dharmesh
@dharmesh
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Co-founder/CTO, HubSpot. Mission: Help millions grow better. Write articles about startups, scaleups and growth at (free subscription).
Boston, MA
Joined March 2008
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I've been furiously coding away every night on a new project.
Thrilled I can finally share it with you.
ChatSpot is something I built for myself.
Check out the launch video:
It's the all-in-one ChatGPT-powered tool to help you grow better. It's in…
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Some of the biggest breakthroughs I've had are when seemingly random "dots" in my life ended up connecting in delightful and unexpected ways.
It's why I love this quote from Steve Jobs:
"You can't connect the dots looking forward; you can only connect them looking backwards. So…
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It's never too early to plant the seeds of simplicity in your company.
Start with the simplest possible thing that could work, and then see what happens.
You will have to fight for simplicity, because complexity is in insidious force that seeps in.
From my podcast episode with…
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How do you pick the right idea for YOU?
Four things to consider:
1) Potential for the idea. If successful, what's the outcome?
2) Probability of success. What are the odds?
3) Passion for the idea. Is it something you care about?
4) Prowess. Do you have particular skill,…
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tl;dr: Woo hoo! HubSpot has some MAJOR product updates we're spotlighting today. Trust me, THIS IS BIG.
HubSpot was built with the spirit of reinvention.
We started as a simple set of applications for marketing.
Over our ~18 years, we've evolved into a full CRM and customer…
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Not bad for an introverted kid from a tiny Indian town.
I have a simple plan.
Invest most of this (90%) in what I'm passionate about:
1) Elevation (human rights, environment)
2) Innovation (startups, open source, community)
3) Education (increase opportunity for all)
Surging HubSpot stock makes the software firm's cofounder a billionaire
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Got to see
@lexfridman
live at the MIT A.I. conference.
Not sure if he realizes how much people respect and admire him.
Including me.
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Just the initiative I was looking for.
I will match
@balajis
donation of $50/RT up to $100k to help India fight the COVID tragedy.
Thank you. 🙏
If you’ve been fortunate enough to do well this year, consider joining me and
@VitalikButerin
by donating at the addresses below.
But if all you have is Twitter, help spread the word. For every RT, I’ll donate another $50 to fight COVID in India, up to $100k.
#cryptovscovid
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As you scale, you add people with low tolerance for risk, but high tolerance for process.
Left unchecked, the "process people" will overwhelm the "risk people".
Adding process is natural, taking risk is not.
You need to push and support the taking of calculated risks.
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Thanks,
@balajis
for the inspiration.
As promised, just sent $101k in BTC to
@sandeepnailwal
for donation to India COVID relief efforts.
I loved how simple this was to do. It both raises funds *and* raises awareness.
Cheers.
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Woo hoo! HubSpot's INBOUND 2023 event is officially SOLD OUT.
If you don't want to miss out, we'll be live-streaming the event for FREE. Signup here and you're in (and we can send you the recording afterwards if you can't make it live):
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Stressed-out right now.
Delivering a presentation in 9 hours.
70+ slides.
7,000+ people.
Super-high stakes.
It's the HubSpot All-Hands.
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Was leaving to go the HubSpot office for meetings and my son told me I was "drippin".
I don't generally leave the house and he's not used to seeing me in anything other than pajamas.
Better yet, my wife joked that I had rizz (word of the year!) and grabbed a photo of me…
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Lesson from the early years of HubSpot:
Don't try to convince people you have a better solution than your competitors.
Convince them that you picked a better problem to solve.
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The startup graveyard is full of companies that obsessed over their competitors instead of obsessing over their customers.
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When Olympians are obsessed with training, we think how amazing. So dedicated! Inspiring!
But when people are obsessed with their work/job, people think how sad. You need a life! You need balance!
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When a new business inside Amazon grows to $10 million, the overall company is growing from $10 billion to $10.01 billion. It would be easy for senior execs to scoff. But they don’t. They watch the growth rates and send congrats. That’s pretty cool.
"Invent and Wander"
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The whole "10,000 hours" thing is bogus. It doesn't work.
I watched 10,000 hours of stand-up comedy and I'm still not hilariously funny.
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The secret that underlies most successful entrepreneurs:
The ability to switch back and forth between the creative mind and the constant grind.
Again, and again, and again.
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Success Is Making Those Who Believed In You Look Brilliant — Medium
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Good things come to those who wait.
Great things come to those who wing it and iterate.
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Product Led Growth is great.
What I'm excited about now is Community Led Growth.
Companies that create a massive community for their category and facilitate connections will win hearts, minds and market share.
Community is a catalyst for growth.
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Still the best advice on copywriting, ever:
"Do not address your readers as though they were gathered together in a stadium. When they read your copy, they are alone. Pretend you are writing each of them a letter. One human being to another, second person singular."
~Ogilvy
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Hot take: There's a very simple reason
@OpenAI
is winning the A.I. platform race against Google and others.
They actually understand and care deeply about developers.
When building a platform in a fast-moving space, success is measured not by an abundance of words in your…
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This is the product I am most proud to have been a part of.
That I've invested hundreds of hours in over the span of a decade.
Yes, it's a slide deck. But, it changed my life and changed
@HubSpot
's trajectory.
I offer it with love. Hope you like it.
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BREAKING NEWS: I bought the domain name .
tl;dr: I did it because
#ChatUX
is a Very Big Deal.
Details posted here (so I don't have to answer 100 DMs and emails from friends, family and colleagues).
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Woo hoo! HubSpot has now reached the 200,000 customer milestone.
It took us ~15 years to get to the first 100,000. Then ~3 years for the next 100,000.
Our mission is still to help millions of organizations grow better. So still a lot of work to do and fun to be had.
Thanks…
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Fun Fact Friday: HubSpot was never a unicorn.
But, on average, we have added more than a unicorn ($1B+) worth of valuation every year for all 15 years since we were founded.
Most of that was after $HUBS IPO, so thousands benefited. That makes me happy.
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2 months ago, I bought the domain for $10M+.
Here's what happened next:
tl;dr: Sold it for a profit and am donating $250k+ to
@khanacademy
.
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There is a profound joy in surprising those who underestimated you.
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Still processing the news that Sam Altman was let go by the OpenAI board.
I'm biased, but I thought he was uniquely suited to growing OpenAI.
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Susan Cain (author of "Quiet") totally gets me:
Introverts, may have strong social skills and enjoy parties and business meetings, but after a while wish they were home in their pajamas. They prefer to devote their social energies to close friends, colleagues, and family. They…
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Descript is one of those startups I wish I could have angel invested in.
Such a brilliant product.
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Someone should write an academic paper on succeeding in SaaS:
"Retention Is All You Need"
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Whatever you do, don't play it safe. Don't do things the way they've always been done. Don't try to fit into the system. If you do what's expected of you, you'll never accomplish more than others expect.
~Howard Schultz (Starbucks)
Growing up, I was routinely underestimated.…
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Most companies need a "Chief Simplification Officer" more than they need a "Chief Innovation Officer".
#simplewins
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I turned 30 today!
Not as a human (I wish!), but as a software entrepreneur.
30 years ago today I started my first company and have been doing software startups ever since. And yes, I started my first company on April Fool's Day. I was 24 years old and completely clueless.
Fun…
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Microsoft (3 months ago): Google's the 800 pound gorilla and I want people to know that we made them dance.
Google (last week at I/O): Let's dance.
* Grabs 🍿
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I know Discord is all the rage these days, but its user interface makes my head hurt.
Anyone else feel that, or is it just me?
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The best product managers aren't product managers.
They don't "manage" product -- they BUILD product.
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“Every interesting thing I’ve ever done, every important thing I’ve ever done, every beneficial thing I’ve ever done, has been through a cascade of experiments and mistakes and failures."
~ Jeff Bezos, founder of Amazon
Same.
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In a SaaS business, approximately 100% of your energy should be spent on things that increase retention:
1) make the product better
2) sell better fit customers
3) invest in education
4) proactively reach-out to those not getting value
5) increase adoption of "sticky" features
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I was invited once again to be on the MFM podcast with
@thesamparr
and
@ShaanVP
.
We talked all things A.I. and why this may be the biggest entrepreneurial opportunity in 30+ years.
Hope you find it useful/entertaining.
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Absolutely Nobody: Why do you need a MacBook with 8TB of SSD?
Me: So I can one day run a large language model with 65B parameters locally on a computer I carry around.
What a time to be alive.
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Entrepreneurs will live 347 lives.
One for every Internet domain they have purchased.
Every domain is the dream of a project not yet started and a life not yet lived.
---
What's the best domain you've purchased when dreaming of the future?
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I'm moving to an async model of working.
Yes, an email discussion takes more total time than a 30-60 min meeting.
But all time is not created equal. A meeting cuts up my day. Emails can fill cracks in my schedule.
Bonus: You don't need to take notes for an email discussion.
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As a startup:
At first you fight death.
Next you fight stagnation.
Then you fight complexity.
It's a noble fight.
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Want to support Black leaders in tech?
@devcolororg
is the career & community accelerator for Black engineers, technologists, and execs.
For every like and retweet of this post, I’ll donate $10 (up to $50K).
Easy way to support a great cause.
#techforgood
#philanthropy
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HubSpot turns 17 years old next month.
It really has been quite the journey.
Still having fun after all these years.
My heart-felt thanks to our customers, partners and team.
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I'm a fan of systems thinking.
I'm an even bigger fan of systems doing.
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"The single most powerful pattern I have noticed is that successful people find value in unexpected places, and they do this by thinking about business from first principles instead of formulas." ~
@PeterThiel
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"A Founder's job is injecting risk into the business. It's flooding it with new ideas, stuff that seems hard to do, ideas that no one else would dare try, placing the kinds of bets that only someone who started the damn thing would be willing to wager."
~
@jasonfried
I do my…
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Fun Fact: Berkshire Hathaway Chairman Warren Buffett accumulated nearly 90% of his wealth after the age of 65.
Hopefully, that means the rest of us still have time.
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This is the thing I've been most excited about and tinkering with. Nice that I can finally talk about it.
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Woo hoo! HubSpot reached a couple of major milestones.
$1 Billion (with a "B") in ARR.
But, I get much more joy from this: 100,000+ customers are growing better with HubSpot.
Thanks to all of you for your support and love.
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The OpenAI Assistants API with retrieval built-in is going to be game-changing.
So much time has been spent by so many developers (including me) trying to implement RAG. OpenAI is going to make that easy.
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HubSpot's a pretty big company (~8,000 people) but we've managed to avoid this death spiral.
Things that have helped:
1) Small teams with high autonomy
2) Hold regular "science fairs" where teams show off what they *shipped*
3) Closely connect our product team to customers,…
Startup vs Big Company Dynamics
Startup
• Observation: Users want a new feature.
• Designer (60 min later): Here are some figma prototypes.
• Engineer: We can ship this by the end of the week.
Big Company:
• Observation: Let’s discuss our observations when Suzy’s back;…
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Final update on my socially-powered fund raise for
@KhanAcademy
: We ended up with 17,664 likes + 714 comments = 18,378. I rounded up to 20,000 and made a donation of $200,000.
Normally, I like to do these things anonymously, but this was fun!
Thanks, and Happy New Year!
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What's often more important than Product Market Fit (PMF) is PGTMF.
Product Go-To-Market Fit
Your GTM needs to match the product you have.
Don't take a complex product that requires customer behavior change and try to sell it in a touchless way.
Tools are bought.…
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It's past 2am on a Saturday night during a long weekend.
I'm furiously coding away on a new product. One I find myself using every day.
Scratching your own itch generally leads to better software
Stay tuned.
#goodtimes
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I'm fascinated by simplicity and clarity.
“Amazon is Earth’s most customer-centric company.” (6 words)
"HubSpot helps millions of organizations grow better." (7 words)
“Google organizes the world’s information and makes it universally accessible.” (10 words)
“Coursera…
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Simplicity drives sales.
If you want to sell more, make people think less.
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Google should really create vector embeddings for all of our email in GMail and provide semantic search.
Meanwhile, I'm personally creating 4.5 million vector embeddings (1M+ already done). It is already super useful.
Yes, I know there are startups likely already working on…
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Rule 1: When in doubt, just make the product measurably better for the customer.
Rule 2: Always be in doubt.
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The Journey From Startup to Scaleup:
1) First you dodge death.
2) Then you battle stagnation.
3) Finally, you combat complexity.
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If you could wave a magic wand and have *everyone** in your company read one book to make the business better, what would it be?
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The quality of the result is almost always a function of the number of iterations.
It's about going through the grind again and again and again.Even when you're only getting marginal improvements.
Remarkable work is the result of remarkable perseverance.
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HubSpot's diabolically simple plan for expanding our dev ecosystem:
1) Make a platform that is a joy to build on.
2) Be a company that is a joy to work with.
That's it.
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“Those who do not want to imitate anything, produce nothing.”
~Salvadore Dali
Idea for entrepreneurs: Take an idea/product that already exists. Make it simpler. Make it more accessible. Make it more joyful.
Make it better.
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To succeed, you don't have to get everything right.
You can get a lot of things wrong.
You just have to get a few of the right things right.
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The most underrated skill in business and in life is empathy.
The second most underrated skill is gratitude.
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Have been binge-watching the breakout session videos from OpenAI Dev Day for the past 3+ hours.
Really great content.
If you're not a developer, I'd start with this session with product builders from Shopify and TypeForm:
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Trying something new that's a bit...out there.
I'm noodling and tinkering with a new (free) hobby project called .
Because I (and others smarter than me) think agents are where A.I. is headed.
But, I believe in building community alongside product.…
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Here's the full video of my
#inbound23
keynote "Falling In Love With AI".
This time with FIVE dad jokes (instead of just 3).
All feedback is appreciated.
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As a developer using GPT-4, this is the most exciting thing I've read all month:
"When you call the chat API today, you have to repeatedly pass through the same conversation history and pay for the same tokens again and again. In the future there will be a version of the API…
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You can tell more about a company by how it treats customers on their way out, than on their way in.
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I'm always interested in what smart people are reading.
I'm even more interested in what they are re-reading.
Great books keep delivering value on subsequent reads because though the book hasn't changed, *you* have changed.
What have YOU re-read recently?
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My son (who is 11) completely surprised me today.
I am back home tonight after a fun week at
#inbound22
.
While putting him to bed, he told me I did a great job with my talk and that he was proud of me.
I'm not crying, you're crying.
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You don’t need to have natural talent to learn something.
Talent just affects the rate at which you learn a skill.
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Winners have:
A mission that is clear,
a strategy that is cohesive,
and execution that is consistent.
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Sleep is that time when you're working on your startup with your eyes closed.
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Internet domain names are the OG NFTs (non fungible tokens).
1) They are digital
2) They are non-replicable (only one person/entity can own a domain at a time)
3) People pay real money for them
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Modern media companies have a software company embedded inside.
Next-gen software companies will have a media company embedded inside.
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Your probability of success is proportional to the number of people that want you to succeed. Work to keep increasing that number.
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HubSpot turns 17 years old today. Still having fun after all these years.
Heart-felt gratitude to all of our customers, partners and the amazing HubSpot team.
It's been an honor and joy to be on this journey.
* Also, we're just getting started. Lots of exciting things ahead.
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It's midnight. Time for my annual tradition of curling up into the fetal position and becomingI a stress ball.
It's the night before my keynote at
#INBOUND23
with a live audience of 10,000+ and many more on the livestream.
I'll be fine once I'm on stage. It's the anticipation.
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Thrilled to welcome
@YaminiRangan
as the new CEO of HubSpot.
@bhalligan
and I look forward to having her head this new chapter of HubSpot.
Exciting times ahead.
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In writing classes, Amazonians learn to avoid vague language, or “weasel words.” Instead of saying “nearly all customers,” be specific: “87 percent of Prime members.” Instead of saying “significantly better,” be specific: “an increase of 25 basis points.”
~Bezos Blueprint…
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