1Password launches secure agentic autofill with Browserbase so AI agents can access credentials without exposing them

clear in just a few months. I'm excited to see it. Uh anyway, we've been keeping our next guest waiting. We have Alexander in the reream waiting room. We will bring him in or maybe we have someone else in the reream waiting room. Um we were running over time. We will coordinate with the team to bring in our next guest.

Sorry for keeping you waiting. How are you doing? No worries. No worries. I was enjoying the uh description of of Jensen's retort there. So that was cool. Yeah. I mean uh first introduce yourself the company. We'll get to the news, but would love your reaction to some of this stuff. Yeah. Yeah.

Uh so David Fogno, I'm the uh chief executive officer at a company called One Password. Yep. And uh thrilled to be here with you guys. Thank you. I'm I'm a I'm a power user. Uh one password has truly uh changed my life, my family's life. I I love the product.

Uh hilariously, I I got like browbeat into using it when I took some sort of funny online course on productivity and it had a whole bunch of things about how to work and manage your life, but one password was like the thing that the influencer was advocating for most harsh mo most directly.

and I was like, "Okay, I finally got to do it. I did it and it's been amazing. " Uh, so congrats on all the progress. Uh, give me an update on the on the partnership on the news today. Yeah. So, uh, so first of all, thank you for for your trust and for using your product.

Uh, we hear that so much, uh, from folks about how we've changed their their lives, their grandparents, their kids. So, uh, you know, we're in the business of of bringing uh, you know, digital uh, capabilities to people in a way that they can trust and a way that we can make their lives easier.

So uh and today's announcement is is very much about that as well. So today we announced the capability uh in partnership with a company called browserbase uh which we're calling secure agentic autofill.

And so basically if you think about the way that you as a human being interact with with uh the internet and folks like yourselves that have you know strong credential uh uh protection through a password manager like one password. Uh you know that when you share your credentials they're encrypted end to end.

When you use one password you're going to be safe, your data is going to be safe. And it's also super easy to actually go put your kids's social security number in a school form or your wife's TSA number when you're when you're going to book a flight.

It's all the things that make your life easy and and you keep all that stuff secure. Well, when agents, you know, are on the scene now, they've got to um act on on behalf of the human being that they serve, right? And ultimately, they have to be accountable to the human being.

And so a lot of the friction that we're seeing all over the place from from uh agent builders is that there's friction when those agents need to have access to the resources that the human being has. And it's it's largely because agents are they're not deterministic.

They're they don't know exactly what they're going to do when they go out to set out to do the task. And so as a function of that, the old way of authorizing agents to do things or or people to do things uh doesn't work as well.

And so this is a first step in a vision that we've got uh to really build this trust layer for agentic AI in the future and partnering with browserbased to bring this capability together so that when the agent that's running on browserbased infrastructure uh is is out to sort of request access to something.

Uh it's very seamless way to build a build that agent into your one password vault so that the the agent can come back ask for the credential and very seamlessly the user can authorize that in a way where that's uh end toend encryption is entitled is is preserved and uh you know the user knows that their credentials are not living in an LLM somewhere out out there in the world.

And so we're super excited about it. It's really a first step of ours on a vision that we've got to again bring trust back to to you know the AI era.

What uh I I was Paul texted me about this launch and I was super excited because I actually invested in a company a couple years ago that pitch was effectively one password for AI agents.

The problem with that is that there was just is a it was it was probably the right idea, but uh very difficult for an early stage company to do because there just wasn't a lot, you know, back then there was not a lot of highquality agents. And so you had this idea that everybody kind of knew was coming.

Also, in the back of my head, I was like, I'm a one password power user. I don't think uh they're going to be asleep at the wheel on this. So the question I had was like, you know, what if one password uh does this? And of course, of course, here you are today. But uh I feel like this is such a key unlock.

It's something that even when I've been, you know, worked with personal assistants in my life, I would use one password in order to delegate passwords out. And so it's very natural that digital assistants would have a very, you know, similar obviously more API uh le experience, but uh why browserbased?

I mean, we love Paul. We've had him on the show multiple times, but it does feel like AWS is coming after this. Google just announced a a a computer use agent. Uh there are other options in the market.

Help me understand uh why browserbas is still winning these deals in the face of hyperscaler competition because that's that's no joke. Yeah.

I mean there's a there's also large number of um uh you know headless browser you know agent platforms beyond just the hyperscalers you know and our view is that we want to be everywhere. So everywhere where you know an agent is being built that needs to have access to stuff to get the job done.

Y we want to be the security inside because we've we've built this integration with browserbase in a sort of platform agnostic way and so we expect to be everywhere. Paul's been a tremendous partner for us.

He's built a product that people also love uh love to build on and so it was a natural collaboration to make sure we were getting it right and can bring it out to the world. But again, we we've built it to be sort of the the secure vault inside of any of the agent interactions, no matter where they live.

And we were super appreciative to Paul for like working with us to to get it right and and get it out into the market. Talk to me about how you're uh grappling with the market chaos, all the news. Uh you're in I feel like an extremely safe place where you have this amazing chart our LTB.

Are you just assuming that we we we potentially never AI is not a threat to you. It's a just a pure opportunity. Uh you can you can roll it out very carefully. You don't need to, you know, deal with oh early stage hallucinations. I got to move first. You don't have to move fast and break things.

Um but is there anything about the froth in the market that's that's changing how you're thinking about your business or how are you processing the market right now just this time in tech? Yeah. Yeah. Well, first I'll talk about it like from our perspective and then sort of more broadly.

You know, I think I think we need to move with urgency because our customers need us there. Sure. Right. People want to use these technologies to for the promise that they have. If they can't do it securely, uh, you know, then then we're not serving them.

We we have to bring the trust that they've come to depend on us for to the places where they they want to be.

I can't tell you how many uh founders in and around the AI uh ecosystem that we talk to that say that you know number one they say I love one password just like like you do but they also say I can't believe how often people are hard coding credentials into into into stuff and just not having any visibility to very important secrets like it's happening everywhere and so if it's happening everywhere then we need to hurry up and make sure we're making it super easy for everyone to not have that happen and by the way those there's going to scalability constraints.

You have these these these bifurcation of like you know super risky environments where people are hard coding credentials and things are going and there's lack of visibility and then you have the other environments where people are acknowledging that that's a risk and they're squashing the utilization the product is you know uh putting in a production these capabilities and so what we want to do is sort of both of those are bad like it's really bad to to have like insecure workflows going crazy that you have no visibility to.

It's also really bad to invest all this money and effort into utilizing this technology and then it sits on the shelf because somebody with a security mindset says you know NFW. So so I think there's urgency from our perspective.

Um the the other part of your question which which is like where uh like where do we sit in this opportunity and where where do we see what do we think about the frothiness?

Look, uh, you there was something interesting that I saw recently, uh, I think it was I think it was Jeff Bezos about, um, comparing this bubble, if you will, to, uh, to some of the other bubbles. And, and I really found it insightful. It's like, yes, there's a lot of bad stuff that'll come out.

You guys were talking about electricity costs. There's all the hallucinations. There's all of the, uh, concerns around privacy and security. All of these concerns are valid, right? And people people have different views and where they are in their in the curve adoption, but it's coming.

And so it's coming and it's and what Bezos's point was is there will be a lot of stupidity and a lot of carnage and a lot of bubble bursting, but there will be some real goodness that comes out of it unlike some of the financial uh bubble for uh if you will, which was really just just all badness.

And so I think you know the winners and the losers will separate that.

I think the kind of, you know, the gold rush that's happening here, like we're not too old to remember the last couple of cycles where people put a lot of money at crazy, you know, valuations and a lot of crazy ideas that didn't work out all that well.

Uh, but some of the some of those things sort of persevered and went through. So, I think we're going to see a lot of the same here.

uh you know at the end of the day uh you have to create experiences for your customers that create value for them and they have to part of that is from our perspective is making it easy for them to use it and making it secure for them to use it and in the other land it's like you creating use cases that add value.

Let's hear it for creating value for customers. You'll love underrated. Thank you for everything you do. Thank you for coming on the show. Yeah. But last in a minute I love I'd love an update just on on the business broadly. you guys uh uh uh I remember you did a round in 2022.

Uh you guys I'm sure just chugging along compounding. Uh again, I just I I feel like you could take We uh we have we've really you know we have a wonderful consumer business. Millions of millions of people depend on us in their personal lives. We've really served businesses.

175,000 corporate companies uh corporate customers that we have. That represents nearly 80% of the business we do. So, we are an identity security solution for the enterprise. Full stop. And we're going further in that.

This AI opportunity really amplifies what we can do for businesses and that'll be a huge part of of our future and our roadmap.

But we're solving an emerging identity security problem for businesses of all sizes including including the large enterprise that the change in application landscape is making us very very well positioned for. So, we're we're on that journey. Uh profitable business, growing well, lots of happy customers.

We just got to keep doing what we do. Congratulations. You deserve every. This was super fun. Come back on anytime. We do this every day. Awesome, guys. Really appreciate it. We'll talk to you soon. Have a good one.