
Cem Garih
666 posts

Cem Garih
@cemgarih
Formus Capital | Alarko Holding | Yenibirlider Derneği




My first interview with Shuo Wang (@shuooo), Co-Founder & CRO of @Deel. 1:08 Designing Deel To Scale Quickly 3:28 Why Companies Should Go Global Early 7:30 Building Deel’s Sales Team 10:33 Why Shuo Loves Sales 14:44 Pivoting 3 Times During YC & Being Shameless 19:06 Dreaming About Intercom 22:04 Solving Payment Delays Early On 25:11 Joining YC As A Crypto Payment Platform For Content Creators 32:37 How To Make Decisions Before You Have Data 36:30 Why It Was So Painful To Open Corporate Entities During Covid 39:57 Thinking Outside The Box 44:15 Why Covid Was “A Lifetime Opportunity” For Deel 46:11 Deel Speed 47:55 Argentina & Brazil 50:07 Interviewing Deel’s First 400 Employees 51:33 Screening For Happiness 52:59 Creating Ghost Busters (Special Projects Team) 59:16 Having A Co-Founder You Can Rely On 1:03:31 Why Offsites Are Important 1:06:07 Torturing Yourself Into Greatness 1:07:20 Learning How To Run A Business From Her Mom 1:11:26 Growing Up In China With Her Grandparents 1:15:51 Moving To The United States At 16 1:24:13 Building An Air Purifier Company In China 1:30:18 Being An Outsider In Silicon Valley 1:31:08 Focusing On One Product vs. Building Multiple Products 1:32:46 What PMF Was Like At Deel 1:34:46 How Shuo Thinks About Risk 1:37:18 Understand The Problem, Not The Solution 1:42:08 Creating An 11-Star Customer Experience 1:43:44 What Makes Alex Special 1:46:00 Poker 1:46:43 Always Look At The Positives Even In Tough Situations


Excited to raise $4B+ in our latest fundraise! We shared that we will primarily be using the capital to invest in: 1️⃣ Lakebase Postgres - serverless database for Agents 2️⃣ Agent Bricks - high quality agents that can reason on enterprise data 3️⃣ Databricks Apps - Data Intelligence Apps built on Lakebase and Agent Bricks As part of this we also disclosed: 🚀 Crossed $4.8B revenue run-rate, over 55% YoY growth 🚀 Crossed $1B of revenue run-rate for our Data Warehousing product 🚀 Crossed $1B of revenue run-rate for our AI products 🚀 Continued to be cash flow positive in the last 12 months Big thanks to Insight Partners, Fidelity Investments, and J.P. Morgan who led the round. databricks.com/company/newsro…




Kalshi raised $1B at an $11B valuation. A decade ago, only a few thousand people knew what a prediction market was. Eighteen months ago, most prediction markets were banned - until we overcame the government to set them free. Over the past seven years, our community has opened up an entirely new category. Today, Kalshi is trusted, used, and loved by millions of people. It’s a part of everyday culture, and it’s driving one of the most important shifts in consumer behavior in recent history. The time has finally come for prediction markets to achieve their full potential and we are intent on making that happen. To all the believers and the early adopters: thank you.


We completed our recapitalization. The non-profit, the OpenAI Foundation, is now one of the best resourced philanthropies ever, with equity valued at ~$130B. It continues to control the OpenAI for-profit, which is now a public benefit corporation. openai.com/index/built-to…

We grew to $1B ARR faster than Stripe, Salesforce, and Palantir, while being 100% remote This was a combination of a lot of luck, focus and an excellent team Looking back, I can our team's success boils down some key principles I'm sharing in a 700-word long post: I hope that it will help every startup as much as it helped us: 1. Everything is sales. Recruiting is sales. Fundraising is sales. Retaining your best talent is sales. Dating is sales. And sales is sales. A founder’s effectiveness = (technical skill × ability to sell). 2. You need to be in the details. The best founders can zoom all the way in and out. If someone tells you to “scale yourself” by pulling back too early - they’re wrong. Being in the details is important to understand what org structure best fits your company's goals. Every 'in the weeds' founder designs their org structure from first principles. Jensen: 40 direct reports, Elon: Engineers in charge of everything, Jobs: Creative Dictatorship with Directly Responsible Individuals. Zuck: The first growth-hacking team with @chamath Founders not in the details forget what makes their products great and eventually recede into designing a standard org with standard departments which lead to standard results. 3. Your company's fate is 70% sealed by the first 20 hires Ben Horowitz: "I got this advice like 27 times. They said 'Look, here's the key: Hire A players:' and I was like ok yeah, my plan was to hire a bunch of morons but now I'm going to hire A players" The hard part isn’t intent, it’s judgment. The problem is you can't spot a top 1% engineer if you're not a top 10% engineer yourself. This applies to everything. Your definition of great is just what you've seen. Founders have some blind spots. Technical founders usually build bad marketing orgs. Sales-focused founders sometimes build mediocre product teams. You need the right eyes to be able to spot genius. Ego aside, bring on a technical expert and have them vet talent for you. Your first hires are your culture, your standard, your work environment. They are the company. Get the first 20 hires right. 4. Live with your customers. You can’t know what’s working if you’re not talking to them - all the time. Be where they are: WhatsApp, calls, DMs, in person. The closer you are to customers, the fewer mistakes you make. "The customer is the boss. They can fire everybody by choosing to spend their money elsewhere." - Sam Walton 5. Be extremely responsive. If I reply in 30 seconds, what usually takes a day gets done in hours. What takes hours gets done now. Speed compounds. 6. Your TAM is limited by your imagination, not by the market. Constantly rethink the pod, find other big issues that need solving and are valuable, and solve them exceptionally well. We went from contracts ($100M) to Employer of Record ($300M) to Payroll ($200M). Each 3x'd the TAM. 7. Never run out of cash. The only way a business dies is by running out of cash. Profitability = power. You call the shots, not investors. You can always act in the company's long-term interest because you know you are safe. We reached Series A after spending <10% of our seed. We have been profitable for the last 3 years. Cash discipline buys freedom. 8. Over-index on angels early. Angels are your best shot at making important people care - when it matters. They might not be involved day to day, but when you really need help, they’ll show up. If you don't know how to solve a problem, you should know at least a person who knows the person who can. Pick the right ones, and time your asks well. 9. There's always something out there that can kill your company. Your job is to de-risk the company. Capital, talent, and products are all a small part of a larger effort to de-risk your startup and build an enduring business. Covid-induced work from home grew our payroll and EOR business. And it seemed like RTO might kill it. But we were prepared. If you worry, you won't have to worry. 10. Stay focused. Fundraises, competitors, headlines - all noise. Focus on your customers. Focus on your product. Keep executing. In the long run, the most relentless team wins. 11. Trust your instinct. If something feels off - it probably is. Dig deeper. Courage in your convictions matters, especially as the team grows. Don’t let “performative democracy” slow you down. As long as you’re in the seat, lead decisively - and unapologetically.

FOUNDER MODE. @shuooo and team just raised $300M at a $17.3B valuation for @deel and instead of celebrating, she’s on zoom signing new customers.

Deel has raised $300M at a $17.3B valuation We started about 6 years ago, struggling to even make $10K. I've never shared this before because of how embarrassing our start was. The story of how we went from $1K to $1B and the advice I'd give to my younger self:




