Payroll

“I think it was six and a half years before I started a month with enough money in the bank to make payroll.”

“I don't think so. I mean, I think that a lot of it is dependent. It's calibrated to your part of the market. So product velocity plus business velocity. I do think that you have to be top quartile compared to your peer set, right? I think there are some market…”

“I'd say last thing in boring software is the best software. So anything like you have to have, like, so first thing you do when you start a business, like accounting, payroll, tax, like banking, anything like that, that every business has to have, or incorpora…”

“You don't really want to compete with Gusto because Gusto is still a modern, really good payroll system. There's not like a lot of vectors into competing with Gusto.”

“There's about eighty billion of payroll in the industry.”

“Like, about 40% of companies were doing it manually and getting fined every year because you have local, state, federal.”

“40% of companies in the U.S. Were making mistakes and getting penalized every year.”

“A lot of people have said, you know, why don't you go offer payroll? Because if you have the payroll yourself, then it would be a lot easier. You could be the one-stop shop. I said, I, you know, I can see how that would be beneficial to our margins and our NRR…”

“We chose payroll to start because it is the de facto system of record for employee data, and it's the least optional part of the stack. Another way to think of it is, like, if you don't pay someone, they quit, and so it is the medicine, not the vitamin”

“We don't actually want you to buy payroll on day one. Like we will actively discourage you. We incentivize our sales reps to keep the deal sizes lower at the time it closes because the chance of success is that much higher. And we know that, hey, once they are…”

“There are like, even horizons within a product. So you look at something like payroll, for example, our payroll product is our, is the backbone of gusto. There's a lot of things we're going to do that adds into what we already have. That is high rate of succes…”

“I was like, hey, we gotta build, like, this platform for payroll. It's like, you know, the last giant money movement thing that hasn't really come with the needle in a long time.”

“80% of costs in any tech company. It's payroll. It's humans.”

“Many new founders today only know the funding environment like this. It's almost like being a spoiled rich kid born into a rich family. Sometimes it can really help to go through the struggle of struggling to actually you know, make your payroll, et cetera. I …”

“Payroll is a debt product. With bi-monthly coupons, equity is a capital product, and in any economy, whether it's GDP for the nation or the Silicon Valley economy, any economy that's growing, by definition, equity accumulates exponentially, but debt accumulate…”

“We give away our invoicing and accounting software, 100% for free. And then we monetize by putting payments, payroll lending offers, et cetera, in the application and get those deeply embedded into what the small business owners are doing.”

“And I think we're today processing seven billion dollars of payroll when people hand you one of their, yes.”

“So often it's been easier for an entrepreneur to buy a new flashy car than it's been for them to meet payroll, which is a tragedy of us not having as many lending institutions as In our community as we need and want.”