00:08:09 · Joubin Mirzadegan, Jack Zhang
[00:08:09] S1: And you were 17 at the time? Yeah. What happened? [00:08:17] S0: My dad just sort of, you know, was managing the bank, and they... The bank lost a lot of money, and he got investigated for many years. And all the asset got frozen, and, you know, lucky he didn't go to jail. You know, this Wow. [00:08:34] S1: Yeah. And are... Do you have any siblings? No. Just you? Yeah. And so they were very protective of how you felt? Yeah. Especially my mom. And was he, like, in the news? Like, was [00:08:45] S0: it No. I mean, it's it's not like it's small it's a small town. Right? It's not like a big city. You know, we were wealthy in, you know, in a very sort of absolute sense from that that city perspective. Right? [00:08:57] S1: It's, you [00:08:58] S0: know, it's a 8,000,000 people city. This is not a... It's a it's a second tier or third tier city in in China, but it's but it's not Beijing or Shanghai or Hong Kong. [00:09:06] S1: You know? It's not that small. [00:09:08] S0: Well, I mean, there's a lot of cities with 8,000,000 people in China. It's it's not a... You know, he's not a very... You know, you know, in a kind of... From a country perspective, he's [00:09:18] S1: Because of San Francisco. Yeah. But it's it's very different. You know what I mean? Yeah. Yeah. Know what mean. [00:09:22] S0: Yeah. Well, it's... Especially Capital per capita probably, like, I don't know, 1% of San Francisco back then. [00:09:27] S1: You know? Yeah. Yeah. And did you care?
00:09:27 · Joubin Mirzadegan, Jack Zhang
[00:09:27] S1: You know? Yeah. Yeah. And did you care? [00:09:34] S0: Of of course. I mean, like, I would literally need to figure out what do I do to finish my high school and go to college and because they [00:09:41] S1: couldn't pay for it? Like, you didn't go from a lot of money to less money. Yeah. Went from a lot of money To zero. To no money. [00:09:47] S0: Yeah. Zero money. [00:09:49] S1: They had to sell the house that you lived in. [00:09:52] S0: Well, this... The... Everything got frozen, it's not even sell. [00:09:54] S1: Everything.
00:09:54 · Joubin Mirzadegan, Jack Zhang
[00:09:54] S1: Everything. [00:09:55] S0: Yeah. So we kind of just had, like, a few houses we bought, like, over ten years before that happened in, you know, very old places, and we kinda lived there. And and my mom also was working for the bank, she had to resign from her job to become entrepreneur to help to pay for my stuff. And and, obviously, I have to figure out how to pay as well. And because I already left the China education system, that's a very competitive system, and it's extremely hard once you, you know, leave... Left for for, like, two years almost and then try to come back into that system. It's you got no chance of competing with the guys who were studying fifteen hours a day. Right? And I basically had to figure out how to survive by myself in Australia and pay for my tuition. And my mom obviously become entrepreneur. She kinda helped as well, but it's still not enough. Right? So we have to work fifteen hours a day. Initially, I was washing dishes in in a restaurant between 4PM to to midnight after after high school. And after I went to uni, I was doing bartender from, like, four to midnight, and then I work overnight in a petrol station from midnight to eight in the morning. Where? Like a petrol station, like a cashier. [00:11:06] S1: Oh, like a gas station? [00:11:08] S0: Yeah. So you basically do, like, from 4PM to 8AM, you know, sixteen hours a day. [00:11:16] S1: And why didn't you, at that point, just stay in China where it's like a little bit more familiar, your mom's there, your dad's there?
00:11:16 · Joubin Mirzadegan, Jack Zhang
[00:11:16] S1: And why didn't you, at that point, just stay in China where it's like a little bit more familiar, your mom's there, your dad's there? [00:11:29] S0: Well, I I don't think I'm competitive anymore. Right? I used to be, you know, top 10 in the entire city from academic standpoint. I just... You know, after two years, honestly, I didn't study much at all in Canada and Australia. You know, like, it just feels like the the academic competitive level in in Australia is, like, not even close to where I was, and I can just get the best score without study. And, you know, just going back is not realistic. Like, I would go to, like, a tier two university. You know? I would never go to the the Stanford and and, you know, University [00:12:06] S1: of good university in Australia? [00:12:08] S0: I mean, it's the best one in in Australia. [00:12:10] S1: Yeah. [00:12:11] S0: I mean, like, it's not kind of Stanford or anything. Right? It's the University of Melbourne, but, you know, that's already the best in in Australia. [00:12:17] S1: Wow. That's fascinating. And how how long were you able to do the eight 8PM... 4PM to 8AM back to back shifts? [00:12:29] S0: I probably do, like, at least sort of three, four days a week throughout the entire college. Through all of college? Yeah. And I I was I was also working in the weekends in a computer repair store doing, like, p s three jailbreak and, you know, putting together servers and do some basic coding and stuff. Do you still have that in you today? I mean, what? Writing code?
00:12:29 · Jack Zhang, Joubin Mirzadegan
[00:12:29] S0: I probably do, like, at least sort of three, four days a week throughout the entire college. Through all of college? Yeah. And I I was I was also working in the weekends in a computer repair store doing, like, p s three jailbreak and, you know, putting together servers and do some basic coding and stuff. Do you still have that in you today? I mean, what? Writing code? [00:12:57] S1: No. Like working like that. Can you still work? [00:13:00] S0: I still work like fifteen hours a day in most of the days. And the last three weeks, I on average just sleep four hours a day. [00:13:09] S1: What's been going on the last three weeks? Just
00:13:13 · Jack Zhang
[00:13:13] S0: lots of stuff happening on AI, lot of kind of new initiative on international expansion, and also, you know, need to deal with regulatory audit in many markets. Right? So because the path we chose is very complicated. You know, we regulate it in 60 plus markets around the world, and every single market will have multiple licenses, and we're interfacing, you know, almost every single regulator in every single jurisdiction. And there's always some sort of audits and on-site and RFI going on that we kind of have to maintain, you know, the largest financial and regulatory infrastructure in the world, and that is lot of pressure. And maybe like fifteen seconds on what Airwallex does. Airwallex is a global financial and payments platform to empower modern businesses to operate and grow globally. Think of it as like the easiest way to think about it is like a RAN plus Stripe sort of together, but with sort of Citibank as the as the infrastructure. Right? So the, you know, the... Ultimately, Air Wallets wanted to to build the next generation of Citibank. But in a sense, like, the the the global bank, you know, is is different. Right? The future of global banking is not how you're looking at JPMorgan or Citibank today. It's a fully sort of vertical integrated financial and regulatory infrastructure layer, but with organic finance on top Mhmm. That to creating not only autonomous finance, but also able to executing on the on the infrastructure layer that to creating financial outcome or payments outcome. Right? So Mhmm. Imagine, like, what you do today. You you do a bunch of stuff in your, I don't know, finance software, a payroll software, or vendor spend management software. Then you download a bunch of stuff, a file you go to Citibank, you upload it, and then you process the payments. It's very kind of separate process, but with with AirWallet, it's all fully integrated that you're not only able to to operate in the financial operation with agent to help you, and when the agent wanted to confirm the actual payments or or actual money in money out, that our infrastructure were able to get instruction and get it done straight away. Mhmm. And and when the money out, that you're able to reconcile the cash and the actual ledger without any actual work.