Capital Efficiency Through Hypergrowth: Lessons from Zoom and Veeva on the Acquired Podcast

3 MIN READ

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The Emergence Team

12:00 am

PDT

May 12, 2025

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At our recent Emergence CEO Summit, we invited the hosts of the Acquired podcast, Ben Gilbert and David Rosenthal, to interview Peter Gassner, CEO of Veeva, and Eric Yuan, CEO of Zoom. Together, Peter and Eric have built two of the most iconic capital-efficient companies in the world. Emergence was lucky to be the first institutional investor in both companies, and neither used any of the money they raised from us.

Given the market downturn, there’s never been a better time to learn lessons on how to grow quickly while maintaining capital efficiency. Here are some of the nuggets you’ll learn in the episode:

  • How to adopt a capital efficiency mindset
  • Eric’s advice on where to focus your energy (and dollars) in the early stages of growth
  • Peter’s secret to finding product-market fit
  • Eric’s perspective on how to spend money on marketing while remaining capital-efficient
  • Eric’s perspective on when to leverage marketing to grow your users

Listen to the episode on Acquired’s website or watch the video below.


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