Early Stage VC at PHX Angels
Phoenix, AZ
Joined July 2012
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Aaron Favreau retweeted
Arizona has become a destination for entrepreneurs ready to turn bold ideas into thriving businesses. More than a place to relocate or expand, our state is building a dynamic ecosystem where founders can launch, innovate, and scale.
We’re proud to be at CapCon alongside so many founders, investors, entrepreneurs, and partners, showcasing the momentum behind Arizona’s growing innovation ecosystem.
A big thank you to @ClateMask, @aaronfavreau, the @PHX_FWD team, PHX Angels, and everyone who helped bring this event together!
The $150M isn't the impressive part. It's looking at $100M plus of revenue that works and deciding it's probably worth a lot less in 5 years, then actually acting on it. Most companies wait until the numbers force them to. Great read.
We built a $150M ARR business twice.
The first time took 8 years. The second took 2.5.
Today, Podium crossed $150M in AI annual recurring revenue.
Three years ago, we already had a great software business. Well over $100M in revenue, tens of thousands of customers, and a product we'd spent nearly a decade building.
And we decided to start over.
The business was performing well. But we believed AI was going to fundamentally change the software industry and make much of traditional software obsolete.
As a founder, you pour your life into what you're building. An insane amount of time, sacrifice, and effort. The hard part is not getting too attached to it.
When we started building our first AI agents, we had to confront the possibility that much of what we'd built might not be that valuable in the future. That's a tough pill to swallow.
But we also realized those same 10 years had put us in a unique position to take advantage of what AI could do for our customers.
Instead of protecting what we'd spent a decade building, we decided to bet the future of the company on AI employees that actually do the work for our customers.
We massively underestimated what we'd signed up for.
We ended up building entirely new operating systems for the industries we serve, from the AI agents all the way down to the systems of record. Now customers run their entire businesses on Podium.
Reinventing our product wasn't even the hardest part. We had to reinvent how the entire company operated.
When you've been running a company for over a decade, the operational inertia is incredibly powerful. We had to rethink how we build products, how we sell, how we serve customers, and how we run the business.
We effectively started a second startup inside an already successful company. And we're still at the very beginning.
Today, we have 20,000 AI agents working for our customers. They've helped generate more than $13 billion in revenue for those businesses. And we're barely scratching the surface of what AI will be able to do for them.
And we've done all of this while becoming profitable and generating free cash flow. We're building Podium to be around for decades.
Huge credit to our team for having the guts to make this bet and the ability to actually pull it off. We still have a long way to go and tons of problems to solve, but it's so damn fun to be winning when the opportunity ahead is this big.
In the age of AI, you can either disrupt your own company or wait for somebody else to do it.
I'd rather do it ourselves.
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Aaron Favreau retweeted
We built a $150M ARR business twice.
The first time took 8 years. The second took 2.5.
Today, Podium crossed $150M in AI annual recurring revenue.
Three years ago, we already had a great software business. Well over $100M in revenue, tens of thousands of customers, and a product we'd spent nearly a decade building.
And we decided to start over.
The business was performing well. But we believed AI was going to fundamentally change the software industry and make much of traditional software obsolete.
As a founder, you pour your life into what you're building. An insane amount of time, sacrifice, and effort. The hard part is not getting too attached to it.
When we started building our first AI agents, we had to confront the possibility that much of what we'd built might not be that valuable in the future. That's a tough pill to swallow.
But we also realized those same 10 years had put us in a unique position to take advantage of what AI could do for our customers.
Instead of protecting what we'd spent a decade building, we decided to bet the future of the company on AI employees that actually do the work for our customers.
We massively underestimated what we'd signed up for.
We ended up building entirely new operating systems for the industries we serve, from the AI agents all the way down to the systems of record. Now customers run their entire businesses on Podium.
Reinventing our product wasn't even the hardest part. We had to reinvent how the entire company operated.
When you've been running a company for over a decade, the operational inertia is incredibly powerful. We had to rethink how we build products, how we sell, how we serve customers, and how we run the business.
We effectively started a second startup inside an already successful company. And we're still at the very beginning.
Today, we have 20,000 AI agents working for our customers. They've helped generate more than $13 billion in revenue for those businesses. And we're barely scratching the surface of what AI will be able to do for them.
And we've done all of this while becoming profitable and generating free cash flow. We're building Podium to be around for decades.
Huge credit to our team for having the guts to make this bet and the ability to actually pull it off. We still have a long way to go and tons of problems to solve, but it's so damn fun to be winning when the opportunity ahead is this big.
In the age of AI, you can either disrupt your own company or wait for somebody else to do it.
I'd rather do it ourselves.
Startups don’t need 50 engineers anymore. They need 5 A-players and the right AI stack. Capital required to build is dropping fast.
→ MVPs in days
→ $1M+ revenue per employee
→ Tiny teams, big output
If you’re not building AI-native, you’re burning cash.
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A huge thank you to @DougDucey for sharing invaluable insights on leadership and management. This event showcased the vibrant community of innovators and trailblazers that call AZ home.
Thank you to @chadheywoodaz and @KirkAdams for sponsoring the event!
Got to speak with young entrepreneurs and innovators with Maverick Collective here in Phoenix about leadership at @ColdStone and in the Governor’s Office, and what we are doing now with @Citizens4FE to promote and protect free enterprise across the country.
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Aaron Favreau retweeted
Got to speak with young entrepreneurs and innovators with Maverick Collective here in Phoenix about leadership at @ColdStone and in the Governor’s Office, and what we are doing now with @Citizens4FE to promote and protect free enterprise across the country.
He’s not wrong…
This NBA player — and new dad — says installing a car seat is harder than making a clutch free throw. | By Krysyan Edler
deseret.com/2023/12/4/239883…
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With all the negativity in politics today, this is a much needed bright spot. Love to see it.
Aaron Favreau retweeted
THANK YOU, #AZ06!
In the best country in the world where anything is possible, I am now honored to represent my hometown in the U.S. Congress. I am ready to serve, find solutions for our district’s challenges, & be a strong independent voice for our community. #AmericanDream 1/
This is absolutely amazing. @JuanCiscomani and family is an example of the American dream. I am so proud to see him running for office.
Full American Dream circle moment: almost 30 years ago we immigrated to the U.S. as a family. And now as a family, we get to cast a vote for one of us on the ballot. Only in America! 🇺🇸 #AZ06
I had the pleasure to work with @CCorieri for several years and she is the smartest person I know. If I ever had a complex policy question, she was my first call. @ccbewise is lucky to have her!
No one has served my administration longer than @CCorieri. She is a dedicated public servant who has been instrumental in the most critical health and human services policies we’ve faced. I’m grateful. Her commitment to Arizona is inspiring. We wish her continued success!
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Congrats @JuanCiscomani!!! Absolutely the best choice. On to November!
I am honored to be the Republican nominee in #AZ06! Thank you to all the voters for delivering a strong victory for our district and for our community. I am humbled. On to November! 🇺🇸
Aaron Favreau retweeted
I am honored to be the Republican nominee in #AZ06! Thank you to all the voters for delivering a strong victory for our district and for our community. I am humbled. On to November! 🇺🇸
Aaron Favreau retweeted
I've seen enough: Juan Ciscomani (R) wins the #AZ06 GOP primary and will face Kirsten Engel (D) in the fall. @CookPolitical November rating: Lean R.
Wow! @Karrin4Arizona went from 25+ points down to tied with a week left in the race. Karrin is about to pull off the greatest upset in AZ political history.
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Boom! Arizona is the place for new, innovative technologies. AV will revolutionize transportation, and it happening in our backyard. Well done to the entire @Waymo team!
Very excited to share that @Waymo has started driving with employees @PHXSkyHarbor, marking the first airport in which we’ve ever tested. 🛫Learn more here: bit.ly/3wpklVO
Way to go @AnniLFoster!!
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Great read. We tend to think the work of our government is what we see on twitter and the news. The reality is much less politicized and polarized. Moral of the story: Let’s spend less time on political fights and more on governing. sltrib.com/opinion/commentar…
