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Asana S-1

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Re: Asana S-1

#161

Post by james-mcelwain »

adventured wrote: post #151
jolux wrote: post #126

Earlier quoted context omitted.

We are currently in a large, broad recession. Unemployment is at 10%.

We were. It's doubtful that we still are. GDP growth has clearly popped back above negative for the third quarter, which will break the two quarters technical requirement. Most economic readings right now are strong, from manufacturing to retail to job creation. It's more like we're in the equivalent of the first or second inning of the post great recession recovery now. This recession isn't broad, it's unusual in it…

Ignoring the importance of the bottom 1/3rd for consumer spending.

Re: Asana S-1

#162

Post by throwaway1777 »

supernova87a wrote: post #16

Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel. Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplify…

Things already turned south (in March) and are on the rebound now. Those who would've IPO'd a few months ago are starting to do it now.

Re: Asana S-1

#163

Post by james-mcelwain »

jolux wrote: post #126
wp381640 wrote: post #105

Earlier quoted context omitted.

You're making the mistake of valuing this IPO on its fundamentals while currently the market is largely being driven by liquidity. It's really hard to have a failed tech IPO at the moment with all the demand which is why they're all rushing the gates. It'll take a large, broad recession to bring tech stocks back down I'd expect Asana, Unity, Sumo and Snowflake to all pop and stay up in the short term I'd add AirBNB t…

We are currently in a large, broad recession. Unemployment is at 10%.

There's no alternative to equities. These prices could continue to go up for years, even if the bottom totally falls out.

Re: Asana S-1

#164

Post by james-mcelwain »

siemprenocasa wrote: post #155
supernova87a wrote: post #16

Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel. Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplify…

Related - why are there so many IPOs particularly right now? It seems like there is more than usual IPOs this August compared to previous years: https://www.nasdaq.com/market-activity/ipos

Just look at the price action on any big tech stock and pretend you're a tech investor looking for a big exit. People are pouring money into equities, particularly tech.

Re: Asana S-1

#165

Post by james-mcelwain »

dman wrote: post #58
tempsy wrote: post #51

Earlier quoted context omitted.

Very crowded market - not very sticky either relative to other SaaS type cos. I would avoid this one personally.

Am going to short this one once it is out- saying this as someone who has been a user.

Hope you have good margin rates, you could be waiting a long time. A lot of these are steaming piles of shit if you think about fundamentals but the market doesn't care about fundamentals.

Re: Asana S-1

#166

Post by warent »

throwaway1777 wrote: post #162
supernova87a wrote: post #16

Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel. Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplify…

Things already turned south (in March) and are on the rebound now. Those who would've IPO'd a few months ago are starting to do it now.

This was my take on it as well, bottoming out around June-ish (off the top of my head. can't exactly recall). I thought we were beginning the steady slog back up?

Re: Asana S-1

#167

Post by juancampa »

dmart wrote: post #18

I've found Asana to be a much, much nicer product to work with than Jira (at least as a developer, not sure about from the management side.) I genuinely wish them success and hope they're able to grow their marketshare.

I'm surprised no one has mentioned https://clubhouse.io/. We've been using it and it's like 10 times faster than Jira

Re: Asana S-1

#168

Post by imslavko »

chrisco255 wrote: post #153
untog wrote: post #98

Earlier quoted context omitted.

In fairness the decision was made in 2009. I still don’t think it was the right decision but it feels a lot more understandable to have made that choice when looking at the frameworks available in 09 rather than 2020.

Was this a front end web framework or back end?

I never worked at Asana but I heard it was both, it had code sharing between client and server, some server-side javascript before node.js (I think it was based on JSC) and something similar to isomorphic javascript before this term was coined by Airbnb. If you look at Meteor, a lot of similar ideas migrated there.

Re: Asana S-1

#169

Post by zelly »

supernova87a wrote: post #16

Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel. Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplify…

That's just the way corporate America operates. They hire lots of people because it's a better utilization of money than just giving money back to investors. If you give money back to investors, you're not growing anymore and have failed. If you reinvest (and for a pure tech company with no physical assets, that has to be hiring), maybe one of them can grow the company.

Re: Asana S-1

#170

Post by ahupp »

tantaman wrote: post #138
phaedryx wrote: post #86

Earlier quoted context omitted.

"Our founding engineers had learned from their experience working at Google and Facebook that to ensure a performant and stable application, they would need to build their own framework" Wow. Interesting.

weird. Not sure how they would have been hired at Google or FB with this mindset.

Dustin Moskovitz, one of the "founding engineers", was a co-founder of Facebook.
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