# Print

How they make money. Who builds the product. Mix is how the book is usually told — not a filing.

- [How does Creatio print?](https://trustband.app/print/creatio.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Grafana Labs print?](https://trustband.app/print/grafana-labs.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Gong.io print?](https://trustband.app/print/gong.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Navan print?](https://trustband.app/print/navan.md) — A take-rate on the transaction.
- [How does SAP print?](https://trustband.app/print/sap.md) — Recurring seats, then services. The AE sells the cloud.
- [How does HashiCorp print?](https://trustband.app/print/hashicorp.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Confluent print?](https://trustband.app/print/confluent.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Sigma Computing print?](https://trustband.app/print/sigma-computing.md) — Recurring seats, then services. The AE sells the cloud.
- [How does ScaleOps print?](https://trustband.app/print/scaleops.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Rubrik print?](https://trustband.app/print/rubrik.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Everpure print?](https://trustband.app/print/everpure.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Snowflake print?](https://trustband.app/print/snowflake.md) — Consumption. Credits burned in the warehouse. The commit is the forecast.
- [How does Databricks print?](https://trustband.app/print/databricks.md) — Consumption on the lakehouse. The AE sells the commit. Usage is the bill.
- [How does World Wide Technology print?](https://trustband.app/print/wwt.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Wiz print?](https://trustband.app/print/wiz.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Arista print?](https://trustband.app/print/arista.md) — Recurring seats, then services. The AE sells the cloud.
- [How does ServiceNow print?](https://trustband.app/print/servicenow.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Hightouch print?](https://trustband.app/print/hightouch.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Harvey print?](https://trustband.app/print/harvey.md) — API and seats on a model. Tokens are the COGS.
- [How does Google print?](https://trustband.app/print/google.md) — Ads are still the book. Cloud is the growth line. YouTube and subscriptions sit under ads.
- [How does Google Cloud print?](https://trustband.app/print/google-cloud.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Varonis print?](https://trustband.app/print/varonis.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Oscilar print?](https://trustband.app/print/oscilar.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Stripe print?](https://trustband.app/print/stripe.md) — A take-rate on payment volume. Billing, Treasury, and Issuing sit on the same pipe.
- [How does OpenAI print?](https://trustband.app/print/openai.md) — API usage first. ChatGPT subscriptions second. Enterprise seats on top of both.
- [How does Anthropic print?](https://trustband.app/print/anthropic.md) — Mostly API. Claude seats sit on top. Less consumer habit than OpenAI.
- [How does Datadog print?](https://trustband.app/print/datadog.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Cloudflare print?](https://trustband.app/print/cloudflare.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Figma print?](https://trustband.app/print/figma.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Notion print?](https://trustband.app/print/notion.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Rippling print?](https://trustband.app/print/rippling.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Ramp print?](https://trustband.app/print/ramp.md) — A take-rate or a net-interest line. Software on the same pipe.
- [How does HubSpot print?](https://trustband.app/print/hubspot.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Salesforce print?](https://trustband.app/print/salesforce.md) — Recurring subscriptions on the CRM. Services around the seat.
- [How does Palantir print?](https://trustband.app/print/palantir.md) — Government platforms first. Commercial AIP growing. Bootcamps sell the next seat.
- [How does NVIDIA print?](https://trustband.app/print/nvidia.md) — Data-center GPUs. Gaming is the old book. Auto and OEM are the rest.
- [How does Meta print?](https://trustband.app/print/meta.md) — Almost all ads. Reality Labs spends. The apps collect the attention.
- [How does Microsoft print?](https://trustband.app/print/microsoft.md) — Azure and Office. GitHub and OpenAI sit inside the cloud story.
- [How does Amazon print?](https://trustband.app/print/amazon.md) — Stores are the sales. AWS is the profit. Ads are the quiet third engine.
- [How does Apple print?](https://trustband.app/print/apple.md) — iPhone first. Services second and compounding. Hardware around the phone.
- [How does Cursor print?](https://trustband.app/print/cursor.md) — Seats on the editor. Usage on the models underneath. Teams on top.
- [How does Vercel print?](https://trustband.app/print/vercel.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Coinbase print?](https://trustband.app/print/coinbase.md) — Trading fees when volume is hot. Subscription and services when it is not. Interest on the float.
- [How does Uber print?](https://trustband.app/print/uber.md) — A take-rate on mobility and delivery. Ads and membership attach.
- [How does Airbnb print?](https://trustband.app/print/airbnb.md) — Host and guest fees on nights booked. Experiences are small.
- [How does Shopify print?](https://trustband.app/print/shopify.md) — Subscription on the store. Then a take-rate on GMV. Plus merchant solutions.
- [How does CrowdStrike print?](https://trustband.app/print/crowdstrike.md) — Recurring seats, then services. The AE sells the cloud.
- [How does MongoDB print?](https://trustband.app/print/mongodb.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Atlassian print?](https://trustband.app/print/atlassian.md) — Recurring seats, then services. The AE sells the cloud.
- [How does LinkedIn print?](https://trustband.app/print/linkedin.md) — Talent solutions. Then ads. Then Premium. Microsoft owns the book.
- [How does GitHub print?](https://trustband.app/print/github.md) — Recurring seats, then services. The AE sells the cloud.
- [How does GitLab print?](https://trustband.app/print/gitlab.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Brex print?](https://trustband.app/print/brex.md) — A take-rate or a net-interest line. Software on the same pipe.
- [How does Linear print?](https://trustband.app/print/linear.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Canva print?](https://trustband.app/print/canva.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Adobe print?](https://trustband.app/print/adobe.md) — Creative Cloud seats. Document Cloud. Experience Cloud on the side.
- [How does Anduril print?](https://trustband.app/print/anduril.md) — Defense contracts. Hardware plus Lattice. The buyer is a government.
- [How does Scale AI print?](https://trustband.app/print/scale-ai.md) — API and seats on a model. Tokens are the COGS.
- [How does Perplexity print?](https://trustband.app/print/perplexity.md) — Pro seats and API. Ads are the open question.
- [How does xAI print?](https://trustband.app/print/xai.md) — Grok and the API, with distribution through X. Compute is the constraint.
- [How does Figure print?](https://trustband.app/print/figure.md) — Mostly not yet. Pilots and the next raise. The product is the humanoid.
- [How does Boston Dynamics print?](https://trustband.app/print/boston-dynamics.md) — Hardware and programs. Recurring software if they get there.
- [How does Physical Intelligence print?](https://trustband.app/print/physical-intelligence.md) — Hardware and programs. Recurring software if they get there.
- [How does Agility Robotics print?](https://trustband.app/print/agility.md) — Hardware and programs. Recurring software if they get there.
- [How does Apptronik print?](https://trustband.app/print/apptronik.md) — Hardware and programs. Recurring software if they get there.
- [How does 1X print?](https://trustband.app/print/onex.md) — Hardware and programs. Recurring software if they get there.
- [How does Skild AI print?](https://trustband.app/print/skild.md) — Hardware and programs. Recurring software if they get there.
- [How does Zipline print?](https://trustband.app/print/zipline.md) — Hardware and programs. Recurring software if they get there.
- [How does Nuro print?](https://trustband.app/print/nuro.md) — Hardware and programs. Recurring software if they get there.
- [How does Waymo print?](https://trustband.app/print/waymo.md) — Robotaxi rides, still small against Alphabet. The product is the mile without a driver.
- [How does Tesla print?](https://trustband.app/print/tesla.md) — Cars first. Energy growing. FSD and robotaxis are the option.
- [How does Intuitive print?](https://trustband.app/print/intuitive.md) — Hardware and programs. Recurring software if they get there.
- [How does Symbotic print?](https://trustband.app/print/symbotic.md) — Hardware and programs. Recurring software if they get there.
- [How does Skydio print?](https://trustband.app/print/skydio.md) — Hardware and programs. Recurring software if they get there.
- [How does Shield AI print?](https://trustband.app/print/shield-ai.md) — Hardware and programs. Recurring software if they get there.
- [How does Hadrian print?](https://trustband.app/print/hadrian.md) — Hardware and programs. Recurring software if they get there.
- [How does Path Robotics print?](https://trustband.app/print/path-robotics.md) — Hardware and programs. Recurring software if they get there.
- [How does Standard Bots print?](https://trustband.app/print/standard-bots.md) — Recurring seats, then services. The AE sells the cloud.
- [How does iRobot print?](https://trustband.app/print/irobot.md) — Hardware and programs. Recurring software if they get there.
- [How does Locus Robotics print?](https://trustband.app/print/locus-robotics.md) — Hardware and programs. Recurring software if they get there.
- [How does FANUC America print?](https://trustband.app/print/fanuc-america.md) — Hardware and programs. Recurring software if they get there.
- [How does Relativity Space print?](https://trustband.app/print/relativity.md) — Hardware and programs. Recurring software if they get there.
- [How does Equinix print?](https://trustband.app/print/equinix.md) — Colocation rent. Interconnection on top. Recurring, contractual.
- [How does Digital Realty print?](https://trustband.app/print/digital-realty.md) — Space, power, and hours on the rack.
- [How does CoreWeave print?](https://trustband.app/print/coreweave.md) — GPU hours. Reserved clusters. The customer is a lab or a cloud that ran out.
- [How does Crusoe print?](https://trustband.app/print/crusoe.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Lambda print?](https://trustband.app/print/lambda.md) — Space, power, and hours on the rack.
- [How does Vantage print?](https://trustband.app/print/vantage.md) — Space, power, and hours on the rack.
- [How does QTS print?](https://trustband.app/print/qts.md) — Space, power, and hours on the rack.
- [How does Vertiv print?](https://trustband.app/print/vertiv.md) — Space, power, and hours on the rack.
- [How does Oracle print?](https://trustband.app/print/oracle.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Kraken print?](https://trustband.app/print/kraken.md) — Fees on flow. Services when the tape is quiet.
- [How does Circle print?](https://trustband.app/print/circle.md) — Fees on flow. Services when the tape is quiet.
- [How does Ripple print?](https://trustband.app/print/ripple.md) — Fees on flow. Services when the tape is quiet.
- [How does Chainalysis print?](https://trustband.app/print/chainalysis.md) — Fees on flow. Services when the tape is quiet.
- [How does Consensys print?](https://trustband.app/print/consensys.md) — Fees on flow. Services when the tape is quiet.
- [How does SpaceX print?](https://trustband.app/print/spacex.md) — Starlink is the volume line. Launch is the original book. Starship is the bet.
- [How does Blue Origin print?](https://trustband.app/print/blue-origin.md) — Programs and contracts. Hardware you can point at.
- [How does Rocket Lab print?](https://trustband.app/print/rocket-lab.md) — Programs and contracts. Hardware you can point at.
- [How does Applied Intuition print?](https://trustband.app/print/applied-intuition.md) — Hardware and programs. Recurring software if they get there.
- [How does Netflix print?](https://trustband.app/print/netflix.md) — Subscriptions. Ads are a newer, smaller line. Content is the cost.
- [How does Spotify print?](https://trustband.app/print/spotify.md) — Premium subscriptions, then ads on the free tier. Labels take most of it.
- [How does Snap print?](https://trustband.app/print/snap.md) — Attention, then a subscription if they can attach one.
- [How does Pinterest print?](https://trustband.app/print/pinterest.md) — Attention, then a subscription if they can attach one.
- [How does Roblox print?](https://trustband.app/print/roblox.md) — Attention, then a subscription if they can attach one.
- [How does Discord print?](https://trustband.app/print/discord.md) — Attention, then a subscription if they can attach one.
- [How does DoorDash print?](https://trustband.app/print/doordash.md) — A take-rate on the transaction.
- [How does Lyft print?](https://trustband.app/print/lyft.md) — A take-rate on the transaction.
- [How does Robinhood print?](https://trustband.app/print/robinhood.md) — A take-rate or a net-interest line. Software on the same pipe.
- [How does Block print?](https://trustband.app/print/block.md) — A take-rate or a net-interest line. Software on the same pipe.
- [How does Intuit print?](https://trustband.app/print/intuit.md) — A take-rate or a net-interest line. Software on the same pipe.
- [How does Workday print?](https://trustband.app/print/workday.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Okta print?](https://trustband.app/print/okta.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Zscaler print?](https://trustband.app/print/zscaler.md) — Recurring seats, then services. The AE sells the cloud.
- [How does Rivian print?](https://trustband.app/print/rivian.md) — Hardware and programs. Recurring software if they get there.
- [How does AMD print?](https://trustband.app/print/amd.md) — Chips into a market. Data center if they are lucky.
- [How does Jane Street print?](https://trustband.app/print/jane-street.md) — Trading P&L. There is no SaaS attach. The desk is the product.
- [How does Citadel print?](https://trustband.app/print/citadel.md) — Multi-strat trading P&L. Fees on outside capital. The pod is the unit.
- [How does Two Sigma print?](https://trustband.app/print/two-sigma.md) — Trading P&L. The desk is the product.
- [How does D. E. Shaw print?](https://trustband.app/print/de-shaw.md) — Trading P&L. The desk is the product.
- [How does Millennium print?](https://trustband.app/print/millennium.md) — Trading P&L. The desk is the product.
- [How does Point72 print?](https://trustband.app/print/point72.md) — Trading P&L. The desk is the product.
- [How does Hudson River Trading print?](https://trustband.app/print/hudson-river.md) — Trading P&L. The desk is the product.
- [How does Renaissance print?](https://trustband.app/print/renaissance.md) — Trading P&L. The desk is the product.
- [How does Jump print?](https://trustband.app/print/jump-trading.md) — HFT and principal trading. Crypto and traditional. Speed is the product.
- [How does DRW print?](https://trustband.app/print/drw.md) — Trading P&L. The desk is the product.
- [How does Akuna Capital print?](https://trustband.app/print/akuna.md) — Trading P&L. The desk is the product.
- [How does Optiver print?](https://trustband.app/print/optiver.md) — Trading P&L. The desk is the product.
- [How does IMC print?](https://trustband.app/print/imc.md) — Trading P&L. The desk is the product.
- [How does Moderna print?](https://trustband.app/print/moderna.md) — Product sales on approved shots. Collaboration on the pipeline.
- [How does Vertex print?](https://trustband.app/print/vertex.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Regeneron print?](https://trustband.app/print/regeneron.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Gilead print?](https://trustband.app/print/gilead.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Genentech print?](https://trustband.app/print/genentech.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Tempus print?](https://trustband.app/print/tempus.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Recursion print?](https://trustband.app/print/recursion.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Benchling print?](https://trustband.app/print/benchling.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Isomorphic Labs print?](https://trustband.app/print/isomorphic-labs.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Xaira print?](https://trustband.app/print/xaira.md) — Product sales if approved. Collaboration on the pipeline.
- [How does Cognition print?](https://trustband.app/print/cognition.md) — API and seats on a model. Tokens are the COGS.
- [How does Glean print?](https://trustband.app/print/glean.md) — API and seats on a model. Tokens are the COGS.
- [How does Thinking Machines print?](https://trustband.app/print/thinking-machines.md) — API and seats on a model. Tokens are the COGS.