Run the Numbers

E1: Brex COO/CFO Michael Tannenbaum on Taking Risks

4 snips
Jan 3, 2024
Michael Tannenbaum, COO/CFO of Brex, shares his journey through the high-stakes world of fintech. He discusses the importance of embracing personal and career risks, highlighting 'risk capital' learned from failures. The conversation dives into the nuances of liquidity and regulatory challenges in fintech versus traditional SaaS models. Tannenbaum also explores the impact of mergers on company culture and talent acquisition. He reflects on the unique dynamics of co-CEO structures and shares humorous insights about quirky corporate expenses.
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INSIGHT

Longevity as CFO

  • Michael Tannenbaum's longevity as Brex's CFO stems from his adaptability and anticipation of future needs.
  • He emphasizes evolving with the company's changes and staying ahead of the curve for sustained success.
INSIGHT

Hierarchy of Startup Needs

  • Tannenbaum likens startup needs to Maslow's hierarchy, with cash as the foundation.
  • He highlights the CFO's challenge in balancing protection with growth, especially in early stages.
ANECDOTE

Brex and SoFi Funding Stages

  • Brex achieved stage two, a durable core business, during its Series B funding round, even before launching.
  • SoFi's $1 billion SoftBank funding shifted Tannenbaum's focus from daily cash concerns to other company problems.
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