Jay Fulcher
๐ค SpeakerAppearances Over Time
Podcast Appearances
In general, what we really tried to do was we tried to resize kind of the cost of goods and the expense line for the business.
You know, you talked about being out of cash in 2017.
That's clearly not the case at this point.
We have
actually several years of runway to go if we never raised another dime.
And we have, you know, sort of cash flow break even in our sites.
And so we've got we've got a lot of nice momentum now where the company's really repivoted itself in a very healthy way to be a sustainable, long term, high growth business.
Yeah, there's several things, Nathan.
I think number one, as you say, we did in fact kind of right-size the company.
And so as hard as that was, because these are employees that quite frankly did nothing wrong.
They were actually stellar performers.
They did great things for Zenefits.
But we basically had to get to a better headcount perspective.
And part of that was not only in San Francisco, but across the three or four offices we have around the world.
So that was one piece.
The second piece was, as I said before,
basically no longer being a broker and instead relying on third party brokers to basically build their brokerage and advisory services on top of the Zenefits platform.
That allowed me to take a lot of the headcount and a lot of the focus and the organizational calories that are expended around insurance brokerage and instead shift that to these partners.
And it allowed us to retreat and kind of double down on being this tech platform.
I think those two things were substantial kind of resizing elements that allowed us basically to kind of be in a very different place from a cash burn perspective as well as making sure that โ