What Founders Have To Unlearn To Become Great CEOs
Spenser Skates has spent more than a decade building Amplitude from a YC startup into a public company, and in that time, he's had to reinvent himself just as much as the product.Joining the Lightcone pod, he talks through the shift from founder to large-company CEO, the skepticism his team initially had toward AI, and the moment they realized the next wave of analytics would require a full reset.He walks through the hard reorganizations, the bottom-up experiments, and the mindset changes that let Amplitude move fast again.
Scaling Amplitude to $300M ARR with Co-founder and CEO Spenser Skates
Spenser Skates is the Co-founder and CEO of Amplitude.
Our conversation gets into the importance of data in product design and company building, how Amplitude is thinking about AI, and the future of user responsive software.
We also get into the early days of building Amplitude, when to go multi-product, how to construct your board as a startup, hiring executives at various company stages, lessons from closing three acquisitions, lessons scaling to $300 million in ARR, inside Amplitude’s 2021 IPO, and what most people get wrong about Founder Mode.
Thanks to Numeral for supporting this episode, the end-to-end platform for sales tax and compliance. Try it here: https://bit.ly/NumeralThePeel
Timestamps:
(4:45) Using data to build great products
(8:31) Why data is existential to every business
(13:14) How to go multi-product
(15:48) Every startup becomes a distribution company
(19:29) Lessons from three acquisitions
(29:09) AI hasn’t changed B2B SaaS yet
(31:24) Challenges of incorporating AI in B2B SaaS
(33:09) Amplitude’s AI experiments
(36:29) Navigating technology hype cycles as a public company
(39:40) Amplitude’s opportunity in LLMs
(43:08) User responsive software
(46:16) Surprising things that slow your speed of execution
(51:27) What people get wrong about Founder Mode
(59:48) Pivoting into Amplitude after YC
(1:04:42) Nine months to raise Amplitude’s first round
(1:08:31) Surprises from closing the first customers
(1:12:46) Two sales lessons for technical founders
(1:13:44) Scaling to $300M+ ARR
(1:17:14) How to choose board members
(1:19:55) Inside Amplitude’s IPO
(1:21:56) “Stock price is an output of the business”
(1:26:36) Evolving from startup founder to public company CEO
(1:31:54) How hiring execs changes as you scale
(1:34:32) Why DEI is important at Amplitude
(1:39:46) Relevance of gaming and startups
Referenced
Try Amplitude: https://amplitude.com/
Careers at Amplitude: https://amplitude.com/careers
Moxie Marlinspike’s web3 article:https://moxie.org/2022/01/07/web3-first-impressions.html
Sheep Logic: https://www.epsilontheory.com/sheep-logic/
Follow Spenser
Twitter: https://x.com/spenserskates
LinkedIn: https://www.linkedin.com/in/spenserskates
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Twitter: https://twitter.com/TurnerNovak
LinkedIn: https://www.linkedin.com/in/turnernovak
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No Reset Button: Reinventing Amplitude in a Post-AI World (Spenser Skates)
Amplitude helped define the modern analytics stack, powering digital products with deep behavioral insights. But in a world shifting toward agentic interfaces and vertically integrated AI, even a category leader has to evolve.
In this episode, CEO Spenser Skates shares how he’s rethinking AI within the constraints of a 13-year-old codebase, why analytics remains Amplitude’s competitive edge—and why taking the company public early was a risk worth taking.
Chapters:
00:00 Trailer
00:43 Introduction
01:26 AI is still very early
05:48 The urgency of building from the ground up
08:49 Bringing in new blood
11:23 Higher valuations and going public
15:00 Who’s leading who
18:39 Markets being open and closed
21:14 Being the incumbent in AI
24:40 Slow innovation
31:43 The ultimate founder
37:06 Things willing to relinquish
44:04 Being the person I want to be
46:41 Between family and work
50:08 Becoming the person you hate
55:16 Chief general, chief justice, chief priest
1:02:56 Tired founders
1:04:32 Missing out
1:14:51 Who Amplitude is hiring
1:15:41 What Spenser means to Spenser
1:16:54 Outro
Mentioned in this episode: OpenAI ChatGPT, Command AI, Oracle Corporation, Anthropic Claude, Jeff Bezos, Steve Jobs, Bill Gates, Larry Ellison, Rippling, Stripe, Meta Platforms, Inc., Mark Zuckerberg, Figma, Canva, Peter Thiel, Anne Lee Skates, Ruth Bader Ginsburg, Michael Jordan
Links:
Connect with Spenser
X
LinkedIn
Connect with Joubin
X
LinkedIn
Email: grit@kleinerperkins.com
Learn more about Kleiner Perkins
Anatomy of a Win-Win Acquisition: Synergy, Growth, AI, and the Future of SaaS | E2047
Todays show:
Spenser Skates and James Evans join Alex to discuss Amplitude's acquisition of Command AI, shedding light on recent startup M&A trends and the strategic vision behind this move. The conversation delves into Command AI's user assistance technology and its integration into Amplitude, which aims to enhance user surveys and feedback. Spenser outlines Amplitude's product-led growth strategy and its approach to scaling through acquisitions while managing risks and ensuring cultural alignment. The discussion also covers the acquisition deal structure, regulatory concerns, and the decision-making process between raising funds and selling. Also, we hear Spenser’s unfiltered take on private equity and regulatory oversight!
*
Timestamps:
(0:00) Spenser Skates of Amplitude & James Evans of CommandAI join Alex.
(1:40) Startup M&A trends and Amplitude's acquisition of Command AI
(4:30) Overview of Command AI's user assistance technology
(7:05) Integration and benefits of Command AI within Amplitude
(10:17) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://www.Squarespace.com/TWIST
(11:45) Enhancements in user surveys and feedback with Command AI
(16:58) Amplitude's strategic vision behind acquiring Command AI
(20:22) Gusto - Get three months free when you run your first payroll at http://gusto.com/twist
(21:28) Product-led growth and enhancing user experience at Amplitude
(26:08) Amplitude's approach to scaling through strategic acquisitions
(30:01) DevSquad - Get an entire product team for the cost of one US developer plus 10% off at http://devsquad.com/twist
(31:30) Managing acquisition risks, integration, and cultural alignment
(35:19) Acquisition discussions and deal negotiation
(39:48) Acquisition deal structure and stakeholder conviction
(42:08) Addressing regulatory concerns and valuation mismatches in acquisitions
(44:20) Decision-making: Raising funds vs. selling a company
(46:00) Post-acquisition: Integrating Command AI's technology
(49:37) Amplitude's future growth strategy and leadership
(54:00) Transition from founder mode to distributed leadership
(56:15) Role of AI in Amplitude's product development
(59:44) AI model considerations and financial sustainability in B2B software
(1:01:34) Market position and growth of Command AI
*
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*
Mentioned on the show:
Check out Amplitude: https://amplitude.com
Check out CommandAI: https://www.command.ai
*
Follow Spenser:
X: https://x.com/spenserskates
LinkedIn: https://www.linkedin.com/in/spenserskates
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LinkedIn: https://www.linkedin.com/in/james-evans-7086b3126/
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Thank you to our partners:
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SaaStr 702: Hitting Hypergrowth: How to Take Your SaaS Company from $25M to $100M+ and Beyond with Amplitude CEO, Spenser Skates
From seed funding to reaching $100M ARR to going public in 2021, Spenser Skates knows about growing and scaling a business. But for many founders, the question becomes: how do you maintain hypergrowth? In this podcast, Spenser will share key lessons around maintaining long-term, sustainable growth, including when to expand your product suite, why iteration matters more than perfection, where AI fits (and doesn't!) fit into growth strategy, and how to ensure your exec team is the right group for your next stage of growth.
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The software market, AI moats, and when to go public with Amplitude CEO Spenser Skates
This week, Alex had Amplitude CEO Spenser Skates on the show to talk about the SaaS market journey since his company went public in late 2021, which happened to be right before investor sentiment changed.
After a successful IPO, Amplitude warned analysts and investors alike in early 2022 that it was seeing some macroeconomic pressure, which led to its stock being sharply repriced. (That happened to most companies eventually, to be fair.)
Since then, the digital analytics company has shaken up its organizational structure, launched new AI products, and has continued to grow while becoming cash flow positive. All that made Skates the perfect person to talk about:
The current state of the business software buyer, and when Skates expects demand for digital goods and services to improve.
When to charge for AI products, and when not to; also, the power of data moats in AI, and how they may be more durable than they are in other areas of SaaS.
How to know when you have to cut staff.
And, critically, how much Baldur's Gate 3 Skates has played so far.
Equity will be back with our news roundup Friday morning! We'll see you then!
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EP 55: Spenser Skates (Co-Founder/CEO, Amplitude) - Going Public, Exercise Windows and Why Sales is More Important Than Engineering
In the 55th episode of The Logan Bartlett Show, Amplitude CEO Spenser Skates joins to discuss his path to going public, finding market fit, differentiating from competitors, and Logan’s early investment in Amplitude.
(0:00) Intro
(4:13) Going Public
(16:50) Thinking About Cost Consciousness
(21:17) Crowdsourcing Cost-Saving Ideas
(26:22) Choosing a Career
(35:25) The Promise of Product Data
(58:36) What to Look For in a Board Member
(1:01:12) Founding CEOs Suck at Hiring
(1:17:39) Exercise Windows
Mixed and edited: Sam Dewees
Produced: Andrew Nadeau and Rashad Assir
Executive Producer: Josh Machiz
Music: Griff Lawson
🎙 Listen to the show
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About the Show
Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.
Executive Producer: Rashad Assir
Producer: Leah Clapper
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About the Show
Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode of The Logan Bartlett Show, we sit down with the people behind today’s most important startups and extract the tactics, lessons, and frameworks they’ve learned the hard way. Conversations span hiring to GTM, product, growth, fundraising and everything in between - collectively forming the ultimate playbook to make you a better CEO, investor or board member.
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SaaStr 547: The Secrets to Going Big, Going Multi-Product and Going Public with Amplitude CEO Spenser Skates, Part 2
Spenser Skates is the CEO of Amplitude, one of the leading customer analytics services for enterprises and product makers. But getting customers like Twitter, Instacart, Match, and IBM didn't happen overnight. Spenser lays out the mistakes young companies will often make as they grow, and how he positioned Amplitude for growth and success. He found these lessons essential for founders to learn on their way to $100 million ARR and beyond. In this episode, Spencer discusses:
* Focusing on the product and expansion
* Taking your company public
This is the second half of Spenser's session from 2022 SaaStr Build. You can find the first half in Episode 546 here: https://sites.libsyn.com/77527/saastr-546-the-secrets-to-going-big-going-multi-product-and-going-public-with-amplitude-ceo-spenser-skates-part-1
Full video: https://youtu.be/2UPMCcC3OHQ
Want to join the SaaStr community? We're the 🌎largest community for B2B software.
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SaaStr 546: The Secrets to Going Big, Going Multi-Product and Going Public with Amplitude CEO Spenser Skates, Part 1
Spenser Skates is the CEO of Amplitude, one of the leading customer analytics services for enterprises and product makers. But getting customers like Twitter, Instacart, Match, and IBM didn't happen overnight. Spenser lays out the mistakes young companies will often make as they grow, and how he positioned Amplitude for growth and success. He found these lessons essential for founders to learn on their way to $100 million ARR and beyond.
In this episode, Spenser will discuss laying the right foundation for long-term success:
* Find the right product-market fit
* Build the best founding team for growth
* Hire a team of people more talented than you
* Surround yourself with a well-rounded board of advisors
Full video: https://youtu.be/2UPMCcC3OHQ
Want to join the SaaStr community? We're the 🌎largest community for B2B software.
Subscribe for weekly updates: https://www.saastr.com/subscribeform
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Spenser Skates - Challenging Big Ideas - [Founder’s Field Guide, EP. 42]
My guest today is Spenser Skates, CEO and co-founder of Amplitude Analytics. Spenser founded Amplitude in 2012 with a thesis that building the best product requires, deep cross-functional understanding of customer behavior. During our conversation, we discuss Spenser’s long history in programming and how his early experiences tie into his work today. We also explore the nuances of equity compensation, how different VCs can play a role in the success of a startup, and Spenser’s desire to see more direct listings vs. IPOs. While many founders follow the path of others, it is clear Spenser takes time to challenge the status quo.
Before we transition to the episode, I wanted to highlight our newest series, Business Breakdowns. In this episode, you will hear how Spenser’s team worked with the meditation app, Calm, to optimize for customer growth. It was particularly interesting to hear this story after listening to the Calm breakdown. Find episodes of Business Breakdowns on your preferred podcast provider or on joincolossus.com
I hope you enjoy my conversation with Spenser Skates.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Show Notes
[00:03:15] - [First question] - How he won the Battlecode tournament at MIT twice
[00:06:43] - A few key insights that helped him win the tournaments
[00:08:34] - Lessons learned at MIT and the road to starting Amplitude
[00:13:57] - A typical customer experience when using Amplitude
[00:17:17] - How their platform extrapolates key data points in user data that others don’t
[00:19:03] - His most productive mistakes made while building the company
[00:21:10] - The strange history of equity and his thoughts on how it should be used
[00:28:08] - The recent changes in the vesting schedule for newly issued equity
[00:29:59] - Lessons learned from working with some of the best investors out there
[00:36:20] - His thoughts on the IPO process and going public writ large
[00:41:04] - The role the SEC plays and his perspective on SPACs
[00:44:01] - Differences in direct listings compared to traditional IPOs
[00:48:36] - His thoughts on dual-class structures and corporate governance
[00:50:11] - Hopes for Amplitude as he looks five years into the future
[00:52:03] - The potential value unlock of smart software for end-users
[00:55:08] - The kindest thing that anyone has ever done for him
#040 – Learning How to Be a Successful Founder with Spenser Skates
Spenser Skates, the CEO of Amplitude, took a very deliberate approach to becoming a founder and left as little to chance as possible. Learn about the steps he took to prepare himself, and how he went on to build a multi-million dollar analytics business with 100 employees.
Transcript, speaker information, and more: https://www.indiehackers.com/podcast/040-spenser-skates-of-amplitude
SaaStr 153: How To Build and Scale Sales Teams As A Technical Founder, How To Scale The Sales Learning Curve & Why No One Actually Cares About Your Product with Spenser Skates, Founder & CEO @ Amplitude
Spenser Skates is the Founder & CEO @ Amplitude, the only analytics solution built for modern product teams that helps you understand user behaviour and ship the right solutions fast. They have raised over 55m in VC funding from many friends of SaaStr and 20VC including Eric Vishria @ Benchmark, Neeraj Agrawal @ Battery Ventures, the teams at IVP, Data Collective, Box Group and SV angel, just to name a few of their incredible investors. Prior to Amplitude, Spenser founded Sonalight, an app that allowed users to text while they drive, backed by the likes of Y Combinator.
In Today's Episode You Will Learn:
How did Spenser make his way into the world of SaaS and come to found Amplitude?
How did Spenser look to build and scale his sales team, as an engineering focussed founder? Where does Spenser see most engineering founders go wrong in their approach to sales?
What were the stumbling blocks that Spenser found hard in this learning process? What is his biggest advice to technical founders to scale the learning curve fast?
How does Spenser view the importance of a customer's willingness to pay? Does that suggest a correlated amount of value? How should this propensity to pay, change with the stage of the provider? How does Spenser suggest founders mitigate discounting?
What have been Spenser's core learnings in creating an incentivised sales team? What are the core drivers that yield the behaviour desired? How does Spenser look to align this with engineering teams, traditionally disgruntled with sales' compensation packages?
60 Second SaaStr
What does Spenser know now that he wishes he had known at the beginning of Amplitude?
What is Spenser's fave SaaS reading material? How does that vary according to stage of business?
How does Spenser view discounting?
If you would like to find out more about the show and the guests presented, you can follow us on Twitter here:
Jason Lemkin
Harry Stebbings
SaaStr
Spenser Skates