00:01:36 · Nik Storonsky, Henrique Dubugras
[00:01:36] S0: Thank you for inviting. [00:01:37] S1: Yeah. So I think we've met in 2018 or 2019, I think in London. I'm trying to remember. And I remember the the first impression I had of you was like, wow. This guy's a hardcore guy. You know? He's, like, super intense and focused and, you know, and I remember coming to Revolut's office and it was like 8PM or something. And it was like, everyone was there. It was like super late and like, you know, it was like, oh, it reminds me of some these Chinese companies. Like, people work so hard. And I was really impressed. I came back to Brex and I like, we need to work for like those guys, you know, like they're crushing it there. So I'm curious, right? Like, were you like that since you were a kid, you know? Were you always like super hardworking, super intense in the beginning or is something that grew later?
00:01:37 · Henrique Dubugras, Nik Storonsky
[00:01:37] S1: Yeah. So I think we've met in 2018 or 2019, I think in London. I'm trying to remember. And I remember the the first impression I had of you was like, wow. This guy's a hardcore guy. You know? He's, like, super intense and focused and, you know, and I remember coming to Revolut's office and it was like 8PM or something. And it was like, everyone was there. It was like super late and like, you know, it was like, oh, it reminds me of some these Chinese companies. Like, people work so hard. And I was really impressed. I came back to Brex and I like, we need to work for like those guys, you know, like they're crushing it there. So I'm curious, right? Like, were you like that since you were a kid, you know? Were you always like super hardworking, super intense in the beginning or is something that grew later? [00:02:25] S0: Yeah. Thing when I was 70 years old and I was at school. School was pretty tough. And I was also taking part in a lot of competitions like in math, physics, also swimming. And because no one was really preparing me for these competitions, for math, physics, and then initially I was losing them. And because I was so competitive from the childhood. I really kind of, you know, learned myself to work hard to compensate for someone else preparing me because I was competing with other kids who had parents preparing them for Olympiads. And when I was losing, like in the first three, four years, I was really kind of tough for me. So I kind of get used to, you know, working hard and then putting myself 100% in something I want to win.
00:02:25 · Nik Storonsky, Henrique Dubugras
[00:02:25] S0: Yeah. Thing when I was 70 years old and I was at school. School was pretty tough. And I was also taking part in a lot of competitions like in math, physics, also swimming. And because no one was really preparing me for these competitions, for math, physics, and then initially I was losing them. And because I was so competitive from the childhood. I really kind of, you know, learned myself to work hard to compensate for someone else preparing me because I was competing with other kids who had parents preparing them for Olympiads. And when I was losing, like in the first three, four years, I was really kind of tough for me. So I kind of get used to, you know, working hard and then putting myself 100% in something I want to win. [00:03:14] S1: And was math and physics like your main... You're like a... [00:03:18] S0: Yeah. Math, physics, economics as well. [00:03:20] S1: Economics? You're using it from a young age? [00:03:21] S0: Well, not from a young age. I think in our... I started competing in Olympiads and Columbus when I was probably like 13, 14 years old. [00:03:30] S1: Is it like science Olympics? Is that the kind of [00:03:32] S0: Oh, science. Yeah. So it's very mathematical. Yes. [00:03:35] S1: But is it the the kind that goes to like the International Physics Olympics, like IFA or kind of competitions? [00:03:40] S0: It does. Yeah. [00:03:41] S1: Did you ever go to... Did you do well or do you kind [00:03:44] S0: of No. No. I actually won twice international. I won when I was in ninth grade and then eleventh grade as well.
00:03:44 · Nik Storonsky, Henrique Dubugras
[00:03:44] S0: of No. No. I actually won twice international. I won when I was in ninth grade and then eleventh grade as well. [00:03:51] S1: Oh, wow. The international one? [00:03:52] S0: International. Yeah. For physics? No. It was economics. Economics. Yeah. [00:03:56] S1: Oh, I didn't know they had [00:03:57] S0: it for economics. Yeah. [00:03:57] S1: What do they test you on? [00:03:59] S0: So there are two parts. One is effectively problem solving in economics, like in a mathematical Olympiad, but in economics. And second one is practice. So it's effectively you kind of play a game, setting up business and then putting money in R and D, in marketing, setting up the price. And then there are many, many other teams who have our companies. And then you just compete in a modeled environment. So it's all kind of computer program, right? It is based on rounds. For each round, you set up price, R and D spending, marketing spending, like hiring employees, firing employees, how many units you produce. Who wins? So you've got many, many teams across many countries. So usually 100 plus teams. And then we have... Same as in football, like in the rounds. Right? Yeah. And then in the final round, you compete against other, I think, seven or eight companies. And, yeah, I I won twice when I was 14 and 16. But how do they decide who wins? It's it's a competitive program. So winning is is basically how much profit you make overall. So it's a combination of profit, market share, quality of the product. [00:05:17] S1: But how do they run the simulations to me?
00:05:17 · Henrique Dubugras, Nik Storonsky
[00:05:17] S1: But how do they run the simulations to me? [00:05:19] S0: On computer. It's a computer program. [00:05:21] S1: Oh, there's a computer program, [00:05:22] S0: Yeah. By So you use a team. You just input certain parameters, right? Like computer calculates everything for all the teams. [00:05:30] S1: Interesting. [00:05:30] S0: And then they give you a report on your company in terms of what is the P and L, how much is sold and so on. And then you put input, for the second round, third round and so on. [00:05:40] S1: And how did you find out? I never heard about this. Like, how did you find out about it? [00:05:43] S0: I think my teacher just introduced us to it. [00:05:46] S1: Yeah. Interesting. So did you have econ class in Russia? Yeah. Was part of the core curriculum? Yeah. Yeah. That's so cool. Yeah. Yeah. So you... And then you're like, okay, now you have these econ classes, like go do these Olympiads and... [00:05:59] S0: Exactly. Yeah. And then when I went to uni, I went to study physics. It's top university in physics in Russia. MIPT is equivalent of MIT but in Russia. And, yeah, I went specifically in the group where they had economics classes as well. [00:06:17] S1: So... And why did you go study physics, not economics? [00:06:21] S0: Just because it was the best university and I always thinking it doesn't matter where you study, it matters like, you know, how they develop your brains. And then in my mind, economics was much easier compared to physics. And I I was actually living alone since I was 13, 14 years old. And then I stayed with my brother.
00:06:21 · Nik Storonsky, Henrique Dubugras
[00:06:21] S0: Just because it was the best university and I always thinking it doesn't matter where you study, it matters like, you know, how they develop your brains. And then in my mind, economics was much easier compared to physics. And I I was actually living alone since I was 13, 14 years old. And then I stayed with my brother. [00:06:37] S1: Oh, interesting. [00:06:38] S0: I had a flat and then, yeah, I continued school. [00:06:40] S1: So you're living by yourself since you're 14. Yeah. That's that's very interesting. That's like a different thing. You know, it's funny. I actually had a similar experience. I went to do exchange programs, which is kind of living in a family, but then I kind of was living by myself since 15, 16. And I definitely think that living by yourself, you know, makes you an adult faster. [00:06:59] S0: Okay. Awesome. Yeah. [00:07:00] S1: Did you like have any like funny stories about, you know, that time that you're living by yourself? [00:07:06] S0: That was so long time ago, but I mean, preparing food for myself, like cleaning for myself. I think it's very important. You had [00:07:13] S1: to do everything. You were cooking for yourself, cleaning up after yourself. And you're living in the home that they left. They left home. Yeah. And then how does the uni process work? You just do a test and you kind of get in?