Mostly metrics
Run the Numbers
E34: BlackRock Managing Director Tony Kim on the Secrets of Durable Companies

E34: BlackRock Managing Director Tony Kim on the Secrets of Durable Companies

Tony Kim, Managing Director at Blackrock, joins CJ this week to touch on the secrets of durable businesses, why TAM is an unreliable measure of potential, competitive moats and 2nd/3rd acts as necessary means for sustainable growth, and more. Supercharge your financial operations with Maxio. Request a demo at for 10% off your first year.


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@cjgustafson222 (CJ)

@TurpentineMedia (Turpentine)



00:00:00: Introduction

00:03:03: Definition and importance of durable revenue

00:05:35: Evaluating net dollar retention rate

00:09:08: Importance and calculation of TAM

00:16:45: Deconstructing and understanding real TAM

00:18:51: Thin wrappers and positioning companies

00:25:00: Comparing tech quality over different eras

00:28:58: Maturity and market attention for public companies

00:31:58: Necessity of moats and dominance in business

00:36:06: Evaluating companies

00:36:42: The importance of the second act in business

00:41:11: The value of a strategic narrative

00:45:02: What separates good CFOs from great CFOs

Mostly metrics
Run the Numbers
Run the Numbers is a twice-weekly podcast about financial metrics and business models, designed for ambitious people operating tech startups. It's a collection of things host CJ Gustafson (CFO at Partstech and writer of Mostly Metrics) has learned and thought about in the trenches as a tech CFO.
This show is meant to serve as a playbook of sorts for the stuff CJ wishes he knew earlier in his career, both from experience and from copying people smarter than himself.
Topics frequently touch upon Startup SaaS Metrics, Annual Budgeting, Financial Forecasting, Headcount, Equity, Dilution, and Fundraising – and how all of these drive business performance and growth.