how we could use data on people's behalf to help them spend less and save more money
From that, we learned that the inputs and outputs are very nonlinear—that there are some things that are just dramatically more effective in your business
For us, a lot of the team is pretty young, but we try to find people with super steep slope and spiky personalities and prioritize that over intercept
Often people have real gaps and that's okay. As a founder, you can construct the right team to work around people's gaps and make sure that their skills are complemented
When we started Ramp, that experience made us really think about how we could help people
In that way, it felt that the incentives of credit card companies and people were very misaligned—that each was trying to make the other worse off.
Whereas with all the innovations in fintech, I think we were approved by Visa on day 50 of Ramp’s existence
We actually onboarded our first customer in August 2019. And so we had customers and were working through to understand the experience, even prior to launching publicly
points are marginal. They don't change the long-term outcomes of companies. But helping companies be financially more efficient was much more important.
We did this by issuing as many cards as a business wants, being simple and unambiguous, and offering 1.5 percent cashback on anything—no games that we're trying to play or strange incentives that we're trying to introduce to our customers.
lock a merchant on a particular card
different SaaS products charging the company across tons of people in the organization
It wasn't just an admin and a cardholder and a bookkeeper. But you can have people reporting to other people
We were also the first in the industry to propose a manager role.
We've generally tried to be a lot leaner and are big believers that small teams that are well-organized and have clearly-defined goals can outperform large teams
We look for people who care deeply about that mission and believe that those who take ownership don't want to let other folks down.
You see other folks working hard and you want to be there for customers and for others
Most products, I think, are very “blah,” especially in finance—and they’re not really that helpful
I really do love the money and time saving stuff.
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