Run the Numbers

In this episode of Run the Numbers, CJ sits down with Varsha Udayabhanu of Invisible to unpack what enterprise AI adoption actually looks like beyond the hype. They cover forward deployed engineers, eight-week solution sprints, value-based pricing when outcomes are hard to meter, ARR vs. services revenue, and why “momentum” beats traditional SaaS metrics. A tactical look at trust, expansion, and building durable AI revenue.
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SPONSORS:
Brex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at https://www.brex.com/metrics
Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That’s why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.com
RightRev is an automated revenue recognition platform built for modern pricing models like usage-based pricing, bundles, and mid-cycle upgrades. RightRev lets companies scale monetization without slowing down close or compliance. For RevRec that keeps growth moving, visit https://www.rightrev.com
Rillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you’re scaling on an ERP that wasn’t built in the 90s, book a demo at https://www.rillet.com/cj
Tabs is an AI-native revenue platform that unifies billing, collections, and revenue recognition for companies running usage-based or complex contracts. By bringing together ERP, CRM, and real product usage data into a single system of record, Tabs eliminates manual reconciliations and speeds up close and cash collection. Companies like Cortex, Statsig, and Cursor trust Tabs to scale revenue efficiently. Learn more at https://www.tabs.com/run
Abacum is a modern FP&A platform built by former CFOs to replace slow, consultant-heavy planning tools. With self-service integrations and AI-powered workflows for forecasting, variance analysis, and scenario modeling, Abacum helps finance teams scale without becoming software admins. Trusted by teams at Strava, Replit, and JG Wentworth—learn more at https://www.abacum.ai
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LINKS: 
Varsha: https://www.linkedin.com/in/varshaudayabhanu/
Company: https://invisibletech.ai/
CJ: https://www.linkedin.com/in/cj-gustafson-13140948/
Mostly metrics: https://www.mostlymetrics.com
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RELATED EPISODES:
Marketing as a Form of Capital Allocation With Carta's Head of Growth Angela Winegar
https://youtu.be/rG09ehsrWv8
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TIMESTAMPS:
00:00 Intro
03:21 What Invisible Technologies Does
05:34 Enterprise AI Adoption Gap
07:38 Forward Deployed Engineers
09:44 Evolving GTM in AI Services
10:36 Solution Sprints
12:37 Sponsor — Brex | Metronome | RightRev
15:56 Upfront Investment vs. Upside
18:38 Bespoke Deals
20:37 Value-Based Pricing in Enterprise AI
22:12 Value Sold vs. Value Delivered
23:31 Enterprise Revenue as a Portfolio of Bets
24:53 Time-Bound Solution Sprints
27:06 Sponsor — Rillet | Tabs | Abacum
30:32 Humans in the Loop & Expert Incentives
33:38 Niche Human Expertise
34:10 Rethinking KPIs Beyond ARR
35:44 Momentum Metrics
39:00 Evaluating GenAI Financial Profiles
40:47 Expansion as the Atomic Unit
42:19 AdTech Lessons on Distribution & Brand
43:23 Why Brand Matters for Enterprise
47:10 Commoditization Risk
48:31 Long-Ass Lightning Round
53:20 Credits

In this episode, CJ talks with Paul Stansik of ParkerGale Capital about what separates Simplifiers from Complicators. They unpack why most board meetings miss the point, how to answer the actual question, and why naming the real problem builds trust.
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SPONSORS:
Abacum is a modern FP&A platform built by former CFOs to replace slow, consultant-heavy planning tools. With self-service integrations and AI-powered workflows for forecasting, variance analysis, and scenario modeling, Abacum helps finance teams scale without becoming software admins. Trusted by teams at Strava, Replit, and JG Wentworth—learn more at https://www.abacum.ai
Brex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at https://www.brex.com/metrics
Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That’s why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.com
RightRev is an automated revenue recognition platform built for modern pricing models like usage-based pricing, bundles, and mid-cycle upgrades. RightRev lets companies scale monetization without slowing down close or compliance. For RevRec that keeps growth moving, visit https://www.rightrev.com
Rillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you’re scaling on an ERP that wasn’t built in the 90s, book a demo at https://www.rillet.com/cj
Tabs is an AI-native revenue platform that unifies billing, collections, and revenue recognition for companies running usage-based or complex contracts. By bringing together ERP, CRM, and real product usage data into a single system of record, Tabs eliminates manual reconciliations and speeds up close and cash collection. Companies like Cortex, Statsig, and Cursor trust Tabs to scale revenue efficiently. Learn more at https://www.tabs.com/run
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LINKS: 
Paul on LinkedIn: https://www.linkedin.com/in/paulstansik/
ParkerGale Capital: https://www.parkergale.com/
https://hellooperator.substack.com/
CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/
Mostly metrics: https://www.mostlymetrics.com
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TIMESTAMPS:
0:00 Fixing Broken Windows in Investing
3:08 What an Operating Partner Actually Does
5:35 Managing Nine Portfolio Companies
6:07 Where PE Investors Spend Their Time
9:02 Do Investors Think About You All Day?
10:16 The Operator “Bermuda Triangle”
12:35 Sponsors — Abacum | Brex | Metronome
15:52 The CFO “Triangle of Doom”
17:47 How to Become an Investor Favorite
18:42 Templates Build Trust in Board Communication
20:54 Using Trusted Data
22:10 The Board Payback Record Scratch
23:18 Building Your “Data Diet” With the Board
25:19 Sponsors — RightRev | Rillet | Tabs
28:47 Signs a Team Isn’t in Command
31:30 Board Meetings Aren’t a Performance
34:16 “20 Board Meetings—Don’t Waste Them”
35:15 Ask Permission to Reallocate the Agenda
37:54 When to Send Board Materials
40:28 Simplifiers vs. Complicators
41:58 The Simplifier Finds the One Question That Matters
42:16 Three Traits of a Simplifier: Answer, Find, Do
43:15 Why Complicated Operators Take You on a Ride
44:26 Selling vs. Substance
46:23 “Get There, Bob”
47:25 Why We Hedge
49:36 You Can’t Fix a Secret
52:50 Credits

In this episode of Run the Numbers, CJ Gustafson talks with Rivian CFO Claire McDonough about financing one of the most capital-intensive businesses in the world. They cover long-term investment decisions, capacity planning, cash management as production scales, lessons from Rivian’s nearly $14B IPO, the risks of over- and under-building, and why federal EV tax credits matter more than most people think.
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SPONSORS:
Tabs is an AI-native revenue platform that unifies billing, collections, and revenue recognition for companies running usage-based or complex contracts. By bringing together ERP, CRM, and real product usage data into a single system of record, Tabs eliminates manual reconciliations and speeds up close and cash collection. Companies like Cortex, Statsig, and Cursor trust Tabs to scale revenue efficiently. Learn more at https://www.tabs.com/run
Abacum is a modern FP&A platform built by former CFOs to replace slow, consultant-heavy planning tools. With self-service integrations and AI-powered workflows for forecasting, variance analysis, and scenario modeling, Abacum helps finance teams scale without becoming software admins. Trusted by teams at Strava, Replit, and JG Wentworth—learn more at https://www.abacum.ai
Brex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at https://www.brex.com/metrics
Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That’s why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.com
RightRev is an automated revenue recognition platform built for modern pricing models like usage-based pricing, bundles, and mid-cycle upgrades. RightRev lets companies scale monetization without slowing down close or compliance. For RevRec that keeps growth moving, visit https://www.rightrev.com
Rillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you’re scaling on an ERP that wasn’t built in the 90s, book a demo at https://www.rillet.com/cj
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LINKS: 
Claire on LinkedIn: https://www.linkedin.com/in/claire-rauh-mcdonough-5291b946/
Rivian: https://rivian.com/
CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/
Mostly metrics: https://www.mostlymetrics.com
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RELATED EPISODES:
Why Revenue Recognition Is the Next AI Battleground | Dan Miller of RightRev
https://youtu.be/TxhTtwmOass
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TIMESTAMPS:
00:00:00 Craziest Expense Story at Rivian
00:01:22 Intro to Claire McDonough
00:03:09 Capital Intensity and Vertical Integration at Rivian
00:06:44 Raising $14B: How Rivian Planned Its IPO Capital
00:10:22 Capacity Planning and Scaling R2 Production
00:12:13 Sponsors — Tabs, Abacum, Brex
00:15:34 Sweating Existing Capacity vs Overbuilding
00:18:22 Winning EV Adoption from ICE Buyers
00:22:27 How Federal EV Tax Credits Shape EV Pricing
00:26:03 Sponsors — Metronome, RightRev, Rillet
00:29:27 R2 as a Driver of Long-Term Profitability
00:33:14 Supply Chain as the Critical Path to Launch
00:36:53 Product Roadmap as the Anchor for Capital and Headcount
00:39:40 Peloton and Flipkart Lessons from Banking
00:43:42 Biggest Career Mistake
00:44:50 Advice to Younger Self
00:47:19 Rivian’s Finance Software Stack

In this episode of Run the Numbers, CJ Gustafson sits down with Dan Miller, CFO at RightRev. They unpack why leasing is underused in software, how RevTech emerged, and why revenue recognition may be the next AI battleground. Dan also shares how he evaluates durable growth vs. hypergrowth.
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SPONSORS:
Rillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you’re scaling on an ERP that wasn’t built in the 90s, book a demo at https://www.rillet.com/cj
Tabs is an AI-native revenue platform that unifies billing, collections, and revenue recognition for companies running usage-based or complex contracts. By bringing together ERP, CRM, and real product usage data into a single system of record, Tabs eliminates manual reconciliations and speeds up close and cash collection. Companies like Cortex, Statsig, and Cursor trust Tabs to scale revenue efficiently. Learn more at https://www.tabs.com/run
Abacum is a modern FP&A platform built by former CFOs to replace slow, consultant-heavy planning tools. With self-service integrations and AI-powered workflows for forecasting, variance analysis, and scenario modeling, Abacum helps finance teams scale without becoming software admins. Trusted by teams at Strava, Replit, and JG Wentworth—learn more at https://www.abacum.ai
Brex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at https://www.brex.com/metrics
Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That’s why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.com
RightRev is an automated revenue recognition platform built for modern pricing models like usage-based pricing, bundles, and mid-cycle upgrades. RightRev lets companies scale monetization without slowing down close or compliance. For RevRec that keeps growth moving, visit https://www.rightrev.com
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LINKS: 
Dan on LinkedIn: https://www.linkedin.com/in/danmillercpa/
RightRev: https://www.rightrev.com/
CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/
Mostly metrics: https://www.mostlymetrics.com
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TIMESTAMPS:
00:00:00 Preview and Intro
00:02:41 Why Operating Experience Matters for CFOs
00:04:08 Defining Durable Growth
00:06:06 Snowflake and Consumption Revenue Complexity
00:10:17 Forecasting in Consumption Models
00:11:29 AI’s Role in Revenue Forecasting
00:12:14 Sponsors — Rillet | Tabs | Abacus AI
00:15:39 Comping Sales in Usage-Based Models
00:18:15 Leasing as a Software Monetization Tool
00:20:47 The CFO’s Role in Sales and GTM
00:22:29 How CFOs Help Close Deals
00:24:14 Rev Tech vs RevOps
00:26:20 Sponsors — Brex | Metronome | RightRev
00:29:40 Where AI Actually Helps Rev Rec
00:31:55 Deterministic vs Probabilistic AI
00:33:05 Why Enterprises Hesitate on AI Agents
00:34:18 Startups vs Incumbents in the AI Race
00:35:13 FOMO, Overfunding, and Market Distortions
00:38:13 CFO Playbooks Without Hypergrowth
00:39:38 Finding PMF as a CFO
00:41:15 Career Advice: Growth vs Shiny Objects
00:42:00 Building the CEO–CFO Relationship
00:42:49 Learning Beyond the Back Office
00:43:22 Lightning Round
00:44:28 Advice to My Younger Self
00:45:09 Finance Tech Stack
00:46:36 Credits

In this episode of Run the Numbers, CJ sits down with Brett Queener, Managing Director at Bonfire Ventures, to trace the origins of ARR and examine how new revenue models are reshaping B2B software. Drawing on Brett’s time at Salesforce and SmartRecruiters, they explore the shift from annual contracts to outcome-based pricing, what it means for forecasting and gtm strategy, and where the next major inflection points in SaaS are likely to emerge.
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SPONSORS:
RightRev is an automated revenue recognition platform built for modern pricing models like usage-based pricing, bundles, and mid-cycle upgrades. RightRev lets companies scale monetization without slowing down close or compliance. For RevRec that keeps growth moving, visit https://www.rightrev.com
Rillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you’re scaling on an ERP that wasn’t built in the 90s, book a demo at https://www.rillet.com/cj
Tabs is an AI-native revenue platform that unifies billing, collections, and revenue recognition for companies running usage-based or complex contracts. By bringing together ERP, CRM, and real product usage data into a single system of record, Tabs eliminates manual reconciliations and speeds up close and cash collection. Companies like Cortex, Statsig, and Cursor trust Tabs to scale revenue efficiently. Learn more at https://www.tabs.com/run
Abacum is a modern FP&A platform built by former CFOs to replace slow, consultant-heavy planning tools. With self-service integrations and AI-powered workflows for forecasting, variance analysis, and scenario modeling, Abacum helps finance teams scale without becoming software admins. Trusted by teams at Strava, Replit, and JG Wentworth—learn more at https://www.abacum.ai
Brex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at https://www.brex.com/metrics
Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That’s why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.com
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LINKS: 
Brett on LinkedIn: https://www.linkedin.com/in/brettqueener/
Brett’s Substack: https://queener.substack.com/
CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/
Mostly metrics: https://www.mostlymetrics.com
The Staffing Ratios Salesforce Used, with Brett Queener of Bonfire VC
https://youtu.be/lJVgstAXjJs
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TIMESTAMPS:
00:02:54 Welcome Brett & episode setup
00:03:51 On-prem software to SaaS
00:05:54 Salesforce & recurring revenue
00:07:15 On-prem costs & partner bloat
00:09:58 Contracts, control & comp shifts
00:14:15 Lock-in, renewals & SaaS drift
00:16:20 Sponsors — RightRev | Rillet | Tabs
00:19:48 From buying to hiring software
00:21:59 Agents change pricing & planning
00:25:59 Forecasting without ARR
00:28:03 Talent models break
00:29:45 Sponsors — Abacum | Brex | Metronome
00:33:01 Rethinking sales & comp
00:36:47 Selling by doing the job
00:40:50 The future role of sales
00:46:10 Zombie SaaS & category collapse
00:51:07 Context as the moat
00:56:07 Where AI hits next
00:58:44 Vertical AI & hidden TAMs
01:02:12 $1B startups vs mega rounds
01:05:48 Dilution, fund math & pressure
01:08:03 Choosing your founder path