Companies that prove they're growing will survive the AI transition; Atlassian's stock jumped 50% after nailing its quarter, while those that can't demonstrate growth remain trapped at 2-3x revenue multiples.
Atlassian posted its biggest jump since 2015 after delivering strong results, proving that execution and growth resolve existential concerns—but companies stuck at low multiples without growth trajectory face permanent discount. ✦ AI generated
Rory · 20VC · 2026-08-13 · original ↗
starts at this moment · 120:51
“Any takeaways from some of the big results that came out?”
The only way you prove that you're not dying is by growing. To Jason's point, right? The thing that's pleasing about life is if you pull off the important thing, the hard thing itself, then the markets will follow... if you get it back on track in the with the fundamentals the stock will follow right but if you don't and some of the others that you mentioned didn't then you know you're stuck in two and 3x land forever more.
verbatim transcript · starts at 120:51
(00:00:00) There's going to be a lot of people paying the bill in 26 and 27 for a certain amount of hesitancy in 23 and 24. The only way you prove that you're not dying is by growing. So, what happened this week that we discussed? Canva cuts 2026 growth by a third. Ouch. As AI serving costs blow up. Next, Jeff Dean leaves Google after 27 years. Damisabis, the OG of AI, then steps back
(00:00:24) from Google Deep Mind. Also, god poor Sundar. That is one bad day at the office. And then Elon Musk, as always, comes out with one of the most ambitious projects with Terraab, where we unpack the jobs that come from it. The first real installment of $16.8 billion and just what it would mean for him in terms of structurally not having to beg at the Tower of TSMC.
(00:00:47) >> I mean, this is such an entitled podcast. Oh, poor anthropic engineer only made 35 million. I mean, go out to the goddamn panhandle. No one's making 50 grand. It must be extraordinary validating if you're Jeff Dean to leave as a non CEO of a two or three trillion dollar market cap public company and have the stock go down by a couple hundred billion [music] dollars. Google's efforts so far are B+ A minus.