Bond Capital

Jay Simons is a General Partner at BOND Capital and former President of Atlassian. Jay ran Atlassian between 2012-2020 taking them from pre-IPO to about $3B in revenue. Jay is known for being one of the earliest SaaS leaders to adopt and implement a product-led growth strategy. In this episode Jay shares his background, stories from the early days at Atlassian, building two products at once (Jira & Confluence), and his philosophy on management and leadership. Jay has since joined BOND Capital investing alongside Mary Meeker - he shares his investment strategy and what BOND looks for in the companies they invest in. (0:00) Intro (1:19) Welcome Jay Simons (10:15) BEA Acquired by Oracle (14:19) Joining Atlassian (16:58) What was the company growing at when you joined? (22:10) Divorcing the success from the tactics (34:48) Control your destiny of what the market is going to take (40:22) How do you orient your team? (46:42) Having two products early on (55:07) Seeding the community (1:07:29) Crucible moments at Atlassian  (1:22:11) Path to advising  (1:33:28) Soft diplomacy in decision making   Mixed and edited: Justin Hrabovsky Produced: Rashad Assir Executive Producer: Josh Machiz Music: Griff Lawson   🎙 Listen to the show Apple Podcasts: https://podcasts.apple.com/us/podcast/three-cartoon-avatars/id1606770839 Spotify: https://open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1 Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg   🎥 Subscribe on YouTube: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w?sub_confirmation=1   Follow on Socials 📸 Instagram - https://www.instagram.com/theloganbartlettshow 🐦 Twitter - https://twitter.com/loganbartshow 🎬 Clips on TikTok - https://www.tiktok.com/@theloganbartlettshow   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, 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 Mixing and editing: Justin Hrabovsky Check out Unsupervised Learning, Redpoint's AI Podcast: https://www.youtube.com/@UCUl-s_Vp-Kkk_XVyDylNwLA 🎥 Subscribe on YouTube: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w?sub_confirmation=1 Follow on Socials 📸 Instagram - https://www.instagram.com/theloganbartlettshow 📱 X - https://twitter.com/loganbartshow 🎬 Clips on TikTok - https://www.tiktok.com/@theloganbartlettshow 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. Tap follow and enable notifications to stay ahead of the game.

Jay Simons

General Partner

Bond CapitalAtlassian

Jay Simons is a General Partner @ Bond Capital, with their $1.25Bn debut growth fund in 2019 they made their mark on the venture landscape and have since made investments in the likes of Revolut, Canva, NextDoor, IronClad and my favourite, On Running. As for Jay, prior to entering venture, he spent an incredible 12 years at Atlassian including 9 years as President, playing an instrumental role in their hyper-growth journey. Jay is also a board member with both Zapier and HubSpot, two of my favourite SaaS companies. In Today's Episode with Jay Simons You Will Learn: 1.) How Jay made his way into the world of startups following a stint as a pianist in Asia and how that startup journey led to his joining Bond on the venture side? 2.) Why does Jay believe the best companies build economies around themselves? What does this look like in reality? When is the right time for the company to start building these economies? As an investor, what are the signs that a founder is proactively thinking about this? What are some of the biggest mistakes people make when building economies? 3.) Why does Jay believe Partner/Channel networks can be so powerful? When is the right time to build out channel partners? What is the training framework for these partners before they can represent your products in market? How do channel partners change the internal structure and resource allocation for a company? What mistakes do people make with these partners? 4.) How does Jay think about when is the right time to build a second product? What were the biggest takeaways from his time at Atlassian on building product suites? How does Jay determine when is the right time to move upmarket into enterprise? How does this change in a world of product-led growth? 5.) Why did Jay decide now was the right time to move into venture with Bond? For what reasons did Jay choose Bond, over all the other firms? What have been the biggest surprises for Jay from his first 100 days in venture? What have been the most challenging elements? How did Jay embrace the common challenge of building the conviction to write the first check? Item's Mentioned In Today's Episode with Jay Simons Jay's Favourite Book: The River Why Jay's Most Recent Investment: Sentry As always you can follow Harry and The Twenty Minute VC on Twitter here!

Jay Simons

General Partner

Bond CapitalAtlassian

At Atlassian, openness is core to everything the company does: employees can access most information on Confluence; "open company, no bullshit" is one of the company's five values. But it can be risky. Atlassians knew the company was going public four months before it filed. The entire company was told about Atlassian selling its chat products Stride and Hipchat to its largest competitor in the space, Slack, four days before the news went out. Some would say that that level of openness is unnecessary, but Atlassian believes that trust and honesty are essential to maintaining the culture its worked so hard to build. Missed the session? Here's what Jay talks about: What is driving growth in the cloud? Does collaboration help founders drive growth forward? How do you scale an open culture? If you would like to find out more about the show and the guests presented, you can follow us on Twitter here: Jason Lemkin SaaStr

Jay Simons

General Partner

Bond CapitalAtlassian

As VP of Sales and Marketing at Atlassian for three years before becoming President, Jay Simons has a broad perspective on what it takes to build a successful company. Sometimes, ignoring conventional wisdom is what will differentiate you from the competition. Bootstrapping from day one, launching and supporting multiple products, and doing it all without traditional Sales team - Atlassian's approach (and wild success) has always been a curious anomaly in SaaS. After 13 years of being an exception to every rule, Atlassian went public in late 2015 with a total market capitalization of $4.37B at the time of the IPO. In this session, Jay answers our burning questions: 1.) Why does Jay believe in most cases the best run companies are public companies? What does being public bring to the organizational structure of a firm? 2.) How important is it for early stage startups to have board members and outside perspectives? How should they select those inputs? 3.) How important a role does customer support and success play in the conversion of customers from trial to paid versions? 4.) How does Jay focus on 4 products with such a differentiated suite of products? Does this not contradict the often cited fundamental, focus. 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

Jay Simons

General Partner

Bond CapitalAtlassian