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Surviving and Thriving in an Economic Downturn
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03:36et vous demandez, je ne peux pas changer ça.
03:40Mais le cycle, si on est fait dans un tournage,
03:43vous focuszz sur plus de l'outcome,
03:46showing le résultat, selling l'outcome,
03:48non le produit que vous avez,
03:50et showing que si vous pouvez donner l'outcome plus rapide,
03:54c'est le benefit de vos clients en termes de direction.
03:57Bonne sales organisations durant un tournage
03:59sont très broad et très deep.
04:01Vous devriez faire votre CFO et votre CIO
04:04de vos clients en termes de direction
04:06en termes de direction, et vous devriez penser
04:08à la façon dont vous prenez l'outcome,
04:10la façon dont vous prenez l'outcome,
04:12et vous prenez les à l'outcome,
04:14non au long de la période durant un tournage,
04:17mais vous prenez les à l'outcome
04:18avec un peu plus de speed,
04:19pas en termes de 10%, mais en termes de 50%.
04:23C'est important parce que la plupart du temps
04:27quand vous vendre durant un tournage,
04:29les cycles stretchent à l'outre,
04:30à l'opposant de contrôlage.
04:32Maintenant, durant un tournage,
04:34et si vous faites vos du listens,
04:38vous ne pouvez pas connecter
04:38à l'outro, vrai ?
04:41Voilà.
04:43Innovation durant la down-tour
04:45est quand vous pouvez faire des choses
04:46qui cause vous de ne pas
04:47de votre peers.
04:48C'est aussi où vos compétences
04:50verrons trip et fall.
04:51Donc, innovation,
04:53vous avez à dire,
04:53«je me priorise
04:54ce que je suis mieux,
04:56plus je peux
04:56sur ce que je push en
05:01C'est très intuitifé en termes de mes moves.
05:03How many of you think a downturn right now
05:05is a great time to acquire a company?
05:08How many of you think it's not?
05:12Your venture capitalist will be very scared
05:14for those of you who raised your hand first.
05:16But it is the best time to buy into innovation
05:20and to complete your architecture
05:22in terms of direction as you move forward.
05:25It's also the time, as you've heard from many of the speakers,
05:28to double down on where you think the next major moves are going to be.
05:32That will be artificial intelligence, in my opinion,
05:35and the ability to incorporate that into every business
05:38and every opportunity there is in the market.
05:41So as you think about downturns,
05:43this is also when a company will be much stronger
05:46coming out of a downturn if they do it right,
05:48and so will a CEO.
05:50So two cases in point.
05:52You can say that's nice in theory,
05:54but John, talk about not what you did at Cisco.
05:57I get that, but that's in the past.
05:59What have you done in the last two years?
06:01What have your startups done?
06:02I'll take two examples.
06:04An artificial intelligent company
06:07that is in the area of customer service
06:10and literally call center capabilities
06:13called Unifor.
06:15Unifor, 18 to 24 months ago,
06:17was struggling a little bit.
06:19They made the changes in terms of their headcount.
06:21They outlined a vision.
06:23They doubled down and focused on their customers.
06:25They focused on their employees.
06:27They prioritized their efforts better.
06:29And over the time period,
06:31they then very crisply moved,
06:34very crisply moved from a company
06:36that was growing at 50% and slowing
06:38to a company that today is growing at over 100%
06:42has become the largest enterprise
06:45artificial intelligence company in business
06:48with 100 million ARR in terms of its capability.
06:52and the CEO, Amesh Sanjeev,
06:55basically he's always been very good.
06:58But he's emerged,
06:59if you were to watch him last night with customers
07:00and I was with him with customers
07:02and that's part of my job of a mentor,
07:04he literally is playing at an entirely different level
07:06and so is the company.
07:08At the same time,
07:09we talked about doing M&A.
07:14I would have never recommended
07:15and I did 180 acquisitions at Cisco.
07:17Most people would say we wrote the textbook on it.
07:19But I would have never said,
07:21do it remotely for your first ones,
07:24do it halfway around the world.
07:25And yet what they did
07:27was kind of rewrote the rules.
07:28They combined data, voice, video
07:30into a single architecture
07:32and they did five acquisitions
07:35in the last two years
07:37during the height of the downturn.
07:38So you begin to realize
07:40what is possible here
07:42in terms of the transition.
07:43And they now have an evaluation
07:45of $2.5 billion.
07:48They've raised $400 million
07:49in the last capital round.
07:51And I'm betting them on,
07:52we'll see,
07:53to be one of the three major players
07:55in artificial intelligence
07:56looking out three, five,
07:58and ten years from now.
08:00Well, John, I get that.
08:02But that's just one company.
08:03Let's hear about another one.
08:05Let's talk about a smaller company,
08:06Safe Tech Securities.
08:08It has, in the area of
08:10artificial intelligence-enabled
08:12risk management and risk assessment.
08:15A company that came out of India
08:17that I got involved in
08:18when they were about $30 million.
08:21They went through a similar scenario
08:2218 to 24 months ago
08:24and their business slowed down.
08:26And you second-guessed,
08:27is my strategy right?
08:28What are we going to do?
08:29And what they did at that time
08:31and what Saket Modi, the CEO, did,
08:34we coached through it
08:35and said, here's what the trade-offs are.
08:37He realized he needed to make
08:39his product simpler.
08:40He needed to change the vision
08:42of where he was going to go.
08:43He needed to be more aggressive
08:44in the marketplace.
08:46And you will also see him add,
08:48literally add,
08:49in the next two to three months,
08:52major acquisitions to a smaller company.
08:55So key takeaway from that
08:57is basically, during a downturn,
09:00the young CEO said,
09:01here's what I'm going to do differently.
09:03Here's how I'm going to move into the market.
09:04and here's how I'm going to make
09:06this transition work.
09:08And he came out of it now
09:10with an evaluation of $200 million,
09:12a dramatic increase
09:14over his evaluation before,
09:16raised $50 million a month ago,
09:20and had seven offers
09:23in terms of who would like
09:25to lead the round.
09:27So what I'm sharing with you
09:28is have the courage to be bold
09:30during a downturn.
09:31and don't view it as an issue
09:33I'm just trying to survive.
09:35Your employees will sense that,
09:36your customers will sense it, etc.
09:39You've got to say,
09:40I do have to survive.
09:42I probably bet on too many areas
09:44too early.
09:45I've got to reprioritize.
09:47I've got to have a fanatical approach
09:49to my customers,
09:50to my employees,
09:51and this prioritization.
09:53And instead of playing defense
09:54and back on your heels,
09:56say now's the time
09:57to be bold and break away.
09:59this is when the great companies
10:01will be built.
10:03This is when you have a chance
10:04to lead by example
10:05in terms of the direction
10:06moving forward.
10:08But it takes courage.
10:10And so I will challenge you
10:12when we talk next year
10:13at the same time,
10:14how many of you have chosen
10:16a bold view to go forward?
10:18And how many of you
10:19have played defense?
10:21And when you look at your peers,
10:23you have a chance to lead
10:25or a chance to slowly follow.
10:27You know where I'm going with this.
10:29If you slowly follow,
10:31you're going to get left behind.
10:33A year from now,
10:34probably 40% of the unicorns
10:36will no longer be unicorns.
10:38A year from now,
10:40a large number of the startups
10:42who mis-executed in part
10:44from some of their own decisions before
10:45and in part because they didn't move
10:48with speed and prioritization
10:50during the downturn
10:51will also be gone.
10:53Many of your peers
10:54will still not have a clear vision
10:56of where the market's going to go,
10:57how they're going to differentiate
10:58in that market,
10:59and what they're going to do.
11:02They will not use a downturn
11:04to break away and make bold moves.
11:06And as a result,
11:07they will get left behind.
11:10Does that make sense to you?
11:12How many of you believe
11:13you're going to be bold in the next year?
11:15I mean, really believe it in your heart.
11:17That's my goal today.
11:18If you agree with everything I've said,
11:20I have failed miserably.
11:22I want to make you uncomfortable.
11:24I want to make you sweat a little bit.
11:25I want you to say,
11:26you know,
11:26I really haven't been moving fast enough.
11:29Maybe I should be more aggressive
11:31in terms of doing innovation faster.
11:34Innovation, speed, and engineering
11:36should be faster during a downturn
11:38than any other time.
11:40Going back to when you prioritize
11:41your issues right
11:42and using Unifor as an example,
11:45they combined data, voice, video,
11:47acquired five companies
11:49into their architecture,
11:50and use the downturn
11:51as a chance to move
11:52with speed on innovation.
11:55So I kept Modi,
11:56the head of Safe Technology,
11:59last week was on the Gartner stage
12:01in the East Coast of the United States.
12:04And Gartner used a demo
12:06of how at Safe Securities,
12:10they had put what they call
12:13ChatGPT,
12:14but it's in essence SafeGPT,
12:16into their total architecture.
12:18And they demoed online
12:20what has been,
12:21according to the Gartner chairman
12:22of that session said,
12:24the only major security company
12:26who's really taking the capabilities
12:28of this new AI technology
12:30and brought them out
12:32in a way that people understand.
12:33They showed on stage
12:35the ability to say,
12:36what is my cyber exposure?
12:37How do I exist versus my peers?
12:41When a CFO asked me,
12:43how prepared are we versus others?
12:44where should I spend money?
12:45What should the answer be?
12:47And they demoed it live.
12:49How long did it take them
12:50to develop that capability
12:52off of their current architecture
12:53and their database?
12:56One month.
12:59This is what the promise of AI means.
13:01And this is why,
13:02as we think about our architecture,
13:03it has to be AI inclusive
13:05of where you're going to go
13:06in the marketplace.
13:07So my challenge to you
13:08is don't look at it at a downturn,
13:10which I would argue
13:11we've been in for 18 months.
13:13I mean, we really have.
13:14For any of you in the VC world,
13:16you know how tough funding is to get.
13:18You know how much raising funds
13:20need to be done.
13:22But now you have a chance to say,
13:24I'm going to control my own destiny.
13:25I'm not going to sit back on my heels.
13:28I'm going to look at a market
13:30and say, here's how I'm going to go forward.
13:32My challenge to you is dream again.
13:36And because we've had the wind
13:38behind our back for 12 years,
13:39and we have in terms of free capital money,
13:42and everything's going pretty well,
13:44it's so hard to make
13:46the fundamental changes you need to make.
13:48But now is the time
13:49to make those fundamental changes.
13:51Now is the time to be bold.
13:53It's been an honor to be with Viva Tech
13:55since the very beginning.
13:57I want to congratulate Europe
13:59on the innovation we're seeing.
14:01I presented the last five
14:03out of the last six unicorn,
14:05top unicorns award here at Viva Tech.
14:07And you can see us breaking away
14:09and becoming stronger.
14:10But even in Europe,
14:12if we don't move quickly,
14:13or even in France,
14:15which has had an amazing economic positioning
14:18with high tech and a vision to the future
14:20and attracting the startups
14:22and the fastest growth in unicorns,
14:24if we don't continue to dream,
14:26we will be left behind.
14:28Once again, I want to thank you
14:29for the time today.
14:31It is truly an honor
14:32to be part of Viva Tech.
14:34It's truly an honor
14:35to be the French high tech ambassador
14:37for the world.
14:38I believe in you,
14:39but I want you to be bold.
14:41I want you to not only survive a downturn,
14:43but thrive during it.
14:45Thank you very much.
14:46Have a great day.
14:47Thank you.
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