Zach Perret

BRIAN DORSEY- That's a good question. The true value of a private company is impossible to tell. The true value of a private company is what someone is willing to pay to buy an incremental share of that company. And that's why you see valuations being all over the place with private companies.

BRIAN DORSEY- That's a good question. The true value of a private company is impossible to tell. The true value of a private company is what someone is willing to pay to buy an incremental share of that company. And that's why you see valuations being all over the place with private companies.

In a lot of instances, I wish we had a real-time mark-to-market because that would make it much simpler to do things like compensating employees and doing acquisitions and so on and so forth. The reality is we raised money in the situation and in the environment that we were in at the time. Plus, valuation has gone down since then.

In a lot of instances, I wish we had a real-time mark-to-market because that would make it much simpler to do things like compensating employees and doing acquisitions and so on and so forth. The reality is we raised money in the situation and in the environment that we were in at the time. Plus, valuation has gone down since then.

In a lot of instances, I wish we had a real-time mark-to-market because that would make it much simpler to do things like compensating employees and doing acquisitions and so on and so forth. The reality is we raised money in the situation and in the environment that we were in at the time. Plus, valuation has gone down since then.

Frankly, the valuation of every tech company has gone down since then.

Frankly, the valuation of every tech company has gone down since then.

Frankly, the valuation of every tech company has gone down since then.

Yeah, so there's a fiduciary thing that pushes you towards the raise at max valuation, and then the investors that invest be darned. My view is different. I feel a deep responsibility to the investors that invest in Plaid. I want every one of them to make a lot of money on Plaid.

Yeah, so there's a fiduciary thing that pushes you towards the raise at max valuation, and then the investors that invest be darned. My view is different. I feel a deep responsibility to the investors that invest in Plaid. I want every one of them to make a lot of money on Plaid.

Yeah, so there's a fiduciary thing that pushes you towards the raise at max valuation, and then the investors that invest be darned. My view is different. I feel a deep responsibility to the investors that invest in Plaid. I want every one of them to make a lot of money on Plaid.

And that means that my expectations for the company are really, really high, because I know I have to get back to a high hurdle rate that we've had in the past. Now, I believe that we'll do it. I believe it'll take some time, but I believe that we'll do it. The underlying fundamentals of the business look way better now than they did whenever I invested.

And that means that my expectations for the company are really, really high, because I know I have to get back to a high hurdle rate that we've had in the past. Now, I believe that we'll do it. I believe it'll take some time, but I believe that we'll do it. The underlying fundamentals of the business look way better now than they did whenever I invested.

And that means that my expectations for the company are really, really high, because I know I have to get back to a high hurdle rate that we've had in the past. Now, I believe that we'll do it. I believe it'll take some time, but I believe that we'll do it. The underlying fundamentals of the business look way better now than they did whenever I invested.

But the reality is that the multiples have changed. You know, we're on a long journey. I got work to do. We got to we got to make sure that everyone makes a bunch of money on their investment where they invested. And if we're lucky enough that the investors continue to hold through that entire period, like I really believe they'll be able to do it. But that takes patience.

But the reality is that the multiples have changed. You know, we're on a long journey. I got work to do. We got to we got to make sure that everyone makes a bunch of money on their investment where they invested. And if we're lucky enough that the investors continue to hold through that entire period, like I really believe they'll be able to do it. But that takes patience.

But the reality is that the multiples have changed. You know, we're on a long journey. I got work to do. We got to we got to make sure that everyone makes a bunch of money on their investment where they invested. And if we're lucky enough that the investors continue to hold through that entire period, like I really believe they'll be able to do it. But that takes patience.

I can't comment on Instagram and Facebook. The structure that we set up with Visa was that we were running as an independent entity. We had access to all the tools internally. I was the CEO of the independent company. We could run as fast as we wanted to in the direction that we wanted to. And we got a boatload of funding to go do it. That's not the worst setup.

I can't comment on Instagram and Facebook. The structure that we set up with Visa was that we were running as an independent entity. We had access to all the tools internally. I was the CEO of the independent company. We could run as fast as we wanted to in the direction that we wanted to. And we got a boatload of funding to go do it. That's not the worst setup.

I can't comment on Instagram and Facebook. The structure that we set up with Visa was that we were running as an independent entity. We had access to all the tools internally. I was the CEO of the independent company. We could run as fast as we wanted to in the direction that we wanted to. And we got a boatload of funding to go do it. That's not the worst setup.