01:50:54 · Jordi Hays, David Faugno, John Coogan
[01:50:54] S0: Come on, [01:50:54] S2: come on. You you ring the ring the bell, which I love. What was exciting for us is we were... We accelerated through that that milestone. Yeah. That new ARR for q three was 90% growth year over year. We're adding new logos on the B2B side at 150% growth over quarter over last year, third quarter. And it's very much driven by awareness that especially in the development cycle, agents need access. Yeah. And, that access when it's left standing around is a ticking time bomb. Yeah. So that's been sort of a big catalyst for our business, but there's other things going on now too that that that are complementing that. We saw this breakthrough a couple quarters ago around personal agents. [01:51:40] S1: Yep. [01:51:40] S2: And it's the next big way that AI is being used in an agentic way to help people. We were right in the middle of that. We could talk a little bit about that as well. But that's been something that we launched this week as well. One Password for Agents [01:51:51] S1: Yeah.
01:51:51 · John Coogan, David Faugno
[01:51:51] S1: Yeah. [01:51:51] S2: With our launch partners, which included the likes of space SpaceX SI, I'm getting the name right. Yeah. MedMuse, Anthropic, OpenAI, and sort of all the folks that are building the agents. And then at the same time, you know, the vulnerability apocalypse has descended upon us. And so there's a heightened awareness generally that agents will find access to things whether it's maliciously intended or just drift, and they will do unintended things. And so this sort of ability to say it's not gonna be me or be a little bit lazy with your credential hygiene, that's not gonna work anymore. And people are starting to realize and they're coming to 1Password to help. So that's where we are.
01:52:34 · John Coogan, David Faugno
[01:52:34] S1: How... What what have you what have you learned from 1Password customers about the gradations of trust between families and organizations and how passwords get shared? Like, it's very interesting that the default model is not just, you know, every password gets shared with every family member, and that feels like intentional from a clutter perspective, but also you might have two separate accounts for, you know, email, and you don't necessarily always want them guessing each other and whatnot. But it feels like some of those learnings might actually apply to the way people work with executive assistant agents in the workplace and then also personal agents in the in the family setting. And I'm wondering how you think about setting one password for agents up for success where there's a controllability layer that the user can have between, look, I'm okay with my my personal agent of choice having access to my calendar, but maybe not my email. Or maybe just my personal email but now my work email or maybe just my work email and now my personal email. So how how... What patterns have you learned and how do you see this playing out or or how do you deal with this? Are you one of the people that just gives AI access to everything or nothing or well, how have you grappled with it? [01:53:53] S2: Yeah. No. One password for agents, is really built around their premise of just give the agents what they need. [01:53:59] S1: Yeah.
01:54:00 · David Faugno
[01:54:00] S2: Just just when they need it, just enough with full visibility. It's the same primitives that apply to what we do for businesses even very large enterprises. But again, these are non deterministic actors. Right? They... You don't know exactly what they're gonna do even when they're well intended. Yeah. And there's so many ways for something malicious to be done as well. And so you have to reduce that standing access. One way... One of the ways you reduce this is you don't give it out. Yeah. And so what we've done... What... Interestingly, all of the partners, it started with with Instinct and then quickly saw with MetaMuse and with and others. These partners we've been collaborating with for months now, they see it as well. People want to have that control and they'll only really lean in and use these tools if they know that there's this trust layer. And so we set this system up. We've been working for a long time on the primitives that allow that secret to never get into the model context. It's it's never in a file where an another agent can come and find it and do something else with it. It's just delivered for the agent for the task that it wants. And so you can scope that a lot of different ways. And we're working with each of those partners on the roadmaps as to what does that scoping and that control look like for the individual to exactly your use cases or the examples that you share. How long do I want to let the agent access this particular resource on my behalf and under what conditions. And so that's really the the basis of what we're bringing here is this trust layer that sits between, you know, the agents that would do work for you and and the people that are ultimately accountable for it. And we're just all in on it and it's been it's been great for our business, it ultimately it's aligned with our mission.
01:55:33 · John Coogan, Jordi Hays, David Faugno
[01:55:33] S1: Do [01:55:34] S0: you do you think at all about, like, more proactive features and products for... On the consumer side that you could do around personal security. It feels like... [01:55:45] S1: Watchtower is kind of like that. [01:55:47] S0: Yeah. But it but it feels like now is a time where there's like a lot of activation energy from consumers of like, wanna do something, but at the same time consumers are lazy. And so it feels like you guys have gained so much trust. [01:55:58] S1: Like a gentic watchtower would be like, yeah, I did use the same password 25 times when I was in college setting up random websites. Like, go change those passwords for me. Like, that's a possibility, but it's kind of crazy. But I don't know. Is there to make a deal? [01:56:12] S2: You're you're obviously... We're right down the path on that. A lot of [01:56:15] S1: that is what we'll [01:56:16] S2: do in conjunction with our partners too. [01:56:17] S1: Right?
01:56:17 · John Coogan, David Faugno
[01:56:17] S1: Right? [01:56:17] S2: And so, and then... And what you wanna make sure from our perspective that we work really hard to do is all of that activity happens and preserves the zero knowledge basis of our vault. So we do a lot with confidential computing to make sure that when those secrets get decrypted, if they needed to be decrypted for a reset or otherwise, it's never in a place where a bad actor or an agent can find it and do something with it. So very carefully constructing that, but yeah, absolutely you'll see that come. The other thing that's interesting to Jordan to your question is, what happens with preferences? You know, people's preferences, they're actually looking to have more control over that as well. And your context is a is a broad term, but there's some things that look somewhere between a secret and and context Mhmm. That people want portability and control on. And so I think you'll see more and more of what we do in connection with our partners as well as providing some of that control layer at the one password level as well. So it's really an exciting opportunity, but like first things first, making sure that those secrets stay safe because what we're seeing in all the crazy security incidents that are coming up now is vulnerabilities are not stopping. It's so easy and cheap and fast to utilize AI from an actor's perspective to get into systems, to get onto somebody's laptop. [01:57:35] S1: And the