20VC: Atlassian CEO on Why Everything is Overvalued & Are We in an AI Bubble | Do Margins Matter & Does Defensibility Exist in an AI World | Is Per Seat Pricing Dead & The Future of Vibe Coding with Mike Cannon-Brookes

reasonable men sort of live within the boundaries and so you need unreasonable men to change things and move the world forward. One of the only predictions I think I would make accurately is 10 years from now we'll look back and say, man, you remember that era? That was crazy. Most of the things are vastly overvalued. Five years from now we'll have more engineers working for our company than we do today.

More software developers working for our companies. We will create far more. They will be more efficient. My favorite quote of Tobes is uh he once told me that the founder's job is to fight the entropy of ambition. This is 20VC with me, Harry Stebbings.

Now, I started 20 VC 11 years ago to have the chance to interview incredible entrepreneurs like the one we have sitting down with us today. He is one of the greats, Mike Cannonbrooks, co-founder and CEO of Atlassian, the $50 billion software giant behind products like Jira. Confluence and Trello. Since founding the company in 2002, he's scaled Atlassian to over 300,000 customers, generating more than $5 billion for the year of 2025 in annual revenue. Atlassian now employs over 10,000 people and is one of the most successful bootstrapped IPO stories in tech history.

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