YouSaid · the spoken record

Daniel Dines

lines on the record: 100
first: 2024-04-22
most recent: 2024-04-22
sittings or episodes: 1
sources: podcast

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“Kind of six months to a year. I think we have a strategy and a vision for product for two, three years. I think it's wrong to think in so many. You know, this is a great saying that we underestimate what you can do in 10 years. I think the world is going to change so much. I just aim to be healthy, keep my mind sane do good in life in 10 years, nothing more.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“The guide that I think I learned the most in my formative years is Paul Graham. I've never met him in person, but he was instrumental to my thinking of building a company, and this is one guy that I would like to have on the board for sure.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“In this sense, yes, but what I mean, I've seen startups and founders for the sake of speed with a half baked product going and start hiring, go to market teams higher, higher, and they lose everything. They lose the company. If you go big before having product market fit, that's the fucking recipe for disaster.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“That is the most important thing when you have product market fit. If you don't product market fit, spin goes against you in a way. Because if you go fast in the wrong product, you only destroy yourself.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“For many years, I thought that I am not a good operator. Lately I realized that actually I'm a good operator. I had this debate with a shim, our CFO, and I think I realized that I made the confusion what is an operator. So because an operator is not necessarily a project manager that has follow a spreadsheet of tasks and go and check them. I think more of an operator is a guy that deeply understand the domain where they operate can challenge people, can probe, can go deep into this. If we accept this perspective, I think I'm a good operator.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“I always have this regard to autocratic regimes. I was born and raised into a regime with dictator. So I hate those. So I think the potential for doing really tolerable things come up with, I think, from regimes that have once people in command and they cannot be challenged. And there are quite a few powers in the world that fit the bill.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“I understand better how my mind works and what makes it focus better, what makes it wonder, understand better the source of my anxiety moments, maybe how to avoid them.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“I told him if you give us a chance, we are gonna invest massively in Japan for us. So that was like mid January. I will be back in April and by the time I will have like two people working for you. At that time it was nothing, not even Koichi. He was not working. He was something doing part-time for us. And then we started to, actually in April we had like six people. And then we went to another dinner. He showed me to hire like a hundred people almost different consulting front that were working all on RPA. I've been so proud going into this amazing building in Otemach in the center of financial district. They have an amazing top floor overseeing like Imperial Garden. And I've seen so many people who, if their screens open and having UI path. In that one.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“I was not sure really what we are going to do there. Fortunately I was in Singapore when in early January he gave me a call and said, you know, we have an opportunity with the Big Bank in Japan. But you have to come to Japan and meet that guy in person because otherwise they will not trust. And it was, again, like this type of seminal moment when I already had plans to go back to Romania to do some other stuff. I changed my plans and I went to Japan first time in my life. I met Koichi, is this guy our guy? And then I met another Japanese guy that was very instrumental. So it's actually a great bonding experience because he was cooking for me and he put the meat on my plate. It was still an amazing feeling that I get it up to date. And I trust him instinctively.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“One that I like to remember it was nice was when we established in Japan and it was atypical for company. Our growth in Japan was for a couple of years higher than in the US, so established in a way in the same time in Japan as in US. So I was fascinated of Japan culture. Again, really good timing. Like this guy that coast. In 2016, a Japanese guide kind of called us. He said, I want to bring RPA to Japan. He was the CIO of Asia Pacific of Barclay Bank, I think. Very sophisticated. He came to London to meet with me and with some other guys, and he looked a little bit strange at that time. And he was after a long flight and he was, I don't know, tired, but he was some good question.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Up to the day the adoption I think the most interesting cases that we've seen are in coding autocompletion. Outside this, I don't think there are a lot of money right now to be made. But many people are trying. It's a lot of POCs. It reminds me a little bit as the early days of RPA with a lot of POCs. And I think there will be certain use, especially in understanding the documents, reading documents, long documents, summarization of documents. This is going to be really where we can apply. as of today. And if we pair it with automations, I think we increase the value of AI.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“So I'm not on the doomed side of the equation. I personally feel that current technology, it's in actually the early innings of applicability. We need to work quite a bit to find the right use cases in the enterprise space, but I don't see it as challenging to”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“It's both because it's funny enough I read yesterday that Microsoft is with their new AI for consumer. They are thinking to call it like AI for every person. And we had for many years our slogan was robot for every person. AI is helping us, it surfaces more automation opportunities, and it helps us and more with completing an end to end process automation, but also creates a lot of narratives is gonna AI completely replace automation. What if we build AGI that will do everything better than a human user? And then we are going to fall doomed, right? So we'll have to AI speaking here.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“It's possible. I had the discussion yesterday with two friends of mine from IVP. They were also an early investor. They invested along with Sequoia. Eric? Economics. So we were talking exactly this is it there a space in the application AI they felt Doris in kind of vertical AI and probably it should be open AI cannot go after all the domains but I am more with you I think it's gonna be harder and harder I think maybe it's more like in the beginning of the of the internet when the big companies capture it a little bit and it was sometime until big up Salesforce appeared I think early years it's more difficult”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Where is my next vocation and how can I book the trip? My mind is obsessive, so in a way it's very hard when I get into something to take off that something. This is where I work because a lot of time I think I'm overthinking and I go in a circus when I feel every time. I tell myself this is not working. Let's give up on this thinking.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, part of you'd say don't fucking start a company, man. Get a nice job and have fun. With I don't believe in work life balance. As in a way building a company is gonna suck you into building the company. I don't think you can really put barriers. Now I'm working, now I go home and I relax and the kids are around me and my mind stops thinking of this shit and I just go and play with my kids. It's not working. No, it's obvious it's not working. So to me you are kind of connected all the time. When I don't work, it's very rare actually because I'm thinking all the time to do company's problem. To me it's work. If I wake up in the middle of the night and I'm thinking how we build better computer vision or how we can collect more data to build models, I call it work, right? Because I'm not thinking.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“There are bouts of happiness, but I don't have it long. It's not long. It's like for every person. But when I feel at peace, it's more when I can focus. It's like the story, the initial story I told you when I start programming. Even meditating, even saying prayer gives a little bit of peace, but this is what I'm trying.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“I think I'm searching peace of mind, impact and giving my mind framework and environment where to work the best and do its best.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“It's like an inner force. It can do damage, but if you can control it, when I speak in public, I used to have a lot of stage fright, and until I realize this is actually not about me, not about my ego, but it's about my duty to the company and to the people I work. That changed everything. And instead of this force, I call it a demon. But it's a force. It's an inner force that I think all of us have. Instead of canalizing it against me, creating the stage fright because it was feeding my ego, I canalize it towards I am a messenger. So you deliver. And you should see my speeches even in my early days. I always star in a rusty way, but then when I get the rhythm, I gather myself. So I deliver the message.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Build this company from nothing to more than a billion, the CO of the company. It's enough to feed my ego. Another funny story. In 2014, when I was talking to Early Berg. So they consider me engineer, founder, like more like a CTO profile than a CEO. And they told me also in all candidates, let me introduce someone that might be a better CEO. And I said, sure, yes. So I met a guy, which is a nice guy. And I even introduced him. Look, guys, this is going to be our new CEO. So I was always open a little bit to do what's the best for the company. But this guy didn't work, so we went to pitch early board and I think they realized that it's not working. The pitch together was not really gelling. And then they asked me to go again to just pitch myself and then was there is a transformation in me and people.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“I always wanted what's best for the company. I never felt that we are doing justice to this company on go-to-market leadership. You know, when I got the opportunity to meet Rob that actually Carl introduced the two of us, I realized that Rob probably is the best go-to-market leader that we can have. But the only way to get him was to give him the CEO title.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“It has a significant effect, yeah, for sure. I think there are people that fall off Sequoia and they go only to Sequoia companies and their place. It's a big sign.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“that can actually turn them against the company. And Sequare can damage a company investing in competitors helping. Of course. I didn't want to create an enemy, of course. But it was interesting because being honest with CARD, creating a little bit of a competitive spirit in him because he told me later, I told myself, I have so many great relationship with so many people. What was wrong? So made him a little bit curious. So we stayed in touch. They also talked to competitors of us, but Carl decided that if Sequa is going to invest in RPA, it's going to invest only in New York. I really appreciate it. And since then we build an amazing relationship, but it was built on a great foundation of trust.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, that's another story. But what's interesting? Let me give you one piece on the story. When I met Carl first time, for some reason I didn't feel the most amazing chemistry with him. So I said basically no to Sequia to our series B. Series B was led by Axel US and Capital Gleiner Porkings and some other people participating. But I said no to Sequel. We didn't hit it off, but it was based only on one interaction with him and actually told him directly. I got a good advice not to give Carl the bullshit answer and reason and I told him that I didn't feel that was the best chemistry between us. Then was when Carl really impressed me because I expect as many people that will turn them off and they will never speak with me.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“It depends there are buckets of risk. Sometimes I very fearful and I'm ashamed of myself. But sometimes I don't have the same sense of risk as other people, so I can go much faster and make bigger bets. I don't think of the consequences so much.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Our rating on glass doors on this plummeted and all, the learning is that in life you have to do what is the right thing and you just have to swallow the pain and the cost. And if you do the right thing, company will heal and will become bad.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“They send messages on LinkedIn, this is what's happened. This company is just legs, all this, in a very celebratory way. But the best thing for them they continue to hire right into the COVID, and we've become much better leaner company. So we entered COVID as leaner company. Actually, my recollection of all of our reduction in forces, it's like a surgery after the initial shock you become a better company.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it feels tolerable because you might lose the company. It's fucking terrible. So we had an emergency meeting. I think Luciana was there. So we met 15 of August in New York. That was the moment we decided we have to stop the train and hiring and we were hiring on all cylinders. So we have to stop the train. We had to do reduction in force. Think about it was twenty nineteen everything was going well in the economy and we announced a reduction in force. It was a terrible moment. I think it was extraordinarily difficult for me and talking to the company we fired I think like 10% of the or more fifteen percent something like this, four hundred people probably out of 3,000. So it was very it was very difficult but I think the second biggest competitor of ours at the time behaved very nasty so they were celebrating”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“But high level the muff stands. In long term it doesn't stand because you can ask, but next year if we start to 150, at that time we were growing more than 150%. Growth can help with all the diseases. So in beginning of August, we assume transition from like customer success lead into leading FPNA. And he casually told me that Daniel, whatever we do, we will burn three hundred, he said. This is impossible because all the time we were working in this exception. We are getting the 450, we are getting 150. It's a huge difference. It's much easier to control cost than you have.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I remember it very well. Because in the it was like in the middle of the, still middle of the summer, I think beginning of August. My plan for that year was that I will burn maximum one hundred fifty million dollars, which was fine. We had enough money, we had, I think like five hundred six hundred million in the bank. I planned to burn one fifty. I had a very rough, simple plan. So we finished 2018 like with the hundred and seventy five million in ARR. And I said to my team, guys, we will capacitate this company to get six hundred million next year. I know it sounds crazy, but I will accept I will give you a buffer of one hundred fifty million dollars. So if we do only 450, I think we are still fine. I'm okay to invest, to burn 150. Well, reality is more complicated.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Use two colorful metaphors. People are taking a back. It was kind of a lesson maybe to something more palatable to people. And it's easy to explain that clarity metaphor in other terms. Because I still believe as a leadership lesson, this is my biggest lesson. Provide clarity to people, explain the rules, basically explain your decisions. You don't have to say we decided this and this because it will always create interpretations, temptations, explain them clearly and explain what is uncharted territory. It's very important so they understand that they have no compass.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“It's good and bad, but it's because God created clarity to Adam, very clear rules. What God didn't do He didn't explain clearly to Adam why the rules are there so God created tentation in Adam to it from that tree. Leader should communicate well for sure. So it's an interesting analogy to me. So a good message would be I charted all the universe since the creation up to this point. So you are safe here following the rules that I gave you because I discovered them and this is why we have to behave in a certain way. But this is uncharted territory and this is be careful and we have to go together in that uncharted and find new rules. To me that would have been a better leadership message. But I think”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Not necessarily really sometimes I tend to use maybe metaphors when describing stuff I like analogies and it's a funny one once I had a speech to my entire leadership team and it was a big moment I wanted to announce then that Rob will become the sole CEO so I wanted to give like a nice speech but I told them about my biggest learnings in leadership I told them clarity a leader is one that should bring clarity to people and explain this is to me one of the biggest treats of a leader and I explain the concept of clarity using like a biblical analogy like the creation of God and Adam and how God told Adam do everything you want but don't eat it From this tree. And I said that in a way that's bad leadership.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“I do, I do all the time, and the message that I'm trying to send them is always authentic. I cannot be anything else. You know, I hardly speak if I try to pretend and I try to make up the truth and the reality, I think I always fail. I connect with people but by speaking my mind.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Maybe. I don't know. They would save some money, but does it matter for the psychological impact? What message do you send”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“And Microsoft in that course cutting email sent to everyone in Microsoft. One of the points that I still remember was that in some buildings in the basement had some showers. If you go with the bicycle and they said they are removing the towels in the showers. When I read this, I said to myself, this company has lost it. Now see, it's a company who run. What's the psychological impact?”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“To get we have an amazing office in New York right now. Google inspired me. So when I was in Microsoft, that's an interesting story when I thank a corporation is losing its way and they don't understand where they are in terms of like competition. I talk about Microsoft 2004 or something, not Microsoft Today. So I receive an email about some cost reductions. Google was, I think they just IPOD, we knew about their how they treat employees with Michelin, star chefs and massages and all this stuff, right?”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Apart and shit. The beautiful office had an impact on me. You feel it in the stomach a little bit. At that time I was not used to going such amazing places. They were like in the movies for me, and all fair necessary. Microsoft Office don't compare with Axel Office in London. You feel a little bit. It's easy to be impressed when you are young and you are not experienced. But I wanted at that time to associate with something that looks successful. Axel, it's one of the top firms in the world. I think it's kind of normal.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“But eventually they invested in common stock, so that the negotiation went to all this drag in the end discussion with Magnifiana Invest, that's fine. Invest in common stock, but look, we are growing. At this point, it looks like the interest we are talking with big companies like Kaiser Permanente left voicemail to us asking guys, let's connect. That's kind of unheard of. Small startup. RBA started to get traction. So they invested in common stock but with having a paripasu with the next round. They made billions, so they did well.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Those are not great, really. But I engage in the discussion with him. Actually, they gave me a term sheet in August, I think, 2014. And we signed actually the deal. They wired the money in July 15. So it was such a long time.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“And it was very interesting because we negotiated for such a long time. Actually, that was the funniest thing. I knew that I am on something big. I met this guy, Dan Lupu, in march twenty fourteen, and it was kind of funny because I asked him to come to my office and the first time I dressed up. You know, I had like a jacket on me. And he came with a hoodie. It was funny. That was a better way to get my trust because I was very skeptical at that time of people putting money in the company and they came initially with some outrageous terms”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, for sure, because our PAs become significant markets, also we contributed quite a bit for RPA to become a good market, but it's possible that I would have lost one or two years and we would never be at that size.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“We built our old software because we like it. It was really an interesting. Engineering problem to solve. So we did it. I don't advise anyone to do this. It was amazing that it worked in our case. But if you do this and you build a piece of engineering that you really like and you become a specialist and you become the best in the world in it, if it happens later on to find great use case on the gray market for this, it's hard for someone to stop you.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“They become our client, and that I think it was the biggest single invoice that we sent that was in twenty fourteen, I think we got like a hundred K revenue only from that client, which was huge from us. But Harry, most important, was that we understood that this is a huge market. So that was a BPO company, but they were doing some work for like a huge American computer manufacturing company at that time. Actually, this big companies are flooded in manual repetitive work and they don't know what to do, despite all the advances in APIs, in ERPs, in CRM. There are so many inefficiencies and people use.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, we understood this is a big market, first of all. And we understood the requirements of what they expect us to build. We were building a good demo because we at that time we so use our software to build automations and we used the Microsoft product call, like I think Orchestrator or something, and we create some integration with Microsoft product to deploy our bots and monitor. It was pretty nice. It was a cool solution and they liked it.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“And even more, he said, I give you a chance, but it's gonna be at cost. But sometimes there are astral moments in life when you need to seize them and you need to feel them. So I knew that was one of that moment. So I sent three people, including my CTO at that time and two girls actually. Day on that, they spent like three months in Chennai. So I took people out of the programming job.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Of all, let me search on the internet. So I searched Blueprism. It was funny because they had this typical corporate boring page with, you know, saying basically nothing and with career investors. And I told him, looks like this is a big company. We cannot compare. We are just a small startup. This is what I told him, you know, very frankly, but he liked it.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“Personal Yahoo address. And at that time I was doing all the customer support. And where is this thing? So I watched this one and I had a tendency to skip this one because it didn't work with individuals. And he wanted the demo of the product without telling much about it. But I don't know. I had some kind of intuition that maybe I should still give him a demo. And I asked one of our developers because we were all developers at that time in the company, like five people, maybe five, seven. And I ask one of our developers to connect with the guy, give him a demo. After one hour, she came to me and tell me, Daniel, this guy is actually from a big company should talk to him. And I connected right away on Skype, I think at that time, and he asked me first question was how do you compare with Blueprint? And I told him, and I don't know who Blueprison is.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“They invented actually the word RPA. And they had more of an overarching platform to create bots. Only that our tool was way better than their tool to create one single bot. So that Indian guy for some reason didn't like blueprism. They thought they are a bit arrogant, inflexible. So by himself he searched on the internet like a competitor. And Blueprism is also a low code type of environment, so he searched for something that looked nice. So we had like our location was really nice from the beginning. We had like a flowchart engine, you can drag and drop the block so you can create easily visually. He liked this. And it's crazy. He sent us an email from like his...”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source
“on that approach, we were found by a guy like middle manager in an Indian company, a BPO company. That was actually in 2013. On the first of March 2013, we launched the version one zero of what has become our RPA product, version 10 called UIP Studio. It didn't have any traction. But this guy found it on the internet, so he worked with a British company called Blue Prism.”
2024-04-22 · The Twenty Minute VC · 20VC: UiPath: The 10 Year Bootstrapping Journey that Turned into a $10BN Public Company | From a Dollar a Day to Romania's Richest Man | Happiness, Wealth, Risk and more with Daniel Dines, Co-Founder @ UiPath · IDENTIFIED FROM THE TRANSCRIPT · source