The Ledger, every show

“The burn that's being reported by the media is not the real burn. Our burn was much lower. It was significantly lower. We've never done ten million dollars a month of burn before, right?”

“Having Stripe as an investor isn't what killed our company. Having too high a burn is what killed our company. There's just no other way to put it.”

“The government didn't want to pay for about seventeen million dollars worth of tows and impounds that we did for them.”

“I have never once witnessed a mob attack by Stripe or any sort of organized criminality of any type, I'll tell you.”

“And what happened was that revenue from the last couple of years wasn't for one click checkout. It was for their sort of old fraud checkout form thing, right? And, but they were able to raise a lot of money last year, now selling one click checkout, save one c…”

“The vast majority of our burn came directly from people. Like, well over 80% of our cost space was just wages, health care benefits, over 80%.”

“In January, we onboarded our first Billion dollar merchant. There were 50 X the size of our second biggest merchant. Twice the size of Bolt's biggest live customer, right? More than twice the size.”

“We had won, we had eight billion dollars of enterprise merchants in signed deals that we were onboarding.”

“I think our insiders just really wanted to see external investors come in and lead that process, and them to participate, but other people lead.”

“In the end, our largest customer, the state government, actually owed us and refused to pay seventeen million dollars. We were locked into a sort of bitter legal dispute, and in the end ran out of cash.”

“We know that Amazon is so conflicted with merchants that merchants don't want to be incorporating Amazon into their own environments.”

“We really aren't embracing failure anymore, right, in anywhere to the same degree that we were.”

“In the end, when it just was clear that cost pace wouldn't work, like I said, we firm aqua hired the company. We picked a company that would take on a huge amount of our team. Hundreds of people. It's not often you have a team so good that Another company will…”

“I think that they still are yet to kind of prove out their product market fit.”

“If you've used PayPal, you know, in the last few years, you know that it doesn't feel like an experience that was made in the last few years. It feels like older technology.”

“I find managing engineers remotely or in person is actually quite similar. You know, a lot of engineers that I've managed in person that, you know, prefer to chat over Slack and stuff like that too. So it's neither here nor there, whether they're physically si…”

“Over the last two quarters of 21, we basically doubled our burn.”

“Years ago, I stopped reading, reading the articles. The good or the bad. Doesn't matter. I don't want to see it. I don't care how nice they're being. If they're glorifying us, I don't read it. Same thing for the nasty ones.”

“From a product standpoint, I've had probably 50 companies aggressively reaching out to me, wanting to buy the product, wanting to buy the IP, wanting to build it again, me to come and launch a new division to build the same thing under their company.”

“I would absolutely keep burn a lot lower is a significantly lower exponentially lower.”

“I've had lots of existing investors who said that they would back me again. Other investors would love to back the next thing.”

“Passwords aren't the problem. They're a symptom. The issue that we have is that we don't scale customers between businesses, and that doesn't make sense. It does make sense that businesses don't share customer databases. That would be weird, but it doesn't mak…”

“Consumers have spent the last 10 years optimizing for discovery. We've put a lot of money into advertising, you know, Google and the Facebook business models and Instagram and getting people to click and go Go visit a site and look at a product, but there hasn…”

“The problem that we've had over the last 10 years is that everyone's been building their own authentication and their own payment forms and their own registration forms, and they're doing it first party, which is a terrible experience for consumers, right? Rep…”

“You know, the top 10 companies are worth far more than our entire stock exchange in Australia, and it's because there's this concentration of capital and expertise that just doesn't exist anywhere else in the world, and the expertise is so incredibly important…”

“It's not to say that you can't have teams outside of San Francisco, and you can't have people outside of San Francisco, but there's, if you want to build a tech company, you know, there's not a place in the world that has engineers that That have worked at com…”

“We've got Atlassian, which is undisputedly a great company, but most of the stock is still held by the founders.”

“I think we've got now 10 people in our remote team from Nigeria, so eight from Lagos and two from Port Harcourt, and it's an absolutely incredible market.”