No Priors Live: Is the SaaS "Bear Thesis" Overblown? MongoDB CEO Answers

00:00:00since 2022. The future of software is inquestion. This is from the investorcommunity but also customers. It is avery pivotal moment on the softwarestack. And then you look at the softwarestack and you say okay what is the onething that will always be there? Howmany companies today that are there thatare more than 10 billion in just pureplay software revenue? It's singledigits. Why is that? The softwareindustry has been around for a long timecreated by many many smart people likeyourself. Why is it [music] onlysingledigit companies are more than 10billion in revenue? Because>> platforms are rare.>> Platforms are rare. Speed matters. Whentechnology transitions happen, are youbuilding as fast as you can? And thenare you learning on that technologyshift? Whether it's the internet age orAI age or mobile, are you pivoting fast?It's just that you have to stay ahead ofthat game. If you fall behind that game,investors or customers will always askyou that [music] question, what is thefuture of your company?>> Welcome to the very first live recordingof the No Priors podcast with host SarahGuo and MongoDB president and CEO CJDesai. Hey everyone, I am so happy to behere with you guys and my uh longtimefriend CJ.

00:01:15I know you guys have had agreat day of announcements and andlearnings here at the conference, but II'm really excited personally to havethe opportunity to zoom out with CJ totalk about uh the future of software umwhat's happening in SAS and and wherethe value is going to be. These areimportant questions to me in my you knowday job as a as a venture investor. Umso CJ, you have worked at these platformenterprise software and infrastructurecompanies. uh became CEO of MongoDBrecently. I feel like the one questionthat we were just talking about thatevery investor asks you and theneverybody in the technology ecosystemhas the back of their mind is what isthe value of software when you cangenerate a bunch of software and and soI I'd love to just get your thoughts onthis.>> That's a very spicy question to startwith. I like it.>> I'm making sure everybody's awake.>> Yeah. Yeah.>> U first thank you for doing no priorlive for the first time. it's made inand we have a really good crowd here.So, uh it's always exciting.You know when you think about technologytransitions software whether you look atinternet age or mainframe all the waytill AI you have to really think through

00:02:30what is the mode here right whicheverapplications you create you know SASapplications got created late '9s rightlate '90s I think Salesforce had their25 years anniversary recently and so SAShas been around for at least 25 yearsfrom from a transition perspective andnow with AI the question is just ingeneral what is the future of softwarewhat's the stack and do you really havea moat as a company or not there arefolks uh who will say hey my moat is Ihave a great customer relationship or mychannel is amazing and that's my mode asI disrupt myself within um but from mystandpoint speed matters matters, right?Speed matters. So when technologytransitions happen, are you building asfast as you can and then are youlearning on that technology shift?Whether it's the internet age or AI ageor mobile back in u early 2010 when metamade the pivot towards uh mobile are youpivoting fast and if you pivot fast toleverage the technology whatever theplatform shifts are happening, I thinkit is fine. It's just

00:03:46that you have tostay ahead of that game. If you fallbehind that game, investors or customerswill always ask you that question, whatis the future of your company? And thatis something you have to be on theleading edge. Not every bet will work.But from my standpoint,the just going on the extreme terminalvalue being zero for some of thesoftware, they are overblown. uh and youknow uh we'll figure this out together.part of your career you were leadingproduct at service now it is a fran itis one of the most durable enterprisesoftware companies or so everyoneassumed until relatively recently andnow now this question is up for debateum I I think for a lot of people withinan engineering mindset who think aboutbuying developer tools or usingdeveloper infrastructure uh the the wordlike customer stickiness or distributionas the moat it feels very abstract canyou just talk a little bit about likehow important you know service now as anexample is to its customers and why whatyou think about that.>> One of the things is platforms aresticky products are not.>> Okay.>> So no matter which

00:05:01software company youcreate today in the world of uh in theage of AI or you created in the pastproducts can be replaced. uh my hiringmanager at service now Frank Slutmanused to say tools are for fools as in ifyou say this is a software tool>> that's never a good sign and that's whyhe used to say that tools are for foolsuh so one is products can be replacedbecause that's a fast uh software is adisruptive market so you want to makesure that you have a platform that youare positioning to the customer whetherit's a builder here in San Franciscothat is creating a brand new company fora use case all the way to a very largecompany that is selling to say a largebank. Okay. So one iswhen you position yourself as a platformmaybe that increases your sales cycleversus selling hey you're using this nowyou can use this go ahead and replace itright so platforms are sticky becauseit's a thoughtful decision from acustomer's perspective the second thingthat>> this is actually not the general adviceof many people in the startup and VCcommunity so I want to I want to talk

00:06:16about this a little bit and then I wantto get to your second point>> um you You know a lot of people talkabout having like a wedge right and forservice now you know it service deskwould have been considered the wedge. Isthat not the right is that like a wrongretelling of history here? I mean youneed an initial use case and thatinitial use case has to be a killer usecase because if you go in front of alarge bank or a healthcare company or amanufacturing company say you arebuilding something here uh with thisgreat audience we have you can say okaythis is a disruptive way to think of alegal use case or a finance use case ora help desk use case that's great that'syour entry point but then the entry thatwas easy for you to get in if it wasdisruptiveexit would be in a similar way easy uhbecause they have not built thingsaround you right so that's that's themain part that okay today it will workfor your maybe 0 to 100 million uh 0 to10 10 to 100 whatever steps you want togo in but it gets harder and harder setup from 100 to billion billion to 5billion and then 10 billion plus I meanhow many companies today that are therethat are more than 10 billion

00:07:31insoftware,>> 10 billion in just pure play softwarerevenue.>> How many companies are there? It'ssingle digits.>> Okay. Why is that? The software industryhas been around for a long time createdby many many smart people likeyourselves. Why is it only singledigitcompanies are more than 10 billion inrevenue? Because>> platforms are rare.>> Platforms are rare and platforms arerare. So one is your dream or aspirationas a software company should that youbecome a platform and once you are aplatform that means you have n equals atleast two you have two plus productsbeing used by your customers fromwhatever you are offering they all workin unison with each other so it's stickytruly from a technology perspective andthen what I would argue further all theintegrations that your customer has todo with their existing systems becauseremember if you go to a large bank, bankhas been around for some of them 100plus years. You go to a large insurancecompany, they've been around for 100plus years. If you go to a healthcarecompany, same thing. You look at Fortune10, Fortune 100, Fortune 500, that'swhere the TAM is. Mhm.>> And if that's where the time

00:08:46is and yougo there and if it is just a producteventually you're going to max out andthen you'll have to uh add multiplethings. So if you're a platform you'resticky products work with each other andthen those products work with all thesystems you have and I'll just make itvery specific speaking to a bank onbehalf of MongoDB. They run theircommercial banking applications on topof MongoDB. They have built lot of otherintegrations. They have done all thesecurity checks, governance, all of thatstuff. And I said, "Wow, gee, how manyapplications you have built on MongoDB?"They say very critical and that matter.I said, "How many?" And finally the CTOtells me in London, "30." I said, "Wow,okay, that's great. 300 applicationsbuilt on MongoDB." I said, "Cj, don'tworry. Thank you for coming to London.We are not going anywhere." I said, "CanI just ask you what's the denominator? Iunderstand the numerator is 300." Hesaid,9,000. I said 9,000 that's a greatopportunity for MongoDB. [laughter]Uh so>> he said I'm not going anywhere.>> I'm not going. So that's when the morethey use the more sticky we get and thenwe are in the fabric of theirinfrastructure. So, so the other premisethat

00:10:01you know some builders and buyersand and uh investors now have is those9,000 applicationsuh with vibe coding being possible orengineering and some code generationuhsome set of those are just going to beyou know made on demand or you know inniche ways by every company. What's yourtake on this? and that and that's theway that this bank or whoever it is as acustomer is going to get exactly whatthey want and they're not going to behorizontal more standardized or evenvertical applications anymore.>> Yeah. But if you are you know trying tosell banks have huge budget fortechnology right so okay you used a Vcoding platform AB and C you created anapp great so your app velocity hasincreased if you used MongoDB itaccelerated just kidding okay but yourapp velocity is high got it but youstill need that go to market channel howare you going to approach the bank andthen what is your true disruptive wayand then the bank will ask you hey wetalk to regulators a lot more than we

00:11:17speak to our customers and vendors>> stuff>> uh yeah will will this work will it passour regulatory test we need resiliencyoh what do you mean you have just builtin AWS it doesn't work in GCP I needmulti cloud resiliency oh I really needfor this banking application in onremtruly sandboxed or better way to say itis an air gap network. I mean these arelike enterprise class things that youneed where the TAM is.>> Mhm.>> Right. And so that's whatcould hold you up that is this truly anenterprise class application that youcan go to a healthcare company or apublic sector federal customer and dothat. So yes, wipe coding will allow youto create an app fast. You have a greatuse case. You have some disruption inmind. That's excellent. But then thereis a lot of things that you need from ago-to market perspective to be able tobreak in, pass all their checks,governance, security audits and thingslike that.>> You are and I want to talk about thedecision to join and and and leadit in a minute, but um having worked atthese platform companies that areincumbent, Service Now and Cloudfare andsuch, um what would you do if you werethem or any other large enterprisesoftware vendor today? What do you thinkis the

00:12:32the path to success five or 10years from now that the investorcommunity does not understand?>> Wow. What would I do if I was there sorecently at Cloudflare?>> Um I I would saythe TAM for these platforms still existand the TAM is still large. So that's agood thing because if you feel like yourTAM is decreasing or all of a sudden notrelevant anymore, uh that's an issue.But whether it's MongoDB or anybody herewho are working on their company. So Iwould sayyou really really need to understandwhat is that mode you have and you needto protect that mode or maybe strengthenthat mode even more using AI. Whateverthat mode is. Okay. If the mode is trulyyou are the platform you already haveintegrated with 50 different systems inthat large healthcare company great whycan't you now integrate with 100 more uhcompanies in there why can't you createadditional products for additional usecases really fast using AI and continueto show I want to say reaceleration ofgrowth that AI is really helping us

00:13:47innovate more and sell more because ifyou can't in if you say you'reinnovating more but you're not sellingmorethen you have potentially issues nomatter who you are any company I'm justit's a generic comment but can youinnovate more can you disrupt within andcan you sell more that's what if I'm aninvestor and you know we speak toinvestors all the time that's what theyare looking for that hey would this willAI reacelerate this company's growth andunless you show reacelerationthey're going to say Okay, maybe I'mneutral or in some extreme examples, I'ma bear.>> When you were at Service Now, you got alot of calls for different jobs. And atCloudFare, you got a lot of calls fromdifferent jobs. I know because I Icalled you about several of them.>> There's actually been this big shift ofdollars in the investor community. I'mreally thinking about public markets,but also private markets from businesssoftware to essentially AIinfrastructure. Yeah. Right. Um and themodel layer um>> and maybe hyperscalers>> and hyperscalers. Yes. Um uh the dataand developer infrastructure layer hasnot been the focus of those that dollarmovement and you know you could havedone any of these things. Um

00:15:03how did youthink about what sectors would belong-term relevant and it sounds likeyou're pretty committed to beingplatform. So be a platform. Yeah, it'sabsolutely true that I I had choices andchoices are always hard or I could haveCloudflare is a great company and Icould have stayed at Cloudflare. Um, sofrom my perspective, the first thing Ilook for is that is there a durable TAM,right? And I started my career out ofcollege with Oracle Corporation andunderstood how they scale the databaseplatform truly created apps on top of itand bunch of other things duringOracle's organic growth days before theystarted buying uh various assets.Learned a lot on how did they reallythink about the database platform thenthe middleware then the applicationlayer on top of it and so on. So onewith Cloudflare having understanding ofthe database market large TAM uh that'sgreat uh and then MongoDB is also alarge TAM. So that's the sequencingbetween Cloudflare and MongoDB. Uhsecond with MongoDBwhen I truly talked to I want to saymany many customers when I did my owndiligence on MongoDBone of the surprises I had wasmissionritical apps

00:16:19whether it's ae-commerce app for a retailer or whetherit's a commercial banking app or ahealthcare app or an insurance claimsprocessing app these are a very criticalapp anddatabase industry Oracle will celebrateits 50th in year and a half. So it hasbeen around for a long time>> 50 years.>> MongoDB has been a truly disruptiveforce with being created in 2007. Soit's been only 18-ish years. So there isa large temp that could be disruptedwhether you believe database market hasbeen around 50 years or 60 years>> and MongoDB is truly the only disruptiveforce. And then the second thing Ilearned by speaking to some of thecompanies here in San Francisco area wasthat some of the digital natives uharound 2010 15 time frame and some ofnow the AI natives that I spoke to werebuilding on top of MongoDB and I'm likewow okay so there is something and whenthe founders created the company theydidn't know that hey this it was likealmost accidental al that it will befull of unstructured data and you wouldwant very high velocity and you willneed to be able to search on this whichis what AI

00:17:34application AI applicationsjust the data is so messy>> and MongoDB is perfect for that so Isaid okay cloud transition is going onit's still going on when I speak toFortune 500 I can tell you withouthesitation they are all still talkingabout I need to move x% of apps to GCPAWS Azure some combination Alibaba inEurope whatever the case might So that'sone but [clears throat] second AItransition has just started. So if cloudstarted with AWS we are in the almostapproaching 20th year and it's stillgoing on. AI will still go on and thisis a layer you must have. That's it. SoTAM must have layer no risk ofdisruption.I think it's actually a reallyinteresting observation that in thisclearly core and durable and very verylarge market the number of likepervasive disruptive technologies isvery few over many decades right and sothere's more to do>> with that starting point>> the previous CEO Dave wonderful humanbeing told me that CJ you know thatthere have many attempts have been madeby many folks to create next version ofdatabase and this and that or nextdisruptive data database. Nobody haspassed billion and

00:18:50definitely nobody haspassed two billion and MongoDB did that.So there's something special there.>> When you when you think about the likeinvestor focus on the model layer versusthe application layer or the anxietythey're they're anxious about the theSAS applications. They're anxious aboutdata infrastructure because they're youknow it feels like the way you buildapplications is still evolving veryquickly. Okay. Right.>> Yep.>> Um, and tell me if you disagree with anyof these assumptions. Uh, and thenthey're anxious about the AI nativecompanies because they're worried thatall of the value ends up in the models.So, I just feel like it's a very anxiousinvestor environment overall.>> That's the bare thesis, right?>> That is the bare thesis, but I I thinkit is like the dominant thesis right nowin the>> dominant thesis. Okay.>> Uh, well, you know, change my mind onthe assumptions. what do you feel likemore confident on you know uh uh interms of um ways in which applicationswill be valuable in the future>> just even speaking tosince 2022 I think that's probably avery uh pivotal moment with the chat GPTin the fall>> since 2022 now we are 3 years plus inthat journey I can I have

00:20:05never seenthis because it's been pretty uh staticfor a while.The future of software is in question.is definitely in question and this isfrom the investor community but alsocustomers that are asking hey should Iuse X or should I use Y and whateverright so definitely it is a very pivotalmoment on the software stack and thenyou look at the software stack and yousay okay what is the one thing that willalways be thereI mean LLMs will be there uh for thesoftware stack for foreseeable futurewhen you are truly building AIapplication that rely on that stack andeven you have seen lot of innovations inyou look at XAI came from nowhere kindof and how well they are doing overallbut that stack will be there in theagentic software framework so that's aconstant and the data layer has to bethere because you need to store datasomewhere so the data layer has to bethere. So that's the second one.Everything you know uh that is aroundthat that's going to evolve and

00:21:20youbetter show true value on whether youuse the platform analogy or whateverwhether it's the top layer of the stackwhere you really understand use case forthe insurance industry and you arebuilding an AI native company for theinsurance industry. Insurance industryhas multitude of use cases.You say okay please move from old SAS Xto new Y and this new Y the speed tovalue is going to be this fast and wewill always be ahead and things that youthought were not possible with the oldSAS are now possible because of AI.So that use case focus on the top layerbesides the LLM and the data layer uhwill still always be critical. hasstartup and individual developercustomers all the way to Fortune 10.>> Yeah.>> Almost all of them. Um, uh, what do youhear from the, you know, buyers andbuilders at the very largest companiesin terms of their real perspective onlike AI value and what they're excitedabout or skeptical about now?>> Yeah. So, I would say I feel it's atotal failure of a week if I don't speakto at least 10 customers a week. thatrequires a lot of prep, a lot offollow-up,

00:22:35but it's usually at least 10.Okay. And so I'm constantly getting thisdata points and trying to do patternmatching on what's going on. Um thefirst thing I would say is that when youthink about Fortune 500 global 2000 andthe community there, some of them arehere. Uh it is still still not movingvery fast. A lot of them tried with theoffice productivity type co-pilots.>> Unclear how much value they got out ofit. They're like, "Okay, this reallyworks with my Excel or you know, can Ireally do this thing or create aPowerPoint slide using naturallanguage?" Uh, the feedback is not greaton the value they got. The feedback oncoding assistance that kind of took offin 2024 in a meaningful way very verypositive 2024 and 20 started with GitHubcopilot then few others all the way toAnthropic uh and so on. So 2025 was abreakthrough year from my perspective onthe coding assistance and that's stillgoing on. I get very positive feedbackfrom customers. Hey, I'm using thisparticular coding assistant or this oneand it has improved the innovation,velocity, security, whatever I'm lookingat and so

00:23:50on. And then people are stilltinkering around customer support. umyou know that and on customer supportthey're like okay truly if I'm a largesay telco or I'm a large healthcarecompany can that fully be done on thisAI native company that does customer notthere yet right they are going afterinitial use cases and that's great incertain industries and [snorts]>> you mean the endto-end customerexperience>> end to end customer experience and thequestion that I get from these customersthey asked me my perspective on SAS umis that should I think about this AInative company and customer supportas an end or an or>> Mhm.>> So I have a system of record on one ofthe companies for customer support and>> we can say Salesforce.>> Yeah.>> Yes. Um Salesforce and if I'm using>> Yeah. and I'm using I have thisdisruptive company that came and saidthey can solve these problems uh dothese support cases should I think aboutthat as an and or an or ask them thesame questions you know we use thesesystems of record SAS systems of record

00:25:06and when somebody comes and says I'mlike are you a layer on the top ofsystem of record or you can replace thewhole because you will have my attentionas a leader if you say I'm going toreplace it it's going to be cheaper it'sgoing to be faster is going to be betterand oh by the way I have disruptedpricing and for the value you get that'swhen you pay me the money that's aconversation I'll have every single day>> that that's a very surprising attitudeactually I I mean I I think it isrisk-taking and the value that you'reasking for is much higher but you'reshowing openness to you know a lot ofpain or you know uh being willing toignore a bunch of the sunk cost of theimplementation of the systems youalready have>> yes>> um and having built systems of recordyourself you think that's feasible thatother people will do that too>> I mean absolutely if you are you knowour CIO here is in the audience deepaand when we have this conversation shegets approached by AI native companiesdaily multiple times a day [laughter] uhand uh when she comes and asks me how doyou think about that whether it's for goto market sales marketing whatever thecase might be I said this is how I thinkabout it that if this allows us to hirefewer our people makes our people

00:26:21moreefficientthen we will use that budget and I wantto be AI first organization on behalf ofMongoDB to say we are transforming ourbusiness not making just productiveproductive is okay but we aretransforming our business using AI>> I I think that's really interestingbecause a lot of the uh conventionalwisdom would be the system of record isso embedded that you're going to come inwith a wedge or a layer on top>> um and like that is different from whatyou're describing which is I'm going tosell platform and I'm willing to buy aplatform if the use case is good enough.>> That's correct. Um but I actually thinkyou know go coming full circle that's avery interesting opportunity for youknow MongoDB in particular because thelike one of the reasons you mightactually replace these systems of recordin this age is you want to keep muchricher information about interactions orwhatever else it is in your in yoursystem of record and uh it's messy it'sgot to something right it might not beOracle anymore.>> Yeah. I was talking to a Europeanretailer uh day before yesterday at NRFin New York and they said they triedbunch of systems of record for ERPexpensive failed implementations lotslots of issues on supply chain all theway to financials and

00:27:37decided they'regoing to invest in just building itthemselves and they are building that onMongoDB and I mean that's a great usecase and I'm like okay you had me athello and uh uh to do that but if thesekind of organizations are going totransforms within or disrupt within Iasked uh Deepa our CIO the same questionthat are there things that we can buildourselves to disrupt within on MongoDB.So that's the story and the compellingvalue we can articulate also to ourcustomers.>> Uh I want to take the last um coupleminutes that we have together to talk alittle bit about like leadershipespecially as a product person. I Ithink of you, you know, first and ofcourse as a CEO, but first and foremostas an extraordinary product person. Um Ido think you talk a lot more aboutbusiness strategy and have for the youknow decade I've known you um than manyproduct people like when did you startthinking about that as a product andengineering person because when youyou're talking about defensibility modeslike how people buy you and I don't knowthat's that's a that's a lot of businessorientation for somebody who's also youknow thinking about the product itself>> I think it was um our CEO at the timewas John Thompson

00:28:52at Semantic and thiswas early 2005ish time frame and Ilearned a lot from him and specificallyhis bar on how you interact withcustomers, how you sell to them, how youserve them, how you show up in front ofthem was very very high. And through myearly career as a product person, I wasdirector of product management. I stillremember uh I made a huge impression onme and then>> and how was it higher than otherpeople's right because I think everybodywould be like oh I'm going to be a highquality product director.>> Yeah. Um what he basically taught meSarah was hey when you speak tocustomers not only you ask them how wecan serve you better but ask them heywhat other problems they are having whatpain points they are having and you flythere you meet them you have coffee withthem whatever it is truly understandbecause it allows you to see around thecorner>> and you cannot be a great pro one of thebest advice he gave me you cannot be agreat products and engineering personunless less you speak to customers allthe time. Okay, all the time becausethat will allow you to not only do apattern match but see around the corner.So

00:30:08even when we have a platform storyand I'll say hey this is what u thisanother retailer at NRF in New York onMonday or Sunday I met him and he's aCTO reports to the CEO and I said oh soyou use MongoDB for your ecomapplication he said yep we're very happyecom is 20% of our revenue I said greatuh do you know that you are not usingour search uh do you know we also havevector search he's like oh I didn't knowthat my does my team know that and weare following up with him. But this kindof like having that customer intimacymakes you much better of a productperson. I would say any product personwho thinks as you build they will come.>> Mhm.>> That does not happen and that gives youthe orientation that how do they thinkabout deploying your product? How longwill it take uh to deploy that product?How much value they expect? And thesepeople I never say that a large bankhas bought say service now orcloudflare. I will say it is Jeremy atthis large bank who made a bet oncloudflare for example. So that has been

00:31:23for last many many years that has givenme lot of on how do sales teams show up,how do we price the customers, uh ifsomething bad happens, an outage happensor something, how do we show up uhduring the crisis? Those are the thingsthat have really made me very verygrounded product person andunderstanding the go to market channeland the business strategy. Some of thestep function jumps that you know uh alot of SAS and infrastructure companiesdon't make are from a single product tomultiple products right or maybe it'sbecause they were never platforms tobegin with but let's say like[clears throat] to multi-product>> um and then also you know it'stechnology transitions right likegot Atlas to be great and dominant but>> it was a question at some point I don'tknow if we're allowed to say that rightand you know many companies>> struggle through the cloud transitionwill now have to address the the AItransition. Um what do you thinkdifferentiates like a product andengineering organization that does itversus fails?>> Yeah, you get comfortable and I stillremember we were early on service now onAI and when I'll speak to ourengineering team they're like oh this isjust something

00:32:38that's out there not sureand I said no not leaning in is not anoption.>> Mhm. not Ling this is a platform whetherit matures two years from now or fouryears from now we have to do that so Ithink it is a more of a changemanagement thing because if you aredoing something really really well>> I mean I'm going to date myself youthink about Nokia handsets they weredoing really really well>> and even if you think about Blackberrydo you know that when actually iPhonelaunched I think I want to say three orfive quarters after now after the iPhoneBlackberry was still selling a lot andwas not being disrupted until it gotreally disrupted. So this transitionsyou know is a more of a changemanagement thing and that's when youachieve the staff function to say likeMongoDB did the atlas transition ormultiloud transition nicely and theyhave to do the AI transition nicely.Fortunately, a lot of architecturaladvantages are there, but they stillhave to nail it and get the trustinformation from the customer and that'swhen it happens. Otherwise, you are onthe bare thesis that I'm not sure andthe only way you proveinvestors wrong on the bare thesisbecause sometimes they don't get itright

00:33:54by reacelerating and showing thathey, now we are back. We're out on timehere, but and and but I think this issuch an interesting question of uh canthe incumbents get AI right or not. Umand one of the dynamics that I think isworrying people is one of the ways yousell as a very large incumbent is youbundle a bunch of products together.>> Yes.>> And then you call a piece of the productthat may or may not be working forcustomers cloud or you call it AI andyou do like let's say a bunch of likepricing hy jinks to like make thenumber. Um, and I I look at this and Ithink it's so interesting because somany talented people work at any ofthese incumbents. And so my observationwould be you absolutely need people whoare committed to those transitions. Aleader with you know innovation as theirlike um north star and you also needlike some guard rails for intellectualhonesty in the organization between whatlike what is working for the 10customers [clears throat] you talk toevery week and the street.>> Yeah. Right. I agree and the only thingI would say that's why even uh MongoDBpublished our Q3 results I got askedthis question over and over again. Isthis because of AI? And I saidabsolutely not.

00:35:09Yes. Uh>> you're not allowed [laughter] to saythat.>> Yeah. No, I said this is our core andour core on CNBC I said it's our core.Yes, we have AI native companiesbuilding on MongoDB and we have hundredsof them. But that's not because oncethen I give them x%of this is how I think about AI nativecompanies then they're like you canoptimize for that.>> Yeah. Yeah. And then you go into adifferent cycle and I said yes you knowwhenever they do something at scalebecause let's look at it like if youthink about however you define successfor AI native companies whether it's 100million AR R billion AR R pick one thereare like 10 companies like that today.Mhm.>> Today, right? There are not that manycompanies and if there are not that manysuccessful companies, they won't have alot of data. Some of them who have datauh do use MongoDB, right? So, from mystandpoint, this will be an end, not anor that when AI wave really takes offthat will of course add, but our coredata platform and core business is stillgrowing. That's the answer I gavebecause that was the truth.>> Thank you so much for doing this.>> Yes. And thank you very much. I reallyappreciate it. Thank you. [applause]Find us on Twitter at no prior pod.[music] Subscribe to our YouTube channelif you want to see our

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