Tech Business
How Salesforce Makes Money: The Enterprise Blueprint
How Salesforce makes money: $39.4B of FY2026's $41.5B is subscriptions, locked by $72.4B of contracted RPO and sold by a $14.3B sales machine.
All writing
Archive
45 articles and counting.
SaaS Economics
Product-Led vs Sales-Led Growth: The Economics
Product-led vs sales-led growth is a cost structure, not a philosophy. Salesforce spends 34.5% of revenue on sales, Atlassian 21.8%. The 10-Ks explain why.
Tech Business
How Stripe Makes Money: The Payments Take Rate
How Stripe makes money: the 2.9% + 30¢ headline is a collection number. See the take-rate waterfall, what interchange takes, and the thin spread left.
SaaS Economics
SaaS Pricing Tiers: How to Design the Ladder
SaaS pricing tiers, decoded: 2026 price cards from Slack, Notion, Figma and Claude, computed step ratios, fencing rules and the anchor-tier evidence.
SaaS Economics
Cloud Cost Economics: Why Your Bill Explodes
Cloud cost economics, decoded: why $0.09/GB egress, cross-AZ fees, and idle capacity inflate the bill, and which levers actually cut it. Filing-cited.
Tech Business
How Reddit Makes Money (and the AI Data Deals)
The Reddit business model runs on ads plus AI data licensing. See how a $2.2B ad engine and AI data deals reprice the whole company, read through its filings.
Market Maps
The Bundling Playbook: How Tech Giants Win
Bundling strategy for tech giants turns distribution into pricing power and switching costs. See how M365, Prime, Apple One, and Workspace starve rivals.
SaaS Economics
SaaS Valuation Multiples: What Drives the Number
SaaS valuation multiples price growth durability, not current revenue. See how growth, NRR, gross margin, Rule of 40, and rates move the multiple.
Tech Business
How Palantir Makes Money: Government and AIP
Palantir's business model spans government and commercial AI platforms. See how a $4.48B, 82%-margin machine funds the AIP bet, read through the filings.
Tech Business
How Airbnb Makes Money: The Marketplace Model
How Airbnb makes money: the marketplace business model revenue take-rate that turns $91.3B of bookings into 83% gross margin and $4.6B free cash flow.
SaaS Economics
Vertical SaaS: Why Niche Software Wins
Vertical SaaS fintech revenue is the second engine that beats the TAM ceiling. See how Toast, Procore, and ServiceTitan turn niche software into payments scale.
Tech Business
How Shopify Makes Money: The Take-Rate Engine
How Shopify makes money: the take-rate engine behind merchant solutions, why payments now drive 73% of revenue, and the margin question, read through the 10-K.