Inside the Network

Inside the Network Pod
Inside the Network

Welcome to the inside track of cybersecurity entrepreneurship. We bring you the best founders, operators, and investors building the future of cybersecurity.

Episodes

  1. Dug Song: Values over valuation—reflections on building Duo Security and leading with purpose

    3D AGO

    Dug Song: Values over valuation—reflections on building Duo Security and leading with purpose

    In this episode of Inside the Network, we sit down with Dug Song, the legendary co-founder and former CEO of Duo Security. Dug's journey is nothing short of iconic—he turned a side project into a cybersecurity powerhouse with over 50,000 customers and a $2.35 billion exit to Cisco. In a world obsessed with unicorn status and funding hype, Dug stands out as a founder who stayed grounded in values, culture, and customer empathy. We explore Dug’s early years—from doing data entry in his father’s liquor store in West Baltimore to cutting his teeth at Arbor Networks, leaving security, and coming back to change how security is delivered. Dug was also part of the hacker collective w00w00, alongside future tech luminaries like Jan Koum (WhatsApp) and Shawn Fanning (Napster), where he honed the ethos of solving hard problems and building in community. These experiences laid the foundation for Duo, which Dug and co-founder Jon Oberheide started not with a grand business plan but a desire to democratize security and make strong authentication simple and usable for all organizations—not just the Fortune 500. This conversation is packed with actionable lessons for founders: how to build a billion-dollar business with capital efficiency and discipline; how to prioritize user experience in security, not just infrastructure; and how to lead with integrity and build a “learning organization” that continuously improves across every function—engineering, sales, marketing, and customer success. Dug also gives an inside look at the decision to sell Duo to Cisco versus going public and what that choice meant for the company, team, and customers. We then dive into Dug’s post-Duo chapter, where he and his wife Linh are reshaping philanthropy and backing the next generation of founders in Michigan, Detroit, and beyond. From punk rock to planetary-scale startups, Dug brings a rare mix of grit, humility, and wisdom, making this episode a must-listen for any entrepreneur.

    1h 26m
  2. Jeetu Patel: Cisco’s AI-powered cybersecurity future

    MAR 5

    Jeetu Patel: Cisco’s AI-powered cybersecurity future

    In this episode of Inside the Network, we sit down with Jeetu Patel, Cisco’s Executive Vice President and Chief Product Officer. Jeetu previously led Cisco’s Security and Collaboration business units. Under his leadership, these divisions have become major growth engines fueled by AI-driven innovation, strategic acquisitions, and a renewed focus on user experience. With a market cap of $250 billion and a security business generating $10 billion in revenue, Cisco is evolving into a different kind of startup, one that moves with speed and urgency. Jeetu shares why he joined Cisco to spearhead this transformation and how the company is positioning itself in the cybersecurity space, competing with incumbents like Palo Alto Networks and Zscaler, as well as disruptors like Wiz and Cato Networks. We explore how Cisco’s $28 billion acquisition of Splunk, along with key deals like Armorblox, Isovalent, and Robust Intelligence, is reshaping its security business. Jeetu also dives into the challenges CISOs face today - tool sprawl, talent shortages, and AI-driven threats - and how Cisco plans to simplify security at scale. For founders, Jeetu breaks down his six-vector rubric for evaluating opportunities, the key factors Cisco considers in acquisitions, and what startup leaders need to do to get Cisco’s attention. He also provides an inside look at Cisco’s legendary distribution machine and how startups can leverage it for hypergrowth. Finally, we discuss Jeetu’s concept of a "personal board" and his views on navigating geopolitical challenges in the tech industry.

    1h 2m
  3. Shlomo Kramer: A playbook for building three multi billion-dollar cybersecurity companies - Cato Networks, Check Point, and Imperva

    FEB 3

    Shlomo Kramer: A playbook for building three multi billion-dollar cybersecurity companies - Cato Networks, Check Point, and Imperva

    Shlomo Kramer, CEO and co-founder of Cato Networks is a rare bird in the cybersecurity industry, having built three unicorns in his career. For many in the cybersecurity industry, Sholmo needs no introduction. One of the early pioneers in Israel’s cybersecurity startup ecosystem, what makes Shlomo remarkable is his ability to repeatedly build category-defining companies. He first co-founded Check Point, which pioneered the firewall category and today commands a $20 billion market cap. Then, seeing the shift to the cloud, he launched Imperva, focusing on web application security (WAF). That was his second IPO. Now with Cato Networks, he's created an entirely new category called SASE – Secure Access Service Edge – and Cato has already reached over $200 million in annual recurring revenue. But Shlomo isn't just a builder – he's also a remarkably successful investor with an eye for transformative companies. His portfolio includes Trusteer, which IBM acquired for $1 billion, and Palo Alto Networks, in which he wrote the first angel check and sat on its board - a company now valued well over $100 billion dollars. In this episode, we get inside the mind of the only entrepreneur we know who's on track to potentially take his third cybersecurity company public. Many founders are satisfied with one IPO, some rarely go to two and Shlomo is on track for his third IPO - a hat trick if he pulls it off. In the cybersecurity hall of fame, very few could equal what Shlomo has accomplished. We discuss building cybersecurity companies, the evolution of the security market over the past three decades, why founders should focus on their customers instead of competitors, how building startups has changed from when Shlomo started Check Point, and many other aspects of the founder's journey.

    47 min
  4. Hamza Fodderwala: The future of cybersecurity —  2024 retrospective, 2025 predictions and what founders need to know

    12/29/2024

    Hamza Fodderwala: The future of cybersecurity — 2024 retrospective, 2025 predictions and what founders need to know

    In this holiday episode special, we’re joined by Hamza Fodderwala, Executive Director at Morgan Stanley, where he leads cybersecurity equity coverage. He joined Morgan Stanley's software research team in early 2016 and leads coverage for public cybersecurity companies like Palo Alto Networks, CrowdStrike, Fortinet, SentinelOne, Okta, Zscaler, Cloudflare, Rapid7, Check Point, Qualys, Varonis and Tenable. Before Morgan Stanley, Hamza was an equity research associate at Susquehanna International Group covering the financial technology sector. Hamza graduated from New York University, with a Bachelor of Arts in Economics. We dive into Hamza’s insights on the major customer buying patterns in cybersecurity throughout 2024 and what might shift in 2025. Hamza shares his observations on how the Generative AI boom is influencing product adoption in the industry, and whether enterprises are currently adopting AI security solutions. Additionally, we explore key trends from cybersecurity resellers, discuss what might unlock public equity markets for new IPOs, and which private cyber companies could go public next. Our discussion covers the cybersecurity M&A landscape, highlighting over $50B in deal volume this year with companies like Juniper, Darktrace, Recorded Future, Synopsys, Venafi, and more all getting acquired. Finally, Hamza shares lessons for founders, offering advice on identifying areas ripe for disruption, navigating the venture funding landscape, and building resilience in a competitive industry.

    57 min
  5. Doug Merritt: Creating a decacorn in Splunk and identifying trends

    08/30/2024

    Doug Merritt: Creating a decacorn in Splunk and identifying trends

    In this episode we have a special guest - Doug Merritt - who has shaped not a unicorn but a decacorn - a company valued at more than $10 billion. As the former CEO of Splunk, he steered this big data company to extraordinary heights. In just six years under Doug's leadership, Splunk's market cap soared past $25 billion, and its annual recurring revenue skyrocketed from $200 million to a staggering $3 billion. At its peak, over 50% of Splunk revenues came from security applications. Doug's journey began as a coder and developer before transitioning to sales leadership and eventually CEO of a publicly traded company. His entrepreneurial roots trace back to founding a company called Icarian, which was acquired by WorkStream. He then went on to hold senior management positions at tech giants like Cisco, SAP, and PeopleSoft. Today Doug is the Chairman and CEO of Aviatrix, a secure cloud networking leader that has raised over $350 million in venture funding and serves over 500 global customers. Throughout his time at Splunk, Doug hired, mentored, and promoted well-known executives in the infrastructure and cyber industry, from Haiyan Song to Jason Child to Snehal Antani. In this episode, Doug discusses what he looks for in executives, how he evaluates their ability to succeed, and what founders should keep in mind when building their leadership teams. As the CEO of Splunk, Doug led several acquisitions including SignalFx and Phantom Cyber. On Inside the Network, he shares how founders should think about M&A and what they need to do to achieve successful exits. In our conversation, we'll explore Doug's career evolution, insights from his founder experience, and key lessons learned while scaling Splunk into a decacorn. We'll also discuss his current role at Aviatrix and his vision for the future of cloud technology and generative AI.

    58 min
  6. Jon Gelsey: Building Auth0, the only PLG company in cybersecurity to achieve a multi-billion dollar exit

    08/01/2024

    Jon Gelsey: Building Auth0, the only PLG company in cybersecurity to achieve a multi-billion dollar exit

    Our guest in this episode is Jon Gelsey. Jon was the first CEO of Auth0, a leading identity-as-a-service platform, which grew from 5 to 300 employees during his four years at the helm. Auth0 was acquired by Okta in February 2021 for $6.5B. After Auth0, Jon served as CEO of Xnor, a computer vision and machine learning spinoff of the Allen Institute. The company was acquired by Apple for ~$200M in January 2020.  When Auth0 first started in 2013, there were already several authentication vendors in the market. Okta, ForgeRock, and OneLogin had all built considerable scale by the time Auth0 launched its product. Not only did Jon and the team build a successful company in a very crowded space, but they also did it their way. While all of Auth0’s competitors were running a top-down GTM motion, Jon made a critical decision to adopt a bottom-up, product-led growth (PLG) strategy. Instead of relying on traditional marketing tactics for demand generation, Auth0 built an extensive content rollout plan to help drive inbound interest in the product. To date, Auth0 is the only PLG company in cybersecurity to achieve a multi-billion dollar exit. On Inside the Network, Jon talks about building go-to-market strategies, identifying the right buyer personas, and establishing success metrics for customer acquisition.   In addition to his experience as a serial entrepreneur, Jon worked on the M&A and strategy team at Microsoft from 2007 to 2014 where he led several acquisitions for the company. Jon shares the tips and tricks founders need to know to plan, negotiate, and successfully close acquisitions with potential buyers.

    58 min
    5
    out of 5
    13 Ratings

    About

    Welcome to the inside track of cybersecurity entrepreneurship. We bring you the best founders, operators, and investors building the future of cybersecurity.

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