology and organ transplants. Hear about Matthew’s vision for the future of computational biology and its profound impact on human health.

Host: Roelof Botha, Sequoia Capital

Featuring: Matthew Rabinowitz, Jonathan Sheena, Steve Chapman, Chitra Kotwaliwale, Sarah Elliot

LIVE: DoorDash’s Tony Xu and Miki Kuusi Talk Scaling Operational Excellence Nov 14, 2024

Show notes

Tony Xu and Miki Kuusi share insights from building two of the world's most successful delivery platforms—DoorDash and Wolt—which merged in 2022 to create an $80B GOV business operating in 32 countries. In this candid conversation with Sequoia's Alfred Lin live at a Sequoia event in Europe, they discuss the challenges of scaling operational excellence, maintaining culture through hypergrowth and the future of commerce in cities.

Host: Alfred Lin, Sequoia Capital

Featuring: Tony Xu, Miki Kuusi

DoorDash ft. Tony Xu - The “Wrong” Moves That Built a Giant Oct 24, 2024

Show notes

DoorDash faced skeptics from the start. Grubhub, Delivery.com, and others were already addressing the restaurant delivery market when CEO Tony Xu and his co-founders started in 2013. But after talking to hundreds of local small businesses, they realized there was still an unmet need: None of the competitors solved the problem of delivery with an on-demand workforce, the way Uber had done with drivers. After struggling to raise initial funding, DoorDash found traction. But the next few years would prove tumultuous, with cash scarcity and investor skepticism putting the company perilously close to the brink. The founders’ contrarian decisions, clarity on their commitment to serve small local businesses, and ability to out-operate competitors has turned DoorDash into one the decade’s startup success stories. In this episode, Tony brings us inside their decision-making, and what DoorDash saw that others missed.

Host: Roelof Botha, Sequoia Capital

Featuring: Tony Xu, Keith Yandell, Miki Kuusi, Alfred Lin

UiPath ft. Daniel Dines - From Bootstrapping in Bucharest to One of Software’s Biggest IPOs Oct 10, 2024

Show notes

The biggest enterprise software company to come out of Europe in the last decade didn’t come from London, Paris, Berlin or Stockholm—but Bucharest, Romania.

UiPath, founded in 2005 and originally called DeskOver, was a scrappy handful of engineers bootstrapping out of an apartment in Bucharest for about a decade, seeking in vain for product-market fit. When they stumbled upon an opportunity in the nascent enterprise software category of Robotic Process Automation, the company did a hard pivot, changed their name to UiPath, and rocketed from obscurity to the fastest-growing SaaS company ever at the time. After a successful IPO, today they are the global category leader in RPA. The unlikely rise of UiPath is an inspiration and a reminder that you can build something great from anywhere.

Host: Roelof Botha, Sequoia Capital

Featuring: Daniel Dines, Andra Ciorici-Chelmus, Brandon Deer, Luciana Lixandru

Reddit ft. Steve Huffman - The Making (and Remaking) of the Front Page of the Internet Sep 26, 2024

Show notes

Reddit is one of the largest and most culturally influential sites on the internet—and its journey is one of the most unusual company stories in internet history. College roommates Steve Huffman and Alexis Ohanian founded Reddit in 2005 and scaled it on a shoestring until Condé Nast acquired it the following year. Struggling for direction under its parent company, the founders left, and Condé Nast ultimately spun it out as an independent company once again. With Reddit buckling under user discontent in 2015, founder Steve Huffman returned as CEO to save the company and navigate the way forward. Over the following nine years, Reddit stabilized and the company’s revenue grew more than 50-fold to a successful IPO 19 years in the making.

Host: Roelof Botha, Sequoia Capital

Featuring: Steve Huffman, Alexis Ohanian, Chris Slowe, Jen Wong, Alfred Lin

MongoDB ft. Dev Ittycheria - How an Early Pivot Catalyzed an Open Source Movement Sep 12, 2024

Show notes

MongoDB, founded in 2007, originally aimed to create a platform-as-a-service system with a new database layer. Facing competition from Google, the founders pivoted to focus solely on their database product, MongoDB—a new kind of database built for the scale of the internet era. Founder Dwight Merriman built a product that developers loved, but scaling the company proved challenging until Dev Ittycheria took the reins as CEO in 2014. As cloud computing grew, MongoDB transitioned from on-premise software to Atlas, a fully-managed cloud service. Despite initial skepticism, Atlas now represents 70% of MongoDB's revenue. As Atlas scaled, MongoDB faced another controversial decision: whether to change its open source license model to maintain its commercial moat. These pivotal decisions transformed MongoDB from a niche database to nearly $2 billion in annual revenue.

Host: Roelof Botha, Sequoia Capital

Featuring: Dwight Merriman, Dev Ittycheria and Tom Killalea

Transcript: https://www.sequoiacap.com/podcast/crucible-moments-mongodb/

00:00 - Cold Open

00:19 - Introduction

05:30 - The NoSQL movement

09:52 - Scrapping the platform for the database

14:57 - Launching as MongoDB

19:52 - Moving to the cloud with Atlas

24:52 - Assigning a directly responsible individual

30:15 - How Atlas changed MongoDB

35:03 - Updating the licensing model to avoid “strip mining”

39:50 - Evolving back into a platform

41:26 - Executing on points of leverage

ServiceNow ft. Frank Slootman and Fred Luddy - From Starting Over at 50 to Dodging a $150B Mistake Aug 29, 2024

Show notes

In 2004, bankrupt after the company where he’d previously worked had imploded, Fred Luddy decided to start over as a first-time founder at age 50. His vision was to reinvent the nascent IT software field for the cloud era. What started as simple help desk replacement software would eventually become a ~$150B market cap company powering digital workflows across the enterprise—but success didn’t come easy. Initially bootstrapped and ultra-lean, the company’s infrastructure began buckling under its own success as customer demand spiked. When the legendary Frank Slootman joined as CEO to help scale the company, he describes being terrified to check his email every morning. Hear how Frank, Fred and the team stabilized the business, expanded their product offerings, and nearly made a $150B+ mistake by selling too early.

Host: Roelof Botha, Sequoia Capital

Featuring: Fred Luddy, Frank Slootman, Doug Leone, Pat Grady, Carl Eschenbach

Transcript: https://www.sequoiacap.com/podcast/crucible-moments-servicenow/

00:00 - Cold open

00:22 - Introduction

02:09 - Fred Luddy’s journey to coding

03:33 - Founding ServiceNow after financial ruin

07:11 - Finding product-market fit

15:16 - Finding a new CEO in Frank Slootman

22:19 - Overcoming scaling challenges

29:54 - Contemplating an acquisition offer

32:07 - Blocking the sale

38:17 - Lessons learned

Crucible Moments Season 2: Coming August 29 Aug 22, 2024

Show notes

In Season 1 of Crucible Moments, we heard from founders like PayPal’s Max Levchin, Block’s Jack Dorsey, Nvidia’s Jensen Huang and more about the turning points and key decisions that shaped their journeys. Now Crucible Moments is back for another exciting season. We’ll get the unvarnished history and inside story from Tony Xu of DoorDash, Drew Houston of Dropbox, Frank Slootman of ServiceNow, Vlad Tenev of Robinhood and more. Hosted by Roelof Botha of Sequoia Capital.

Introducing "Training Data," a new podcast from Sequoia about the future of A.I. Jul 11, 2024

Show notes

Crucible Moments will be back shortly with season 2. You’ll hear from the founders of YouTube, DoorDash, Reddit, and more. In the meantime, we’d love to introduce you to a new original podcast, Training Data, where Sequoia partners learn from builders, researchers and founders who are defining the technology wave of the future: AI. The following conversation with Harrison Chase of LangChain is all about the future of AI agents—why they’re suddenly seeing a step change in performance, and why they’re key to the promise of AI.

Follow Training Data wherever you listen to podcasts, and keep an eye out for Season 2 of Crucible Moments, coming soon.

LangChain’s Harrison Chase on Building the Orchestration Layer for AI Agents

Hosted by: Sonya Huang and Pat Grady, Sequoia Capital

Mentioned:

ReAct: Synergizing Reasoning and Acting in Language Models, the first cognitive architecture for agents
SWE-agent: Agent-Computer Interfaces Enable Automated Software Engineering, small-model open-source software engineering agent from researchers at Princeton
Devin, autonomous software engineering from Cognition
V0: Generative UI agent from Vercel
GPT Researcher, a research agent
Language Model Cascades: 2022 paper by Google Brain and now OpenAI researcher David Dohan that was influential for Harrison in developing LangChain

Transcript: https://www.sequoiacap.com/podcast/training-data-harrison-chase/

Nvidia ft. Jensen Huang - An overnight success story 30 years in the making Nov 30, 2023

Show notes

CEO Jensen Huang tells the legendary story of Nvidia, from the company’s early days pioneering 3D graphics cards for a niche PC gaming market to powering the AI revolution as the sixth most valuable company in the world. Nvidia faced multiple near-death experiences along the way, and their so-called “diving catches,” as Jensen calls them, were some of the most dramatic business stories of the modern era.

Host: Roelof Botha, Sequoia Capital

Featuring: Jensen Huang, Chris Malachowsky, Andrew Ng, Mark A. Stevens, Alfred Lin,

Transcript: https://www.sequoiacap.com/podcast/crucible-moments-nvidia/

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