Public SaaS companies are growing faster—but private equity–backed SaaS companies are doing it more profitably. In this episode, AJ and Asad dig into new data from David Spitz comparing ARR growth and EBITDA margins across both groups, and debate what’s really driving the difference: lower R&D spend, selection bias, or superior go-to-market execution. They also unpack the implications of long CAC paybacks, PE-style operational rigor, and whether most founders truly understand the capital partners they’re signing up with.

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Key Chapters:

(00:00) - Introduction to Topline Podcast and Episode Overview

(02:42) - Exploring SaaS Growth Metrics and Margins

(05:29) - The Role of R&D in SaaS Companies

(08:32) - Understanding CAC and Payback Periods

(11:22) - Cohort Analysis and Its Importance

(14:34) - Navigating Board Dynamics and CEO Challenges

(17:26) - The Importance of Understanding Investors

(20:39) - Lessons from Previous Funding Rounds

(23:34) - Market Dynamics and Founder Challenges

(26:25) - The Impact of Market Conditions on Founders

(29:39) - Acquisition Strategies and Long-Term Vision

(32:34) - The Future of LinkedIn and Social Networks

(35:42) - Conclusion and Key Takeaways

(36:10) - The Evolution of LinkedIn and Market Dynamics

(38:30) - Challenges in Product Market Fit and Email Cadences

(40:45) - The Challenger Sale: Relevance and Misconceptions

(46:40) - AI's Impact on Sales Methodologies and Market Dynamics

(53:38) - Defining Intelligence in AI and Its Implications

(01:02:00) - Best Practices for Using AI Effectively

What Public SaaS Can Learn from Private Equity

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