Gurley calculates Zoom and CrowdStrike each left $600 million on the table by underpricing their IPOs.
“And I can make the argument that's malfeasance, but everyone's writing this stories about how wonderful it was.”
Gurley explains CrowdStrike's network effect where threat-sharing makes the largest security network most valuable.
“the way that it worked for them and the way that the marginal customer ends up with more utility is if the threats are shared across a network, then if you belong to the biggest network, then you get the shared learning of everyone in that network, which lowers your threat exposure.”