Number
UserTesting: $100M+ revenue from only 2,000 organizations
Sam notes UserTesting does over $100 million in revenue across just 2,000 customer organizations, illustrating how a land-and-expand B2B tool grows account value over time (from a tiny startup spend to Coca-Cola and Hilton).
$2K
Customer organizations · organizations
“Another example. So look, UserTesting, Abrey, you just said they do over $100 million in revenue and they only have 2,000 organizations who use it.”
Framework
Munger: if 10% of people don't complain about your price, you're too cheap
Tai defends charging for value, invoking a Charlie Munger heuristic on pricing. He argues there is so much harmful product sold cheaply that creators shouldn't fear charging for genuine value.
“people, if you bring value, charge money. There's so much stupid stuff. McDonald's makes $25 billion selling diabetes to people, and Coca-Cola. So it's like, hey man, one thing my mentor told me, if you have value, never be afraid to charge. And the people who get— Charlie Munger says if 10% of people don't complain about your prices, you're too cheap.”
Steal thisRaise prices until at least 10% of buyers complain; if nobody complains, you're leaving money on the table.
Number
The US bottled water market is $20 billion a year
Mike sizes the opportunity: in 2019 the US bottled water market alone was $20 billion, with still water just under $15 billion and sparkling about $3.5 billion. Convenience stores are the largest channel by doors at over 150,000 locations.
$20000M
US bottled water market size (2019) · USD/year
“the bottled water market in the US alone was $20 billion for just bottled water. Wow. Still water made up a little under $15 billion of that $20, and sparkling is about $3.5 billion.”