Bill Clerico is the co-founder and CEO of WePay. He reflects on WePay's initial fundraising struggles during the 2008 financial crisis prior to moving to the West Coast and joining Y Combinator.
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“I think I pitched four DVCs in Boston and, you know, didn't raise a dime.”
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More from Bill Clerico
Insight
Clerico: One bad investor on a cap table can ruin a startup
“One bad apple on your cap table can really spoil or even ruin the company.”
Bill ClericoMay 5, 2017▶ 8:3820VC: Why We Are Still In The Very Early Days For Fintech, Why Your Company Has To Have An Opinionated Culture & Why The CEO Should Not Be The Sole Point Of Contact With The Board with Bill Clerico, Founder & CEO @ WePay
Insight
Clerico: A Startup Pivot Means You Failed as an Entrepreneur
“We in Silicon Valley use this term pivot as this catch-all Friendly term to just say, Hey, we're going to change our business strategy. But what it actually means is that you've failed as an entrepreneur. You know, you've, your strategy, your mission, your obj…”
Bill ClericoMay 5, 2017▶ 13:3520VC: Why We Are Still In The Very Early Days For Fintech, Why Your Company Has To Have An Opinionated Culture & Why The CEO Should Not Be The Sole Point Of Contact With The Board with Bill Clerico, Founder & CEO @ WePay
Insight
Clerico: CFOs are the only role providing unbiased, cross-company evaluation
“And I think the other sort of unspoken benefit of CFOs is that they're really the only other function that can look across the entire company in an unbiased way and help sort of measure performance and help advise the CEO on how to invest the company's resourc…”
Bill ClericoMay 5, 2017▶ 17:5620VC: Why We Are Still In The Very Early Days For Fintech, Why Your Company Has To Have An Opinionated Culture & Why The CEO Should Not Be The Sole Point Of Contact With The Board with Bill Clerico, Founder & CEO @ WePay
AssertionNot checkable as stated
Bill Clerico: Big Banks Remain Unaffected by Fintech Disruption
“The reality is that the big banks have really been unaffected by fintech. You know, fintech has yet to really disrupt major parts of the market, and so I think it's still very, very early days, and it'll be exciting to watch what fintech does over the next 10 …”
Bill ClericoMay 5, 2017▶ 20:3020VC: Why We Are Still In The Very Early Days For Fintech, Why Your Company Has To Have An Opinionated Culture & Why The CEO Should Not Be The Sole Point Of Contact With The Board with Bill Clerico, Founder & CEO @ WePay
Insight
Clerico: Great founders are transparent with investors about challenges
“I think what sets apart great entrepreneurs from not so great entrepreneurs are the ones that can be honest and candid about those challenges and enlist their investors help and keep them in the loop on that.”
Bill ClericoMay 5, 2017▶ 7:4020VC: Why We Are Still In The Very Early Days For Fintech, Why Your Company Has To Have An Opinionated Culture & Why The CEO Should Not Be The Sole Point Of Contact With The Board with Bill Clerico, Founder & CEO @ WePay
Insight
Clerico: Culture is the set of norms guiding unmonitored employee behavior
“What culture is, is it's the set of, kind of, norms and guidelines that guide people's behavior when no one's telling them what to do, and I think that, As a tool is incredibly powerful. You know, if as a leader, you can set a set of guidelines and values and …”
Bill ClericoMay 5, 2017▶ 9:1120VC: Why We Are Still In The Very Early Days For Fintech, Why Your Company Has To Have An Opinionated Culture & Why The CEO Should Not Be The Sole Point Of Contact With The Board with Bill Clerico, Founder & CEO @ WePay
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