Max Beauroyre

Without discipline, spontaneity is just distraction.

The Maumee River anchors the largest river basin in the Great Lakes watershed, and 80 percent of the land in that basin is farmland — including roughly 1700 acres of Seiler land. The tributary runs from Fort Wayne, Indiana, into Lake Erie, and farms all along its length have leached in tons and tons of phosphorus from commercial fertilizers. Lake... See more

Those concerned with the climate impacts of agriculture are desperate for more farmers to adopt the practices that Seiler has carefully and passionately implemented on his land for decades. But what happens when those very farmers are turned off by climate politics and the culture surrounding them

Enterprise is $71k ACV on average, Mid-market is $36k, SMB is $23k, and small customers are $14k ACV. Deal sizes are all up over the past 24 months outside of the smallest customers

As you can see, with ~$700M in revenue, the company still reports an operating loss. The company has grown its costs base almost as fast as its revenues, which gives me some pause. Even General and Administrative costs, which often have the most operating leverage, have increased to become a larger percentage of revenue. Now, the company might have... See more

As of right now, Avalara has mostly been focused on the Mid-Market (50-500 employees) and Small and Mid-sized Businesses (SMB) segments. Their largest competitor in this segment is manual processes. It is clear that a large percentage of the businesses in this segment will transition to automated solutions eventually.

The reason for this slowdown in growth could be as simple as the incredible growth experienced in 2021. To compete in the non-US market, it seems clear from my research that Avalara will need more tax content and tailor its capabilities to the local needs. This could be very lucrative, but it will take a lot of effort and resources to capture a... See more