Streamlining Accounting and Banking for Professionals

In this episode, CJ sits down with Marc Greenberg, former VP of Finance & Strategy at Pixar and current CFO at Altruist, for a fascinating conversation about his career in finance. Marc sheds light on the complex budgeting process at Pixar and the long lead times, challenges, and seasonality of the movie industry. He explains how decisions are made about sequels and other financial considerations involved. The conversation also covers the acquisition of Pixar by Disney in 2006 and his firsthand experience with Steve Jobs. Marc then discusses his current role at Altruist, a modern vertically integrated custodian built exclusively for RIAs. He touches on key metrics like lifetime value and customer acquisition costs. He also talks about the evolving role of CFOs, the impact of AI on financial operations, and the lessons learned from taking a company public. Marc offers valuable advice on hiring, feedback, and the value of storytelling in the CFO role, before sharing some of the the craziest expense stories we’ve ever heard on the show.

If you're looking for an ERP head to NetSuite: https://netsuite.com/metrics and get a customized KPI checklist.

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SPONSORS:

NetSuite provides financial software for all your business needs. More than 40,000 companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅, head to NetSuite https://netsuite.com/metrics and get the CFO’s Guide to AI and Machine Learning. 

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Leapfin is accounting automation software that automatically prepares and posts reliable journal entries. High-growth businesses like Reddit, Canva, and Seat Geek choose Leapfin to eliminate manual tasks, accelerate month-end close, and enable accounting leaders to provide faster insights to help their companies grow. To automatically standardize your revenue data with measurable business impact, check out leapfin.com today. 

Mercury is the fintech ambitious companies use for banking and all their financial workflows. With a powerful bank account at the center of their operations, companies can make better financial decisions and ensure that every dollar spent aligns with company priorities. That's why over 100K startups choose Mercury to confidently run all their financial operations with the precision, control, and focus they need to operate at their best. Learn more at mercury.com.

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(02:28) Sponsor – NetSuite | Maxio

(05:02) Learning the Art of Storytelling at Pixar

(08:57) The Most Successful Movies from Marc’s Time at Pixar

(10:57) Budgeting for Movies with Long Lead Times

(14:27) The Seasonality of the Film Industry

(17:44) Sponsor – Leapfin | Mercury

(19:41) Merchandise as a Revenue Stream

(22:10) Disney’s Acquisition of Pixar and Lucasfilm

(24:46) Meeting Steve Jobs

(25:26) What Altruist Does

(29:15) Altruist’s Customers and LTV

(33:20) How Strong Retention Relates to CAC

(37:51) Marketing to the Consumer Versus the Advisor

(40:23) AI and the Changing Role of the CFO

(43:15) Learnings from Taking Blend Public

(47:47) Advice to First-Time CFOs

(48:36) Qualities That Make a Great CFO

(49:29) Feedback, Patience, and Relationships in the Long-Ass Lightning Round

(52:43) Finance Software Stack

(53:22) Craziest Expense Story