A Product Market Fit Show | Startup Podcast for Founders He thought his startup would fail—then grew to $100M ARR. | Rick Song, Co-founder of Persona
Aug 11, 2025
Rick Song, co-founder of Persona, transformed a casual project into a $100M ARR unicorn—all while believing it might fail. He shares how his low expectations fueled success and why early-stage startups should avoid hyper-optimization. Rick discusses unconventional fundraising tactics, raising $2.4M without trying, and the essential mindset for overcoming challenges. His insights into identity verification technology and the importance of resilient partnerships provide a fresh perspective for any founder navigating the startup journey.
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Build A Processor, Not Another Credential
- Build a universal identity processor first instead of creating a new credential everyone must adopt.
- Rick Song compares identity infrastructure to Visa/Mastercard and calls for a backbone that all businesses can speak.
Automate IDs To Improve UX And Access
- Automating government ID checks dramatically improves user experience and access.
- Rick Song notes automation cut review times from hours or days to seconds for Persona's earliest flows.
Expect Failure To Reduce Pressure
- Treat the startup as an exploration by assuming it may fail and remove catastrophic pressure.
- Rick Song says low expectations freed the team to learn quickly and iterate without self-destructive stress.