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Zach Perret

👤 Person
462 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

And the same thing you can do over email, you do it over the phone, you get introductions. But it's the same process of like, hey, I'm genuinely interested in you. And I have an opportunity that you might be interested in. Can we have a conversation?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

This is related to recruiting, but sort of not. Earlier on in the company, I had a five sentence rule, which is if you write an email with more than five sentences, no one's ever going to read it. So write them with less than five sentences.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

This is related to recruiting, but sort of not. Earlier on in the company, I had a five sentence rule, which is if you write an email with more than five sentences, no one's ever going to read it. So write them with less than five sentences.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

This is related to recruiting, but sort of not. Earlier on in the company, I had a five sentence rule, which is if you write an email with more than five sentences, no one's ever going to read it. So write them with less than five sentences.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

So we have a couple of these core philosophies, and one or two of them have evolved. One of them is hire for spikes. This one hasn't really changed. We look for people that are incredible at some things, even if they have glaring weaknesses in other areas. So long as we have a team that can balance that out, we would rather have the spiky person.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

So we have a couple of these core philosophies, and one or two of them have evolved. One of them is hire for spikes. This one hasn't really changed. We look for people that are incredible at some things, even if they have glaring weaknesses in other areas. So long as we have a team that can balance that out, we would rather have the spiky person.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

So we have a couple of these core philosophies, and one or two of them have evolved. One of them is hire for spikes. This one hasn't really changed. We look for people that are incredible at some things, even if they have glaring weaknesses in other areas. So long as we have a team that can balance that out, we would rather have the spiky person.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

Because it turns out, a well-rounded person that maybe doesn't have any really tall spikes, if you build a team of those, you'll have one certain, you can imagine a level, if you were to chart this out, you can imagine there only reach a certain max on the vertical axis.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

Because it turns out, a well-rounded person that maybe doesn't have any really tall spikes, if you build a team of those, you'll have one certain, you can imagine a level, if you were to chart this out, you can imagine there only reach a certain max on the vertical axis.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

Because it turns out, a well-rounded person that maybe doesn't have any really tall spikes, if you build a team of those, you'll have one certain, you can imagine a level, if you were to chart this out, you can imagine there only reach a certain max on the vertical axis.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

But if you have spikes and you make the spikes all work together, then the level of the reach on the vertical axis is far higher. So higher for spikes is a big one for us. It also means that we like people that are weird, that have unique experiences, that are different, that have a different background or a different way of thinking about the world. So that's been a big one for us.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

But if you have spikes and you make the spikes all work together, then the level of the reach on the vertical axis is far higher. So higher for spikes is a big one for us. It also means that we like people that are weird, that have unique experiences, that are different, that have a different background or a different way of thinking about the world. So that's been a big one for us.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

But if you have spikes and you make the spikes all work together, then the level of the reach on the vertical axis is far higher. So higher for spikes is a big one for us. It also means that we like people that are weird, that have unique experiences, that are different, that have a different background or a different way of thinking about the world. So that's been a big one for us.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

One that I've changed was there's this thing internally called the experience trap, where we basically thought that anyone that had been doing a certain thing for more than 15 or 20 years kind of wasn't a fit for Plaid. We just had this bad assumption that people that had been doing a thing for that long weren't going to hustle.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

One that I've changed was there's this thing internally called the experience trap, where we basically thought that anyone that had been doing a certain thing for more than 15 or 20 years kind of wasn't a fit for Plaid. We just had this bad assumption that people that had been doing a thing for that long weren't going to hustle.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

One that I've changed was there's this thing internally called the experience trap, where we basically thought that anyone that had been doing a certain thing for more than 15 or 20 years kind of wasn't a fit for Plaid. We just had this bad assumption that people that had been doing a thing for that long weren't going to hustle.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

This was based on our own experience, meaning we'd interviewed a bunch of people and either seen friends or ourselves made some hires of people that had been really experienced but weren't willing to work that hard or were really jaded in their thinking. So we kind of avoided that early on in the company. But also, there was a time when experience didn't matter as much. Hustle mattered a lot more.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

This was based on our own experience, meaning we'd interviewed a bunch of people and either seen friends or ourselves made some hires of people that had been really experienced but weren't willing to work that hard or were really jaded in their thinking. So we kind of avoided that early on in the company. But also, there was a time when experience didn't matter as much. Hustle mattered a lot more.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

This was based on our own experience, meaning we'd interviewed a bunch of people and either seen friends or ourselves made some hires of people that had been really experienced but weren't willing to work that hard or were really jaded in their thinking. So we kind of avoided that early on in the company. But also, there was a time when experience didn't matter as much. Hustle mattered a lot more.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Founder Mode is Dangerous & Could Encourage Bad Behaviour | Why Fundraising is a Waste of Time & OKRs are BS | Why Angel Investing is Bad for Founders to Do and the VC Model is on it's Last Legs with Zach Perret @ Plaid

Now that we're getting later into the company and as we're going to these more specialized fields, finding someone that's been a machine learning fraud engineer for 20 years, they're going to make a huge difference on your fraud product. You just have to filter for mindset. You have to filter for hustle.