Fact 19
Morgan Chen changed the core framing for Scaffold’s March 2, 2023 deck: product and team execution met their commitments, while the fundraising miss resulted from timing, buyers freezing, and unusual budget conditions rather than an execution failure.
Source evidence (1)
000189Mar 1, 2023 / 10:00 UTC-08:00
ok so for thurs deck i'm changing the spine a bit. not gonna pretend the round slipped bc we missed execution -- by the product bar / team bar we did what we said. the miss was timing + buyers freezing + budgets getting weird, and i think saying that cleanly is better than contorting into fake self-flagellation. need one slide on the bridge that is actually concrete -- amount, months, what it buys, what we are not hiring. probably show base case on current burn and the q3 push as the point where we re-open offense. not gonna call it a reset. just bridge + targets. also need to name the retention hole plainly -- logo retention is decent, usage on the core cohorts is better than the topline makes it look, but we still don't have the clean expansion/seat story in one place. Devon has pieces in Looker, CS has the renewal notes, none of it ties out clean enough for board yet. i'd rather say data gap than overclaim -- reason is they'll smell it immediately if we sand it down.
Message 000189 in history