Building the Financial Center of Gravity

This episode is brought to you by:

Dell Technologies. Dell Technologies and Windows can help you upgrade your business tech with its Small Business Month specials. Save up to 45% on PCs with Windows 10 Pro—plus business docks, monitors & more. To learn more, call a Dell Technologies Advisor at 877-ASK-DELL or check out the deals at dell.com/en-us/work/shop/deals.

Eight Sleep. Eight Sleep's new Pod Pro Cover is the easiest and fastest way to sleep at your perfect temperature. Simply add the Pod Pro Cover to your current mattress and start sleeping as cool as 55°F or as hot as 110°F. To embrace the future of sleep and get $150 off your new mattress, go to eightsleep.com/patrick or use code "Patrick."

[00:02:53] - [First question] - The state of the B2B financial world before Brex

[00:06:29] - How such a high margin space was generally underserved

[00:08:24] - What the first version of the Brex card looked like

[00:10:48] - How long it took to build and launch their infrastructure

[00:11:13] - Why market penetration is so low for cards in B2B businesses

[00:13:14] - How he thinks about this landscape in Brazil versus the US

[00:14:55] - What interchange and high margins allows him to pass on to the consumer

[00:16:23] - Brex’s first revenue event

[00:17:38] - What the biggest hurdle was when they launched

[00:19:02] - Key marketing strategy early on and what made it successful

[00:21:16] - Continued distribution lessons they learned from their initial success

[00:22:39] - Building an effective sales force to push their product

[00:24:41] - What makes the current landscape so fertile for fintech businesses

[00:27:12] - Analysis of their unique funding round dynamics

[00:28:42] - Their second product and the insight that lead to that decision

[00:31:05] - Darkest moments while trying to build their central account

[00:31:50] - What their central account allows them to facilitate

[00:35:27] - Notable differences between entrepreneurship in Brazil versus the US

[00:38:55] - Observations on inefficiencies in the US startup space

[00:40:16] - Pros, cons, and costs of being largely remote

[00:41:50] - Keys to building a successful hiring pipeline

[00:44:05] - Lessons learned about decision making and optimization

[00:45:39] - Developing an effective skill set to convince other people of anything

[00:47:04] - Jeffrey Gitomer's Sales Bible: The Ultimate Sales Resource

[00:47:35] - What excites him about being a part of Brex lately

[00:49:13] - What excites him about the future in general

[00:50:39] - His business philosophy and the set of principles that guide him 

[00:52:03] - Nuances that make focusing on a single problem so attractive

[00:53:51] - Long term infrastructure decisions that will pay off in the end

[00:55:12] - Thoughts and his perspective on cash flow in general

[00:58:18] - The kindest thing anyone has ever done for him