The High Flyers Podcast with Vidit Agarwal
00:37:58 · Vidit Agarwal, Jack Zhang
[00:37:58] S0: Yeah. Yeah. [00:37:59] S1: You could be the most successful person in the world, but your life could be miserable. And I've seen that in real life. And you could be just doing a normal job and then just be very happy. I want my daughter's name is Ella. I want Ella do what she's passionate about, whether it's arts or it's music. Yeah, anything that she feel passionate about, I don't have the expectation she will be doing the next big thing in the world. [00:38:28] S0: You sound... You're a very different Asian parent. I think most Asian parents will be like, do this. So... [00:38:34] S1: Yeah. I think I feel like a lot of the Asian parents, like, they're not super successful themselves, so they force their kids to to do that. Yeah. Yeah. And also, I I I think my my mindset is heavily influenced by Australian culture and also like US culture. [00:38:51] S0: I think another part that's really interesting about you that you were telling me the other day is you spend a lot of time with other founders. Like you talked about curiosity, and I know you've got a really good network of founders. What are some areas you've tapped into other founders that you're learning about? Like, give me some examples of questions that you ask other successful founders that helps you learn.
00:39:14 · Jack Zhang, Vidit Agarwal
[00:39:14] S1: I generally curious about that mindset of how do you think about the principles running the business. I used to be very focused on, we will build a $100,000,000,000 bids. This is reverse engineer what a $100,000,000,000 business looks like. And reverse engineer to today, as in what do we need to build together? But that's the single focus. It's just like, let's just dissemble everything and just look at how that revenue got constructed a $100,000,000,000 business and what do we need to build to get there? How do we scale? This is like really focused on. I think what I learned from a lot of the Silicon Valley founders is really customer focus and problem focus. And then I think that will give you, I think that you will make a better decisions in terms of priority. I think end of the day, Airwallis is nothing without its customers so that if we laser focus on solving customer's problems and then customer like a super happy with our product and services that, and then that will help us to get that faster. I think like that customer first mindset is really kind of what I learned from some of the Silicon Valley founders. Laser focus on that priority. [00:40:30] S0: Yeah. And are there any founders that you've met them and you're like, wow, they are very impressive that inspire you?
00:40:39 · Jack Zhang
[00:40:39] S1: I have a bunch of friends that are like super successful. Know Eric from Brax really well. And he and his co founder Pedro just very complement each other. And Eric is only like 28. Right? I very rarely sort of meet somebody like every time we catch up, I learn something from him. This is probably the the most optimistic person I know in the world. He always think everything just gonna work out ultimately. Right? So... And you always, he's always open about sharing his his lessons and failures and the success he had, and always wanted his friends to be successful and helping his friends and just very, very inspiring. And to hang out with somebody that always willing to share. Very close with the founder of MessageBird. Now they just rebranded to Bird. And they build the entire sort of network of carriers around the world to challenging Twilio, to providing the best communication infrastructure to help businesses to sending text SMS and WhatsApp or other omni channels. But now they're building application layer, a marketing platform, a CRM platform to help modern business to acquire customers, engage customers and then convert customer with payments. So they build the entire payment infrastructure on top of Airwallets. It's almost like he's reinventing his businesses from a purity of infrastructure business to application plus infrastructure business, and then challenging the clavails of the attempt of the world. It's very, very impressive founder. And the one thing I really like about him is like told me one thing I really changed my perspective life. He told me, dude, money is fluid, but time is not.
00:42:24 · Vidit Agarwal, Jack Zhang
[00:42:24] S0: So [00:42:26] S1: that you should really spend your time on things going to evolve your life experience. And that's where you should spending your time and effort on. Just enrich yourself, enrich your experiences and then spending, and I also learn a lot to spending time with people that I feel I can learn from. Also one thing I kind of figured this out myself is like, think about the amount of people you can spend a significant amount of time in your life. How many you can spend this amount of time with? I don't know, 20, 30 people, Right? Mean, you divide it by 50 weeks a year, like it can't be more than 50 people. Right? Because I'm talking about like people you're spending time every year with. And I just wanted to build relationship that can have an endurable sort of relationship. It just that you want to spending time and effort on somebody that you feel that you can have a lifelong relationship that can kind of, that you can keep learning from each other and rather than just spend like useless time on something.
00:43:33 · Vidit Agarwal, Jack Zhang
[00:43:33] S0: Yeah. That's so interesting. And then let's talk a bit about venture capital and some of the areas of venture capital that maybe aren't spoken about. I think one is you've actually, I think, tweeted about this years ago, and I see this all the time where there's this disconnect between founders and investors. Founders think they know more, investors think they know more. You've raised a lot of money from very credible investors in Australia, Asia Pacific, US. What do you think is broken about the relationship between founders and investors that if you had a chance, you would wanna fix? [00:44:06] S1: I don't know that there's a broken relationship. I have great relationship with my investors. I think you you you have... You start with engaging investors with your with your passion and honesty, what you actually wanted to build. Right? I think that I can't think of a investor like I have like a really bad relationship with. If you think about Paul from SquarePack and I, he inspired me to be entrepreneur. Right? And we talk about challenges and businesses and problems and personal life all the time. And that has been a great relationship. I don't have anything broken I can I can talk about? [00:44:45] S0: Yeah. No. Fair enough. I realized that was a hard question. Maybe an aspect that you would have a view on that's unique is what's the biggest difference between Australian and US VCs in your experience? [00:44:59] S1: Like do they [00:44:59] S0: ask different questions or they focus on different metrics?
00:44:59 · Vidit Agarwal, Jack Zhang
[00:44:59] S0: ask different questions or they focus on different metrics? [00:45:04] S1: I didn't interact with Australian VC that much apart from Paul from Scrap Pack. I had one call with Airtree when it was early on and they didn't understand what I was talking about. Yeah. This is like a a pointless conversation. Yeah. And I I I messaged the Blackbird guys and never got a response to have a conversation. Right? They they... They're not interested in having a conversation. So that's all my interaction with with Australia VCs. [00:45:31] S0: Yeah. Fair enough. Okay. And then we saw an announcement yesterday, you've announced a new partnership with McLaren f one. Congratulations. I'm a big Formula one fan, and I'm sure a lot of people are gonna ask you for tickets now, so get ready for those ticket requests. How does a partnership like that come about? Like, I'm sure there's a lot of people involved, but just give me the summary. Is that an internal strategy at Airwallet? Or did they approach you? How did that happen?