HD in HD Why Jack Zhang Is Betting Against SWIFT and Stripe
12 snips
May 12, 2025 
Jack Zhang, Co-founder and CEO of Airwallex, journeyed from a small town in China to building a billion-dollar tech story in Australia. He discusses how Airwallex differentiated itself from Stripe in the APAC market and reflects on a costly mistake that almost derailed their first client. Jack shares insights on navigating the 2022 valuation reset without panic, and highlights an overlooked AI opportunity in fintech. With Airwallex hitting $1B in volume before a proper Series A, his story is one of resilience and innovation in the global payments landscape.
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Moving Alone to Australia
- Jack Zhang moved alone from a small Chinese city to Australia at 15 with no English skills.
- He lived with a host family and struggled culturally but adapted over time, learning by immersion rather than formal schooling.
Teenage Student Magazine Success
- At 13, Jack started a student magazine business that made over $100,000 profit, which he later donated to his school.
- He did not grasp the value of the money then and only treated it as a project, not a business.
Struggling Financially in College
- After losing parental financial support, Jack worked multiple low-paying jobs like washing dishes and working in a lemon factory.
- He struggled to pay tuition and living expenses, working 15-16 hour days through college to survive.