Starrob posted the below-linked McKinnon interview on the OKTA board. My takeaways from the interview:

  1. It’s a reminder that we are still very early in connecting cloud things.
  2. Identity does seem to be in the middle of it.
  3. OKTA may be on the threshold of creating an industry standard or OKTA network effect.
    Link: (https://www.thestreet.com/technology/okta-ceo-on-right-side-…)
    Your takeaways? Am I premature to even think about an OKTA network effect?
    I only recently discovered that a major OKTA competitor has restructured:
  4. OKTA now competes with Idaptive, an Identity-as-a-Service stand-alone company spun off from Centrify.
  5. Centrify is now purely a Privileged Access Management company and competes with CyberArk (CYBR). CYBR and OKTA are partners.
  6. Centrify has been mentioned on these boards previously.
    I’m taking this refocused competitor with a new name as a minor negative in the OKTA story.
    Link: (https://www.thomabravo.com/media/centrify-announces-focus-on…)
    Nevertheless, I think Thoma Bravo bears watching because among other things they:
  7. Have refocused Centrify/Idaptive.
  8. Brought SAIL public.
  9. Have sold businesses to Roper Technologies (ROP).
  10. Recently acquired Ellie Mae (ELLI) for $3.7 billion.
    Investment implications for me:
  11. I’m long OKTA and SAIL.
  12. I’m looking for an entry point in CYBR because growth has accelerated.
  13. OKTA, SAIL, and CYBR are all leaders in their Gartner Magic Quadrant niche. They appear to be an effective set of business partners, perhaps they will be a good set investment partners also.
  14. ROP is a MF recommendation. It’s a unique company. I sold my shares way, way too soon.
  15. I’ve seen ELLI mentioned around MF, never owned it.
    Enough lists. It’s almost Sunday morning. As I look back at my overtrading of OKTA and other stocks in 2018, I might give up trading and “rightsizing” for Lent.