The article talks about this. The problem is that growth is not there.
What you're left is a company with 8000 employees and a system to problematic to change.
With the recession incoming, the time for free money is over and tech startups are bound for a correction. I'd sell or get ready to wait 10-20 years.
Even in the wait scenario, you're basically hoping that a huge corporation will transform itself and rediscover their startup roots - which is not likely to happen.
It happened with Mashape (sold their unprofitable marketplace to the RapidAPI people - geez, what a bad deal, it was painful to watch) and they managed to reinvent themselves with Kong.
They literally did a bunch of experiments and went on with what succeeded, ignoring their main, flawed, business model.
That's what companies should do to chase success, they need to act like venture incubator, don't bother their teams with corporate BS and hope one of their teams will succeed. If they behave like mammoth corporations they're doomed to fail.
And their typical customers are the least exposed to recessions i.e. medium to large companies who are making software purchasing decisions for the long term.
Atlassian isn't a US company, and if the US is going to have a recession (which I think is doubtful), Australia certainly has a good record on avoiding them.
Atlassian's largest source of income is almost certainly the US.
And even if Australia is unaffected by an American recession, much of Europe, and much of Asia won't be (especially with China's growth slowing down).
Which brings me to my second point, which is the only reason Australia was able to avoid a US recession was selling itself to China, something which it is politically unlikely to do so anymore (although I'm not up to date on the new PM's China policy) and anyways, China may not have the capacity or willingness to support Australia anymore.
Australia recessions are uncorrelated with US due to mining and other raw materials exports being a huge share of their economy... especially selling those materials to China.
I doubt miners are big Jira users.
US tech companies who are cratering right now though...
Yes but with the chance at a job-for-life guarantee and possibly months off per year.
My wife & I have a couple academic friends and they make 1/4 our income probably, but they are unfireable & they also just took off for another 6 weeks stay in southern Europe at a family home this summer .. so there's that.
Guaranteed income & time flexibility are hard to measure in absolute dollars.
My wife & I are on the other hand on our 5th/6th job in our almost 20 year careers, never having had more than 2.5 weeks off consecutively. The hustle now is maximizing the dollars and building some alternative income streams so we can start to wind down the intensity in maybe 10 years and fully exit workforce in 20 years?
What you're left is a company with 8000 employees and a system to problematic to change.
With the recession incoming, the time for free money is over and tech startups are bound for a correction. I'd sell or get ready to wait 10-20 years.
Even in the wait scenario, you're basically hoping that a huge corporation will transform itself and rediscover their startup roots - which is not likely to happen.
It happened with Mashape (sold their unprofitable marketplace to the RapidAPI people - geez, what a bad deal, it was painful to watch) and they managed to reinvent themselves with Kong.
They literally did a bunch of experiments and went on with what succeeded, ignoring their main, flawed, business model.
That's what companies should do to chase success, they need to act like venture incubator, don't bother their teams with corporate BS and hope one of their teams will succeed. If they behave like mammoth corporations they're doomed to fail.