This article is an interview with Parker Conrad, the founder and CEO of Rippling, a workforce management software company. Here are some key points from the interview:
Rippling’s Funding and Growth
- Rippling has raised $725 million in its latest funding round, valuing the company at $6 billion.
- Conrad mentions that the company is "relatively free" of AI products, but is working on some AI-related projects.
Conrad’s Skepticism of AI
- Conrad expresses skepticism about chatbots and other trendy AI technologies, saying he doesn’t think people want to interact with their HR software in this way.
- He mentions that his company’s focus on compound software businesses (i.e., building a suite of interconnected products) is more important than chasing after the latest AI trends.
Rippling’s Business Model
- Conrad explains that Rippling’s business model involves building a comprehensive platform for workforce management, which requires significant upfront investment in R&D.
- He mentions that Rippling spends around 20% of its revenue on R&D, compared to an average of 10% among its competitors.
Bill Gurley and Marc Andreessen
- Conrad mentions that Bill Gurley, a well-known venture capitalist, has been critical of his company’s approach to building compound software businesses.
- He also notes that he’s never met Gurley, but the two have engaged in some public disagreement on Twitter.
