Okta CEO Todd MacKinnon | Dynamic Work | Summary and Q&A

TL;DR

Learn how Todd McKinnon, Co-founder and CEO of Octa, successfully navigated the challenges of the pandemic by prioritizing health and safety, adapting to remote work, and seizing opportunities in the digital-first economy.

Key Insights

• 😶‍🌫️ Octa recognized the potential of cloud technology early on and focused on solving identity challenges in the digital-first economy.
• 😶‍🌫️ McKinnon's decision to leave Salesforce and start Octa was driven by his belief in the future of cloud-based services and the strategic importance of identity solutions in the evolving technology landscape.
• 🤩 Octa's products address key workforce and customer identity challenges, enabling secure and seamless access to applications and websites.
• 🧑‍⚕️ The company successfully adapted to remote work during the pandemic, prioritizing the health and safety of its employees and leveraging online platforms to reach a wider audience.
• 🙈 Octa sees future opportunities in evangelizing the importance of identity in technology and seizing the potential of the digital-first economy through innovation and strategic partnerships.

Transcript

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Questions & Answers

Q: What was the motivation behind starting Octa?

Todd McKinnon and Freddie Kerrie were inspired by the success of cloud technology and the potential for a cloud-based identity platform to solve the growing identity challenges in the digital-first economy. They recognized the strategic importance of identity solutions in a world where remote access and a multitude of application choices were becoming the norm.

Q: How did McKinnon navigate the risk of leaving his prestigious role at Salesforce to start Octa?

McKinnon felt a strong conviction about the opportunities in the emerging cloud industry and wanted to seize the chance to build something impactful. He recognized that successful companies often emerged during times of technological transition and didn't want to miss out on the potential of cloud technology. Despite the economic downturn and initial skepticism from others, he believed in the long-term potential of Octa and was willing to take the risk.

Q: How did Octa adapt during the pandemic and the shift to remote work?

Octa prioritized the health and safety of its employees and quickly adapted to remote work. The company successfully transformed its annual Octane conference into a virtual event, leveraging online platforms to reach a wider audience and deliver its message effectively. Octa also saw an increased demand for its products, such as Advanced Server Access, which enables secure remote access to servers, aligning with the growing need for remote work solutions.

Q: What are Octa's future plans and how do they aim to thrive in the digital-first economy?

Octa is focused on evangelizing its belief that identity is at the center of technology, emphasizing the importance of identity solutions for workforce and customer needs. The company aims to leverage its platform and brand to become a leader in the identity market, providing solutions that enable organizations to access any technology seamlessly. Octa also sees opportunities for growth through mergers and acquisitions, leveraging its valuable equity to bolster technologies and teams.

Summary

In this episode of Grey Matter, Sarah Guo interviews Todd McKinnon, the co-founder and CEO of Octa, a cloud-based identity and access management platform. McKinnon discusses the founding story of Octa, the challenges they faced, and how they adapted to the changing landscape brought about by the pandemic. He emphasizes the importance of being decisive as a leader, prioritizing health and safety, and staying visible and transparent during times of uncertainty. McKinnon also shares how Octa is going on the offensive by evangelizing the importance of identity in the digital world and leveraging their position to make strategic moves, such as mergers and acquisitions. He acknowledges that the current situation is not over and highlights the need for continued innovation and adaptation in a dynamic work environment.

Questions & Answers

Q: Could you tell us a little bit about yourself and the founding story of Octa?

Before founding Octa, I worked at Salesforce and focused on engineering and development. My experience in both Salesforce and Peoplesoft, where I worked on identity products, made me realize the importance of identity challenges in the new cloud-based world. My co-founder and I started Octa to address the growing need for secure and reliable identity management in the cloud.

Q: How did you think about taking the risk of starting a new company when you were in a good position at Salesforce?

While my job at Salesforce was great, I couldn't ignore the potential opportunities in the cloud industry. Looking back at the success of companies that emerged during the dot-com bubble, I knew that there would be a big opportunity in the cloud space. I didn't want to miss out on that chance, so I took the risk and started Octa. Quitting my job was the hardest part, especially with a newborn daughter and an economic downturn, but I believed in the potential and had the support of my wife.

Q: How did you approach decision-making during the pandemic, considering the high stakes involved?

The pandemic presented new challenges and forced us to make decisions that could impact the health and safety of our employees. The top priority was always clear: the health and safety of everyone. We had to adapt quickly and make decisions that aligned with this priority, even if it meant making unconventional choices. It was a humbling experience, and I made sure that the company understood the gravity of the situation and the need to make the right decisions.

Q: How did you adapt Octa's customer interactions and roadmap in response to the pandemic?

Octa was fortunate to be in a business that could still operate and assist customers remotely. We focused on customer success and ensured that our products addressed their needs in the new digital-first economy. For example, our advanced server access product became increasingly relevant as more server admins needed secure remote access. We leveraged our culture of customer-centricity and innovation to provide solutions and support in these challenging times.

Q: What do you think are the remaining challenges for Octa in operating and innovating in the current environment?

While we have adapted and achieved success in the past few months, the challenges are not over. In the long run, we need to ensure that we can continue innovating and developing new products in a working environment that has rapidly changed. We need to be open to new ideas, facilitate collaboration, and embrace a dynamic approach to work. It is essential to avoid complacency and continuously strive for improvement and innovation.

Q: How do you balance being decisive and open to input during uncertain times?

Strike a balance between being open to input and being decisive is crucial. While it is essential to listen to others and consider their perspectives, I believe that being decisive is often more valuable than being indecisive. Trust your instincts and make decisions based on the information at hand. Overanalyzing and over-processing can hinder progress. Decisiveness, combined with a willingness to adapt and learn, is a powerful combination.

Q: What is Octa's future vision for dynamic work?

Octa's vision for dynamic work is to provide employees with flexibility in utilizing the office space. We want employees to have the freedom to work remotely and use the office as a collaborative space when needed. This vision aims to attract the best talent and reduce real estate costs. We want to enable a dynamic work environment that maximizes productivity and collaboration while minimizing physical constraints.

Takeaways

The interview with Todd McKinnon, the CEO of Octa, sheds light on the challenges and opportunities faced by companies during the pandemic. McKinnon emphasizes the importance of being decisive as a leader, making decisions that prioritize health and safety, and maintaining visibility and transparency with employees. He also highlights the need for continued innovation and adaptation in a dynamic work environment. Octa's focus on customer success and the evangelization of identity as an essential component of the digital-first economy allows the company to position itself strategically and go on the offensive. Octa's future vision includes fostering a dynamic work environment that offers flexibility and maximizes productivity.

Summary & Key Takeaways

• Octa, a cloud-based identity platform, was founded by Todd McKinnon and his co-founder Freddie Kerrie in 2009. They recognized the growing importance of identity solutions in the cloud and the potential for a cloud-based identity platform.

• McKinnon's decision to leave his prestigious role as head of engineering at Salesforce to start Octa was driven by his conviction in the potential of cloud technology and the strategic importance of solving identity challenges in the new era of remote work and increased reliance on cloud-based services.

• Octa's product offerings focus on workforce and customer identity, providing solutions for employees to log into business applications securely and for customers to access websites and mobile apps with ease. The company aims to enable any organization to use any technology seamlessly.