Plaid

“So we spend about 80% of our time building towards the business to business side.”

“So we have six people kind of actively in development and a big list of people that we're trying to add to it as we deal with scaling right now, which is all of our time.”

“What we're building now was an evolution because we simply just didn't have the tools to build what we wanted to build. And we talked to a bunch of other developers and found out that they didn't have the tools either.”

“We couldn't predict how, how large FinTech would be, or how fast it would grow. I like to think that Plaid had one percent to do with that growth, because we gave some tools to some people that didn't have tools. But frankly, we got lucky to be in the right pl…”

“So we power about, ah, I think it's 3504 thousand financial products on the other side.”

“Actually most of the biggest banks are our customers.”

“It's about one in four people in the US have linked an account with Plaid.”

“If we mess up security that is, you know, potentially company ending or likely company ending.”

“We actually built, I think, five or six of them.”

“Our longer term thesis is that you should be lending to a consumer in the way that you lend to a business, which is based on free cash flow”

“We see ourselves very much as a data company, and we thought that data science in the early days would be a really key part of our strategy, and it is, but the data engineering challenge is so immensely harder that kind of data science kind of, in terms of tea…”

“Largely when people ask us who are the competitors you worry the most about the answer is actually paper.”

“Developers sales, If you could even call it that. It's completely inbound.”

“American Express was the first bank, if you can call them a bank that we launched”

“So our backend, we've integrated with about 15,000 banks in the US, Canada and soon a bit further.”

“We've actually built a number of software packages now that we're starting to externalize to kind of not just do the basics, but To validate against some of the larger threat factors that we're seeing in the ecosystem. And now some of the banks are actually st…”

“Right now, in financial services, still the best way to connect your bank account to anything is using your username and password.”

“And we had this thesis early on, which did not play out, by the way. We had a thesis that we never needed to hire PMs, because the developers knew how to build an API for themselves. It kind of worked, but it didn't scale.”