MV #017: What a start to 2023. From layoffs to fake-jobs.
From ChatGPT, to fake jobs to lots of planning questions for GTM teams.
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đ Hi there, happy Sunday!
Itâs been a rough start to 2023. Sales teams are either coming back from the rush of Q4 or are still in the middle. Also, where did the sun go? The days are shorter than ever.
So, letâs dive into this weekâs edition of More Value.
đĄ You canât be LAYOFF-PROOF, but you can be CAREER-PROOF
No job is ever LAYOFF-PROOF, sadly. But you can work on yourself to become CAREER-PROOF. Here is how.
Do amazing work.
Develop a personal brand.
Acquire transferable skills.
Build a strong network.
Want more detail? Check out my full post here. Another excellent post on protecting yourself is here by Kevin Chiu.
âď¸ Salesforce cuts 10%. Whatâs the problem?
Salesforce cut 10% of staff earlier this month, along with other tech companies. Please read my entire post; the central issue seems to be efficiency and productivity challenges, along with worsening investor sentiment and market demand.
đ My take: This is only part of the story. Another part is culture.
Salesforce has a robust and great culture. But many great companies do. The acquisition spree over the past years has led to incompatible (yet, each great in their own way) cultures clashing. Tableau. Slack. Mulesoft. All have strong cultures that were not compatible. This led to bad strategy, execution, and now a lot of talent is leaving.
Iâll keep a close eye on how now sole CEO Marc Benioff will tackle this challenge. For those who sadly lost their jobs, Gregg Johson, CEO at Invoca, wrote a great post on this on LinkedIn: âAdvice on Navigating âLife after Salesforceââ
As Peter Drucker said: Culture eats strategy for breakfast.
đľ Who invests when and how much?
Great post by Greg Brinson (Source) illustrating who invests in different types of companies and at what stage.
đ My take: The lines were blurring because everyone was looking to find ways to deploy cheap capital in 2021/2022. That will probably change in 2023, and different firms will stick to their guns.
đ° Founder salaries in Europe
Always a hot topic. Sifted, backed by FT, shared survey results on how much founders pay themselves at different stages of their startup. (Source)
đ My take: Pay yourself enough so you donât have to worry daily about your home life and can entirely focus on your startup.
đ¤ Microsofts best play ever - Buying ChatGPT
Microsoft might invest in owning a large part of OpenAI. The deal is valued at almost $20bn, and Generative AI has already unlocked more value than many recently developed technologies.
OpenAI could be Microsoftâs most valuable acquisition ever.
đŞ More great stuff for B2B professionals
Brexit has not impacted VC in London much. Still the top spot for startups via Citi AM
Whoâs problem is it when sales get unwinnable territories?
Can companies grow up with Hubspot without moving to Salesforce? by Jason Lemkin
GDPR - another own goal and barrier to advance innovation in Europe by Michael Jackson
Are you preparing a 2023 go-to-market plan in a recession? Some great insight from Stage 2 Capital.
The incredible story of Gustavo, who started a fake job, did fake onboarding and met fake colleagues.
đ Parting thought
Next time your sales team does something great, thatâs not SIGNING A DEAL or KILLING A DEMO. Give them some praise! (Link to full post)
đ Thatâs it. Have a great Sunday!
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