The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Plaid's Zach Perret on Why You Have To Hire For Spikes and What That Really Means, Fintech Predictions From Incumbent Entrants To The Rise of Europe & The 2 Big Questions That CEOs Should Ask Themselves
4 snips
Jun 7, 2019 
Zach Perret, Founder and CEO of Plaid, shares his journey from Bain consultant to fintech innovator, highlighting the mission to simplify consumer finance. He discusses vital leadership lessons and how to prioritize effectively as a CEO. Zach emphasizes the importance of hiring for unique skills, or 'spikes,' to build a strong team. He also offers insights on the evolving fintech landscape, especially the growth of consumer fintech in Europe and its implications for the U.S., alongside the critical nature of building investor relationships.
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Plaid's Pivot
- Zach Perret and his co-founder initially focused on building consumer financial products.
- They pivoted to creating Plaid's infrastructure after realizing the difficulty of connecting bank accounts to apps.
Career Advice for Grads
- Join a mid-to-late-stage company (100-1000 people) for broad work scope and growth opportunities.
- Zach Perret emphasizes the value of operational experience over purely analytical roles.
Evolving CEO Role
- Zach Perret's role as CEO constantly evolves, requiring adaptation every 6-12 months.
- He prioritizes delegating tactical decisions and empowering his team with the right frameworks.
