Jon, it’d be extremely helpful if we saw what you wrote below prior to BILL earnings. Would you please share where’s this “elsewhere” so in the future we can learn from your valuable insights? Thanks.
I am going to paste below what I wrote to some elsewhere about Ramp vs BILL:
When I held BILL at 30% allocation sometime in early April, I did huge amount of digging to compare BILL / divvy with its competitors.
From what I can tell Ramp has the best product, best product innovation, and best product pace. There is just no question about it.
After realizing BILL is far from being the best out there and Ramp was catching up very quickly to Divvy’s run rate, increasing recession risk (and the increased perception of it by the market) I quickly decided to trim BILL down to 6%. And now after (in my view) the disappointing earnings I am totally out.