01:45:41 · John Coogan, Andre Haddad
[01:45:41] S1: Yeah. Yeah. Last question for me. What is what what is the bottleneck to growth for you? What is it's such a beautiful business model as a marketplace, but are you spending a lot on marketing? Like, what is driving growth this year? And because I can't imagine that, like, higher gas prices affect you all that much. It has probably a little bit of an effect, but no more than any other business related to cars. But what is the biggest the biggest chunk of cost in the business these days? [01:46:14] S7: Well, you know, what's unique about the Turo business is we take on a lot of the risks that can happen, you know, during a trip. Whether that's, you know, a fender bender or a more significant, you know, incident or any unpaid incidental. So, you know, over the last few years, we've been perfecting, our ability to manage risk and to be, very good at predicting risk and and ensuring that we avoid kind of the trips that are risky and then focus on the the trips that are the most profitable, the least risky trips. So that's been a lot of the things that we've been doing behind the scenes that you don't necessarily see when you're actually using the app because you, you know, this is sort of behind the surface. And that's, I think, been the biggest bottleneck. You know, we we wanted to get to a place where we can be really good at risk management. [01:47:04] S1: Yep.
01:47:04 · John Coogan, Andre Haddad, Jordi Hays
[01:47:04] S1: Yep. [01:47:05] S7: And we're feeling great about the progress we've made there. You know, we've been growing, you know, our our business primarily focused on our most profitable trips. As a result, our profitability has dramatically increased in in '26, and, you know, we expect it to continue to grow significantly in '27. That I think is the biggest bottleneck. Yeah. And then secondly, continue to build awareness. Know, the the Turo brand is is very well known with, you know, the car enthusiasts like yourselves and and and others that are tech enthusiasts. But I think we still haven't penetrated the the... Fully penetrated the sort of the mass market of travel. Mhmm. And so we're very focused on driving a lot of brand awareness and brand building, you know, demands kind of capture, we call it internally type of activities. We've got a brand new campaign that's been alive now for a few months. You may have caught it on screens, rent a car, not a rental car. [01:48:02] S1: Yeah. [01:48:02] S7: You know, so we're we're building the brand and I think that's gonna help us drive growth alongside with great technology improvements and perfections of the service, over the next few years. [01:48:12] S0: Amazing. Well, we hope this interview helps Yeah. Drive increased growth and profitability. Because if you needed a if you needed a sign to go and rent a Porsche or an R8 this weekend, this is it. Yeah. Gotta get some sleighs on there too. [01:48:29] S1: Christmas is coming. [01:48:30] S0: Great to hang and yeah, great to finally meet.
01:48:30 · Jordi Hays, John Coogan, David Faugno
[01:48:30] S0: Great to hang and yeah, great to finally meet. [01:48:33] S1: Have a great rest of you. Day. Goodbye. Let me tell you about Console. Console builds AI agents that automate 70% of IT, HR and financeable giving employees instant resolution for access requests and password resets. Our next guest is returning to the show for the third time. We're the CEO of 1Password. David, welcome to TBPN. Here it back. Thank you for your service amid Yeah. Black October. Sleeping. Hope But [01:49:03] S0: thank you... I've been sending... I've been just texting the one password website to people. This is... If you're scared, it's like, you know, it's warranted to be scared but here's [01:49:14] S1: Yeah. [01:49:15] S0: One simple thing you can do to start your personal security journey. [01:49:19] S1: I saw a tweet that was like, this is the weekend to sit down with all your family, get everyone on one password. [01:49:24] S0: You lined this up perfectly with with Austin F1, you guys are Red Bull sponsors, so... Driving driving quality awareness Yes. To motor sports enthusiasts. [01:49:36] S1: Yes. [01:49:37] S2: Yeah. It's funny. The the... You first of all for having me and also for sharing the sharing the word. You know, the the post that made last year about, like, the basics, you know. So, like, I've seen it on my Twitter, you know, my ex timeline a 100 times now. Yeah. And there is really... You gotta get back to basics right now because it's pretty scary out there. So anyway
01:49:37 · David Faugno, John Coogan, Andre Haddad, Jordi Hays
[01:49:37] S2: Yeah. It's funny. The the... You first of all for having me and also for sharing the sharing the word. You know, the the post that made last year about, like, the basics, you know. So, like, I've seen it on my Twitter, you know, my ex timeline a 100 times now. Yeah. And there is really... You gotta get back to basics right now because it's pretty scary out there. So anyway [01:49:57] S1: Yeah. So yeah. What else is going on inside of 1Password, the organization? What what can you tell us? What can you share both for consumers, obviously, like get on 1Password, but for entrepreneurs, for founders, for Fortune 500 CEOs, What are the... What's the nature of the conversation that you're having with other business leaders about security in this particular moment? [01:50:21] S2: Yeah. You know, it's it's interesting. Almost all of the AI oriented, you know, productive uses of AI for the last, you know, couple years have been around the developer use case, coding use case. And so, you know, trillions of dollars of value around helping people code more effectively and faster. And, you know, we've been a very big beneficiary of that as well. Our developer tools have driven our business. We put out a press release around our business momentum, about a $500,000,000 in ARR now. We're across that threshold, and we did it at Accelerate. So Accelerate That's... [01:50:53] S7: And thank you for that. [01:50:54] S0: Come on,
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.