The Modern CFO
The Modern CFO podcast is designed to illuminate the hard work that is behind the scenes in financing next-generation ideas and technologies, as well as acknowledging the developing role of senior financial professionals, and the tools they rely upon.
Wed, August 07, 2024
The Journey to Interplanetary Innovation with Relativity Space CFO Mo Shahzad
Relativity Space’s CFO, Mo Shahzad, has been instrumental in shaping aerospace innovation, most significantly in helping build and launch Terran 1, the world’s first 3D-printed rocket. Mo's commitment to pushing the boundaries of what's possible in space exploration underscores his pivotal role in steering Relativity Space to the forefront of the industry. In this episode, Mo joins host Andrew Seski to share his unique journey from growing up in Pakistan to joining a cutting-edge company. He provides insights into how competition fuels progress and emphasizes the importance of maintaining integrity and transparency as core company values. Mo also discusses how Relativity Space fosters a culture of curiosity and eagerness for learning, enabling the company to quickly iterate on its ambitious mission to make life interplanetary. Tune in to hear from an incredible leader advancing aerospace ingenuity, as Mo navigates the industry’s complexities with an unwavering focus on progress. This episode provides a fascinating glimpse into the future of space exploration and highlights how modern finance plays a crucial role in shaping it. Show Links Connect with Mo Shahzad on LinkedIn Connect with Andrew Seski on LinkedIn Discover more about Relativity Space today!
Fri, June 07, 2024
Leveraging "The Venture Mindset" with Ilya Strebulaev
In the complex world of academia, corporate finance, and venture capital, few names resonate as powerfully as Ilya Strebulaev’s. As a Professor of Finance at the Stanford Graduate School of Business, Ilya has cemented his reputation as a leading authority in corporate finance, financial decision-making, and private company valuation. Ilya’s academic journey is marked by countless accolades and published works in top-tier academic journals. In his latest book, The Venture Mindset , Ilya’s research provides profound insights into venture capital markets, offering a deeper understanding of financial strategies employed by firms today. Known for his rigorous analysis and clear articulation of complex financial concepts, Ilya’s work is a cornerstone for both scholars and practitioners alike. In this episode, Ilya joins host Andrew Seski to discuss his extensive research and its implications for modern CFOs. He delves into the nuances of venture capital, the history that led him to his success, and some of the core principles that allow VCs to pursue success despite the odds. Listeners will gain invaluable perspectives on how to navigate the intricate financial terrain from one of the foremost experts in the field. Whether you're a seasoned CFO or aspiring to enhance your financial acumen, this episode promises to enrich your understanding of corporate finance and venture capital, guided by Ilya’s expertise and experience. Show Links Connect with Ilya Strebulaev on LinkedIn Connect with Andrew Seski on LinkedIn Order your copy of his book The Venture Mindset today
Thu, May 02, 2024
The Force Multipliers Fueling Fanatics' Success with CFO Glenn Schiffman
Fanatics has rapidly emerged as a juggernaut in the world of licensed sports merchandise, collectibles, and online betting. What started as an online retailer in the late 1990s has transformed into a multi-billion dollar operation serving as the official e-commerce partner for major professional sports leagues like the NFL, NBA, MLB, NASCAR, as well as top college programs. Under the leadership of CFO Glenn Schiffman and executive chairman Michael Rubin, Fanatics has vertically integrated its operations by acquiring brands like Topps' sports collectibles business, and many others across manufacturing and, most recently, online betting platforms. This aggressive growth strategy has propelled Fanatics' revenue from just $250 million in 2012 to over $7 billion (as of 2022). The company has secured groundbreaking long-term merchandising rights partnerships with sports leagues, while also expanding into new revenue streams like collectible NFTs and online sports betting via Fanatics Betting & Gaming. With over 100 million customers in its database, Fanatics is uniquely positioned to provide a comprehensive, fan-first experience across merchandise, collectibles, and gambling verticals. In this episode, Glenn Schiffman pulls back the curtain on Fanatics' meteoric rise, sharing his journey from investment banking to CFO. He also highlights the company's forward-thinking acquisition strategy, how they attract top talent, and his vision for the future as Fanatics dominate the intersection of sports and entertainment. Show Links Connect with Glenn H. Schiffman on LinkedIn Connect with Andrew Seski on LinkedIn Learn more about Fanatics
Wed, April 10, 2024
Building Evergreen Success: Insights from Dallas Clement, President, and CFO of Cox Enterprises
Join Dallas Clement, President and Chief Financial Officer of legendary Cox Enterprises, as he shares invaluable insights into his career journey, financial leadership, and how Cox's foundational values have been a beacon of success for 125+ years. With over three decades of experience, Dallas emphasizes the importance of balancing culture, learning, and growth in any financial professional’s career trajectory. He also delves into Cox's ethos of embracing risk and innovation, even if it means competing with themselves, to stay ahead of technology and trends. We were thrilled to have host Andrew Seski on-site at the wonderful Cox campus in Atlanta to record this episode, and we are grateful for Dallas’ contribution to the CFO conversation. Tune in for a thought-provoking discussion on leadership, strategic vision, and the enduring legacy of Cox Enterprises. Show Links Connect with Dallas Clement on LinkedIn Connect with Andrew Seski on LinkedIn Learn more about Cox Enterprises
Thu, March 14, 2024
Resourceful Leadership From Seed to Scale with NerdWallet CFO Lauren StClair
In this episode of The Modern CFO, Lauren StClair, CFO of NerdWallet, shares her unique career journey spanning across startups and large corporations like PayPal, eBay, and StubHub. She delves into the valuable lessons she's learned along the way, offering key takeaways for professionals in the finance and technology industries. Lauren's journey began at a small early-stage startup, where she quickly learned the value of resourcefulness and urgency in business. This experience taught her to wear multiple hats and connect the dots across various aspects of the company, providing a solid foundation for her future roles. However, she also realized the importance of understanding how to operate at scale and the need for best practices, leading her to pursue opportunities at larger organizations. During her tenure at eBay, Lauren had the opportunity to work in different functions, both within and outside of finance. She participated in a leadership development program, allowing her to complete multiple rotations across various departments. This experience not only expanded her functional skills but also taught her the importance of embracing change and humility. As Lauren reflects on her career path, she shares valuable insights for professionals navigating the dynamic landscape of finance and technology: Embrace change : Be open to new opportunities and challenges, as they provide valuable learning experiences and contribute to personal and professional growth. Develop a sense of resourcefulness : The ability to be resourceful and adaptable is crucial in today's fast-paced business environment. Learn to operate at scale : Understand the importance of implementing best practices and executing strategies that enable businesses to grow efficiently. Cultivate humility : Recognize when to ask for help, raise questions, and learn from others, as these traits are essential for continuous improvement and effective leadership. Lauren StClair's journey in the world of finance and technology offers a wealth of knowledge for individuals looking to build a successful career in these industries. Tune in to The Modern CFO podcast to hear the full conversation and gain inspiration from Lauren's remarkable story. Show Links Connect with Lauren StClair Waugh on LinkedIn Connect with Andrew Seski on LinkedIn Learn more about NerdWallet on their website
Thu, February 01, 2024
Creating a Better Internet with Mozilla CFO Eric Muhlheim
"Am I continuing to learn? Am I continuing to create value?” These questions act as pillars for Eric Muhlheim, propelling his expansive career from studying mathematics to leading finance teams at one of the most dynamic tech organizations today. In our first episode of 2024, Eric and host of The Modern CFO, Andrew Seski, explore Eric's formative experiences at Morgan Stanley, his impactful tenure at Disney, and his transition into the world of tech leading him to his current role at Mozilla. Eric shares insights into Mozilla's unique corporate structure, its mission-driven approach, and the challenges and opportunities presented by the AI revolution. Listen in as Eric and Andrew discuss the importance of strategic implementation, the critical role of maintaining a strong, mission-aligned balance sheet, and Eric's personal approaches to leadership and relationship-building in the corporate world. Show Links Connect with Eric on LinkedIn Connect with Andrew on LinkedIn Check out the 2023 State of Mozilla
Wed, December 06, 2023
Investing in Innovation: CFO Will Heyburn on Taking BLADE to New Heights
From investor to public company CFO, BLADE's Will Heyburn shares his path to the selective role of leading a finance team from the private markets through an IPO and beyond. In this episode of The Modern CFO, Will unpacks BLADE's unique evolution from passenger transportation to a leading medical organ transport provider and why they continue to focus on direct communication, data-driven decision-making, and building a customer-centric culture. Will and host Andrew Seski discuss the intricate balance between risk management, client satisfaction, and staying adaptable, especially as a technology platform within the aviation industry. Listen in for more secrets to BLADE's success and valuable lessons for aspiring CFOs navigating the future of technology within their own companies. Want to give BLADLE a try? Listeners can use Will's promo code* available towards the end of the episode! *Terms and conditions may apply Show Links Connect with Will Heyburn on LinkedIn Connect with Andrew Seski on LinkedIn Learn more about BLADE on their website
Mon, November 06, 2023
A Macro Moment for the Modern CFO with Financial Stability Professor Steven Kelly
In today's fast-paced marketplace, distinguishing what is important and impactful is a challenging task, and when a crisis unfolds rapidly, the stakes reach unprecedented heights. Steven Kelly, Associate Director of Research at the Yale Program on Financial Stability, joins us to discuss how navigating the choppy financial waters requires CFOs to possess a keen sense of judgment, as well as a sharp appetite for risk. Our conversation delves deep into financial stability, its critical tools for navigating fast-moving crises, its relationship with technology, and recent dynamics among banks, governments, and international markets. Listen in as we uncover valuable insights on how CFOs can better understand, mitigate, and effectively manage risk, offering a lifeline for those seeking to fortify their financial strategies and bridge the gaps in tomorrow's balance sheets. Show Links Connect with Steven Kelly on LinkedIn and on Twitter/X Connect with Andrew Seski on LinkedIn Learn more about Yale’s program on Financial Stability Discover more with the program’s knowledge base
Wed, October 04, 2023
Beyond the Badge: Lessons from the Automotive Industry with Verge Motorcycles CFO Mark Wilson
In this episode, Mark Wilson, former CFO of iconic automotive brands McLaren and Aston Martin, reveals the keys to enduring success in an ever-changing industry. Now CFO at Verge, an electric motorbike company, he shares with us his strategy to marry cutting-edge performance innovations with an authentic human experience. We discuss the fundamental values of financial management, especially in fast-paced environments. Mark emphasizes the importance of discipline, rigor, and transparency in all financial decisions. We also talk about the power of partnerships built on mutual goals, where the sum or parts is far more valuable, while also highlighting strategies he’s used for avoiding one-sided deals. Listen in as we revel in Mark’s experiences at Aston Martin, where he successfully propelled the storied brand into the modern era—navigating great deals while also supporting legacy relationships, like that of the storied James Bond franchise Show Links Connect with Mark Wilson on LinkedIn Connect with Andrew Seski on LinkedIn Discover Verge Motorcycles on their website
Mon, September 18, 2023
How to Measure What Matters for Durable Growth with ThoughtSpot’s Mohit Daswani
In a world where data reigns supreme, today's leaders need to balance the quantitative with the qualitative to lead, create, and inspire the next generation of CFOs. In his role as CFO at ThoughtSpot, Mohit Daswani leverages his extensive background gained from notable positions at JPMorgan, PayPal, and Square. He passionately champions the company's mission to forge a future grounded in data-driven decision-making. Having had the privilege of learning from industry luminaries such as Bob Swan, Sarah Friar, and John Rainey throughout his career, Mohit envisions an even more profound influence achieved through the power of machine learning Listen in as Mohit discusses three core principles shaping his role with host Andrew Seski: building a fact-driven culture, learning from his mentor’s invaluable influence, and discovering the strategic role of a CFO in leveraging data to shape business decisions. He also touches on a commonly underestimated aspect of modern life–the need for genuine human connection. Show Links Connect with Mohit Daswani on LinkedIn Connect with Andrew Seski on LinkedIn Explore ThoughtSpot's data analytics solutions
Wed, August 02, 2023
How Turo Assembles Trust, Value, and Platform Power in the Car-Sharing Industry with Chuck Fisher
Have you ever wondered what the future of car-sharing looks like? Turo CFO Chuck Fisher unpacks this with host Andrew Seski on this episode of The Modern CFO Podcast. Chuck also shares his perspective on the role of trust in car-sharing technology, the economic value created on Turo's platform, and how Turo is bridging the gap in transport insecurity. Listen in as Chuck shares his most memorable pit stops and detours along Turo's journey, including the company's rapid growth in 2021. From the role and impact of his mentors, to scaffolding platforms, hear Chuck’s route to the CFO seat and how Turo is using data-driven decision-making to create a more sustainable and equitable transportation system. Show Links Connect with Chuck Fisher on LinkedIn Connect with Andrew Seski on LinkedIn Find your drive with Turo
Tue, June 27, 2023
Accounting for Variability with Jessica Holscott
Jessica Holscott didn’t always have a clear route to a public-facing C-suite role. She had spent many years in different industries — from lighting to vehicle manufacturing — transitioning through a variety of positions to become the well-rounded businesswoman she is today. Most recently, she served as executive vice president (EVP) and chief financial officer (CFO) of WarnerMedia Studios & Networks . Prior to that, Jessica held several leadership roles, including EVP and CFO at HBO, senior vice president of investor relations at Time Warner , and CFO of NBCUniversal’ s TV Stations division, where she brought a wealth of experience and knowledge in financial management, strategic planning, acquisitions, and more. In this episode of The Modern CFO, Jessica talks with host Andrew Seski about the playbooks that guided her throughout her career and how she transitioned into the public-facing media landscape. An avid networker with deep roots in the entertainment industry and blue-chip consumer companies, Jessica also shares invaluable lessons for aspiring CFOs seeking mentorship. Show Links Connect with Jessica Holscott on LinkedIn Connect with Andrew Seski on LinkedIn
Thu, June 08, 2023
Navigating the Evolving World of CFO Leadership with Dan Ellis of Townsend Search Group
For Townsend Search Group, executive search is a highly personalized process—one that requires looking at the market, the competitor environment, and the culture of the client’s organization, and then drawing up a tailored strategy for them. The goal isn’t just to find candidates. Rather, Townsend aims to place change-making leaders that fulfill long-term goals, influence strategic plans, and impact decision making across client organizations. In this episode of The Modern CFO, Dan Ellis, Managing Director at Townsend Search Group, dives into the challenges, strategies, and invaluable lessons for aspiring CFOs and those seeking effective financial leadership. With over a decade’s experience in public accounting and consulting, Dan Explores the diverse personalities, drive, and discipline that define these financial leaders. From the vital role of athletics in shaping their work ethic to the crucial balance between work and personal life, gain valuable insights into what it takes to excel in the competitive world of CFOs. Show Links Check out Townsend Search Group Follow Townsend Search Group on LinkedIn Connect with Dan Ellis on LinkedIn Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello, everyone. Welcome back to another exciting episode of The Modern CFO Podcast. As always, I'm your host, Andrew Seski. Today, we're joined by Dan Ellis, managing director of Townsend Search Group, a search group based in Michigan, my home state. And for just over a decade, Dan shared his career experience in public accounting and consulting and today is connecting private equity groups or portfolio companies with the best talent there is. Dan, thank you so much for joining us today. [00:00:35] Dan Ellis: Andrew, thank you. Happy to be here and excited to chat about some topics about the modern CFO. [00:00:43] Andrew Seski: So one of the reasons I'm so excited that you're on the podcast is that we get all of these incredible insights from CFOs in their fields. And while they're all diverse, I think your perspective should be really unique and valuable to them. It's a somewhat opaque world and I know that market dynamics have severely shifted in the last few years and even last few months. Before we dive into the whole world of CFO pl
Wed, May 17, 2023
Beyond the Ballpark: Winning Strategies for CFOs with John Nickolas of The Philadelphia Phillies
It is a real privilege to invite you to listen to this exclusive podcast episode featuring John Nickolas, the esteemed CFO of the Philadelphia Phillies since 2007. With a rich background that includes notable contributions to Philadelphia's business landscape through esteemed firms like KPMG, Safeguard Scientifics, and Internet Capital Group, John's leadership has been instrumental in shaping the success of the city's iconic ventures. In this episode of The Modern CFO, host Andrew Seski engages in a compelling conversation with John, delving into the intricacies of managing a publicly visible yet privately-owned enterprise such as a professional sports franchise. Drawing from his extensive experience, John shares veteran insights that hold relevance for CFOs and aspiring leaders alike. Don't miss this opportunity to gain valuable perspectives from a seasoned industry expert. Show Links Check out the live podcast recording on Nth Round's Youtube Follow The Phillies on Twitter and Instagram Connect with Andrew Seski on LinkedIn
Thu, April 27, 2023
The Intersection of Digital Transformation and Customer Experiences with Zhi Li of Customer.io
As customer expectations continue to evolve, marketers must adapt by delivering more personalized, timely, and efficient communication. This is where the online marketing platform Customer.io truly shines. Customer.io enables tech-savvy marketers to engage with their customers in a more meaningful way through emails, SMS, push notifications, and more. For the fast-growing SaaS companies that Customer.io serves, this capability could translate into stronger customer relations, higher conversion rates, and increased scalability. In this episode of The Modern CFO, host Andrew Seski talks with Customer.io CFO Zhi Li about his nonlinear career path, the impact Customer.io can have within organizations, how marketers can use AI as a fractional assistant, and more. Show Links Check out Customer.io Follow Customer.io on LinkedIn , Twitter , and Instagram Connect with Zhi Li on LinkedIn Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello, everyone. Welcome back to another episode of The Modern CFO Podcast. As always, I'm your host, Andrew Seski. Today, I'm joined by Zhi Li, CFO of Customer.io. Zhi, thank you so much for being here today. [00:00:21] Zhi Li: Thanks for having me. [00:00:23] Andrew Seski: So I'd love to talk about your career progression, the route to the CFO role, your first time as a CFO in earlier companies. But before we do so, I'd love to hear a little bit of background as to what you were interested even in undergrad and some of the first roles that you had, you know, right out of Penn. [00:00:41] Zhi Li: Yeah, yeah. So maybe just a little bit of myself and then we can probably launch into different topics that would go in there. But so I was born in China and then grew up in the Bay Area and then went to Penn. You and I just chatted about like Philly, which is the city that I really love. But after Penn, I actually started my career in Canada. So I was in finance at a wireless division of a large telco called Bell Canada. And then after that, I moved back to the US. So I worked in investment banking in New York in the tech group of Credit Suisse. So if you foll
Tue, February 28, 2023
Bridging the Gap in NextGen Communications with Anthony Pastore of UBS
In the world of wealth and asset management, and the private markets in general, there is a noticeable communication gap between generations. The next generation of owners–people between the ages of 18 and 25–are prolific consumers of digital content, from Reddit threads to Spotify podcasts. For many businesses, that means adopting new technologies, broadening offerings, and finding modern ways to effectively serve clients. In this in-person episode of The Modern CFO, host Andrew Seski visits with Anthony Pastore, Head of Broadcast Communications at UBS, to chat about what his firm is doing to bridge that generation gap in communicating and investing, the role that social media and video plays in staying relevant and ahead of the competition, and the importance of having a digital approach to maintaining the massive amount of wealth transferring to the next generation in the decade to come. Show Links Check out UBS Follow UBS on LinkedIn Listen to UBS Trending on YouTube or your preferred podcast app Connect with Anthony Pastore on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: I'm Andrew Seski and this is The Modern CFO Podcast. I'm thrilled today to be joined by Anthony Pastore, head of broadcasting at UBS. We're in New York. We're here together. It's a rare opportunity for me and I'm thrilled about the conversation that we're gonna have today. Anthony, thank you so much for being here. [00:00:25] Anthony Pastore: Andrew, I'm honored to be here with you and it's very rare for me to be on the other side of the table of, podcast and video interviews. Usually, I'm the one asking the questions so I actually said to my team today as I was preparing to sit with you, I was like, I'm a little nervous. I'm not used to being interviewed. I'm usually the interviewer so I wouldn't be surprised if at some point I start turning the microphone to you and saying, "Andrew, I have a few questions for you as well" so hopefully, you're prepped for that. [00:00:49] Andrew Seski: I'm happy to. [00:00:51] Anthony Pastore: Anyway, I'
Tue, January 10, 2023
Making Business Banking Frictionless with Jeremy Klaperman of Rho
Many small and medium-sized businesses in the country rely on a disparate range of financial services to help manage their accounts, expenses, and payments. Unfortunately, this system lends itself to time-consuming processes and inefficiencies that get in the way of growth. That’s why Rho is integrating all the financial services businesses need into one easy platform. With Rho, finance teams can view everything in one spot, scrap inefficient processes, and focus on driving value and growth. In today’s episode of The Modern CFO, host Andrew Seski talks with Rho CFO Jeremy Klaperman about how to 1) organize information systems, 2) build out an integrated data infrastructure from day one, and 3) embrace cultures of integrity from the CFO position. With decades of experience at elite financial organizations such as Goldman Sachs, D.E. Shaw, and Citadel, Jeremy expertly navigates his role as Chief Financial Officer. Show Links Check out Rho Follow Rho on LinkedIn Connect with Jeremy Klaperman on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello, everyone. Welcome back to another episode of The Modern CFO Podcast. As always, I'm your host, Andrew Seski. Today, I'm thrilled to be joined by Jeremy Klaperman, CFO of Rho. Jeremy, thank you so much for joining me today. I'm excited to talk. [00:00:23] Jeremy Klaperman: Thanks so much for having me. Really excited to be here. [00:00:26] Andrew Seski: So, Jeremy, you've spent most of your career across some of the most storied investment firms, from Goldman to D. E. Shaw to Citadel. But this is your first foray into the CFO role. I'd love to hear a little bit about what it's been like over the last six months crossing this chasm. [00:00:45] Jeremy Klaperman: It's been great. It's something that I've been looking forward to doing and planning for a while. And I think of my 20 years in investment banking and investment management as training for this because I either advised or invested in companies from all regions, from all industries, many different market cycles, whether it's the original tech bubble burst of the early 2000s to the global financial crisis to COVID. And I've had so
Tue, December 20, 2022
How Brex Empowers Finance Teams to Address their Hierarchy of Needs
So much of the purchasing for tech startups and small businesses is online. Yet they often struggle to pay for the services and platforms they need because they don’t have business credit cards. This problem is especially acute for startups that lack credit as they’re more likely to have a hard time securing financing from banks than startups with good credit scores. FinTech giant Brex seeks to address this problem by supplying startups with the banking stack they need to scale. In today’s episode of The Modern CFO, host Andrew Seski talks with Brex COO & CFO Michael Tannenbaum about how Brex empowers startups, the global nature of startups, how he thinks about growth in different market cycles, and more. Show Links Check out Brex Connect with Michael Tannenbaum on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello, everyone. Welcome back to another exciting episode of The Modern CFO Podcast. As always, I'm your host, Andrew Seski. Today, I'm thrilled to be joined by Michael Tannenbaum, CFO of Brex. Michael, thank you so much for being here. [00:00:21] Michael Tannenbaum: Thank you for having me. [00:00:23] Andrew Seski: So, today, I'm excited to talk about a myriad of topics, including leadership, rise to the CFO, what excited you about Brex. So, we've got a ton to cover today and I kind of want go back in time to leaving undergrad and kind of your first roles. It's always interesting to hear kind of how people cut their teeth, whether it's in finance. We've had a number of CFOs who actually went into, you know, service first and others who started in, you know, the typical Big Four. So, I'd love to go kind of hear about your early career and, you know, walk us through the rise to your position today. [00:00:58] Michael Tannenbaum: Sure. Thank you for having me. I actually wanted to be an economist when I was in college. But my thesis advisor at school thought that academia would be not a good fit because I was too commercial and I enjoyed working a lot and, you know, in that profession, not that they don't work a lot, but, you know, you have summers off and there's a lot of lifestyle benefits to being part of university and he didn't think that those would resonate with me as much. So, he
Wed, December 07, 2022
Unlocking Private Markets for Everyday Investors with Fundrise CFO Alison Staloch
Private assets have traditionally been accessible only to large institutional investors and venture capitalists But that’s quickly changing, thanks to investment platforms like Fundrise. Fundrise is an online real estate investment platform with over 300,000 active users. Through Fundrise, everyday investors can access real estate markets and deals that they normally would not have been able to invest in on their own. In today’s episode of The Modern CFO, host Andrew Seski speaks with Fundrise CFO Alison Staloch about the democratization of private markets, alternative asset management, investor communications and transparency, and more. Show Links Check out Fundrise Listen to Onward, a Fundrise Production Subscribe to The Distance Newsletter, a Fundrise Publication Connect with Alison Staloch on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello everyone and welcome back to another episode of The Modern CFO Podcast. I'm your host, Andrew Seski. Today's episode highlights one of my favorite topics again: thoughtful democratization and access to alternative investments. I know you've heard me discuss secondaries and venture funds with Aman and Andrea , regulating accreditation and the history of Reg CF with Woodie , even angel investing with Oslene . But today, I'm thrilled to take another approach at this topic, which is so important and so critical at this time, with Alison Staloch, the CFO of Fundrise. Alison, thank you so much for being here. [00:00:43] Alison Staloch: Thanks for having me, Andrew. Super excited for the conversation. [00:00:45] Andrew Seski: So could you give us a quick overview of Fundrise? I know it's actually the largest direct-to-investor real estate platform in the US today. Is that right? [00:00:54] Alison Staloch: Yeah, that's right. So Fund
Mon, November 21, 2022
Cryptocurrency's Road to Resilience with Brett Royer of Fidelity Digital Assets
Crypto investors have seen their fair share of sudden market meltdowns this year. This week, all eyes were on FTX, formerly one of the world’s largest cryptocurrency derivative exchange platforms. This latest turmoil has sent shockwaves throughout the industry. Yet historically, cryptocurrencies have rebounded following each crisis. What doesn’t wipe out the blockchain becomes a hard lesson for crypto ventures, turning them into fortified iterations of themselves. For Brett Royer, CFO of Fidelity Digital Assets, the recent unraveling of FTX underscored hard lessons that are not unique to crypto. An expert in high-level financial planning, Brett says those lessons point to fundamental business principles that have long existed. In this episode of The Modern CFO, Brett talks with host Andrew Seski about decentralized finance, the role of trust within the increasingly digital world of finance, how he thinks about risk, and more. Show Links Explore crypto careers at Fidelity! Browse Open Positions Check out Fidelity Digital Assets Connect with Brett Royer on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello everyone and welcome back to The Modern CFO Podcast. As always, I'm your host, Andrew Seski. I'm thrilled for the episode today because we are joined by Brett Royer, who's head of finance at Fidelity Digital Assets. Brett, thank you so much for being here today. [00:00:19] Brett Royer: Andrew, thank you for having me. [00:00:21] Andrew Seski: So, we're going to dive right in. The world of crypto and the world of digital assets has evolved in a unique way, down to literally the hour, especially this week. So, I want to kick off not just on the current event side, but we're going to have plenty of time to go through those current events, I want to start today actually with your career and then kind of the history of Fidelity Digital Assets, which I know spans back farther than most institutional groups had even considered labs themselves. So, we'd love to kick off with maybe some of your educational background, sort of the rise to this position, and then we'll segue in and out of how Fidelity Digital Assets is positioned today and what you're thinking about today. So, we have a lot to co
Thu, October 27, 2022
Modernizing The Capital Raising Process With DealMaker’s Mat Goldstein
Raising capital can be a tedious process, even after investors have agreed to commit capital. This realization was the catalyst for experienced Bay Street lawyers Mat Goldstein and Rebecca Kacaba launching DealMaker—a digital transaction management platform that provides a seamless, headache-free investor experience. Since the platform’s inception in 2018, companies of all sizes have used DealMaker to launch and market their offerings to investors across the globe. In this episode of The Modern CFO, Mat talks with host Andrew Seski about the future of digital capital formation and what sets DealMaker apart from other cloud-based platforms offering capital raising solutions. Show Links Check out DealMaker Connect with Mat Goldstein on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello everyone and welcome back to The Modern CFO Podcast. As always, I'm your host, Andrew Seski. Today, we're joined by Mat Goldstein, co-founder of DealMaker. Mat, thanks so much for being here. [00:00:20] Mat Goldstein: I'm delighted to be here. Thanks, Andrew. [00:00:22] Andrew Seski: So before we kick off, let's talk about DealMaker and what it is. What does it mean to turn a simple capital raise into e-commerce? [00:00:30] Mat Goldstein: Yeah. DealMaker, first and foremost, is a technology company. Our platform is used by issuers. You know, think, when I say "issuers," think "founders." You know, companies who are raising capital, who are looking to solve an age problem of how to engage with prospective investors and turn them into a source of capital. Using our software, an entrepreneur can start an online store and run a full e-commerce campaign, identify leads, create a relationship with a community, engage with that community to turn it into a source of capital, and rely on the analytics, payment processing, and full set of functionalities you'd expect in a Shopify store. You can leverage that for a capital raise campaign. So that's what we mean by turning raising capital into e-commerce. It means using the internet as your medium of sale and using the tools of e-commerce to identify an audience, engage with it, and turn that into a source of capital. [00:01:38] Andrew Seski: So let's talk about how yo
Wed, September 21, 2022
The Product Manager CFO with Marcum LLP’s Jack Boyles
Financial management can make or break a business. Any business undertaking attempted without taking cost drivers, growth prospects, and value realization goals, among other critical factors, into account is leaving a big, wide door open to problems. Jack Boyles, Managing Director at Marcum LLP, understands this perfectly well. With his extensive experience in financial planning and modeling, valuations, and funding strategies, Jack keeps a trained eye on both the micro and macro factors that influence today’s rapidly evolving financial services sector. In this episode of The Modern CFO, Jack talks with host Andrew Seski about critical factors to consider for growing companies, how he deals with the unexpected, and the valuable lessons he learned over his 25-year-long career as founder, investor, and CFO of several companies. Show Links Check out Marcum LLP Connect with Jack Boyles on LinkedIn or via email Check out Nth Round Connect with Andrew Seski on LinkedIn Transcript Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only. [00:00:00] Andrew Seski: Hello everyone and welcome back to The Modern CFO podcast. As always, I'm your host, Andrew Seski. Today, we're joined by Jack Boyles. Jack, thank you so much for being here. [00:00:19] Jack Boyles: Thank you. I'm looking forward to our conversation. I reviewed a number of your other podcasts. They're all great and I learned something in each one. [00:00:25] Andrew Seski: So today, Jack serves as CFO at Marcum. Jack's based in Boston and has been a CFO across a number of industries and is insatiable when it comes to learning new things, trying new industries. [00:00:38] But one of the things that we've been talking about, maybe ad nauseam, but between us is the idea that maybe there is a certain time and place where CFOs can have their biggest impact at, you know, either a type of financing, an industry, and maybe CFOs shouldn't necessarily grow across all stages and all different types of industries. Maybe they should be specialized and maybe there is a time and place for that CFO who can drive the most value. [00:01:05] So this is a topic I really want to dive into and really dig our teeth into because Jack has such a unique vantage point, serving his entire career really
Tue, September 06, 2022
Centralizing Software Solutions for CFOs with Sudozi's Rose Punkunus
Finance and accounting processes are vital elements of any business. In many cases, business leaders expect the finance and accounting department to run as smoothly as possible to ensure that payments are processed swiftly and reports are made on time to gather insights and inform decision-making. But what if there was a way to improve the efficiency of these vital business processes? That’s exactly what Rose Punkunus set out to do with her seed stage startup, Sudozi — a software platform designed to help finance and accounting teams automate workflows, keep track of vendors and budgets, and improve financial decisions. In this episode of The Modern CFO, Sudozi Founder, CEO, and CFO Rose Punkunus talks with host Andrew Seski about her experience starting her own firm—a software platform designed to help finance and accounting teams automate workflows, keep track of vendors and budgets, and improve financial decisions. Show Links Check out Sudozi Connect with Rose Punkunus on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn
Wed, August 17, 2022
The Business of Sports with Rachel Pearcy of the WNBA Dallas Wings
There’s more to your average sports game than meets the eye. It takes a dedicated team working off the court to prepare for each game and ensure fans show up and players are paid their due. These and more are matters in which Rachel Pearcy, Senior Vice President and Chief Financial Officer of the WNBA's Dallas Wings, is an expert. Drawing from her college athletics experience and history working in the power sports industry, Rachel works tirelessly behind the scenes to ensure strategic growth for Dallas Wings season after season. In this episode of The Modern CFO, Rachel talks with host Andrew Seski about what it’s really like managing a professional sports team as well as how she keeps herself and the organization grounded in pursuit of success. Show Links Check out Dallas Wings Connect with Rachel Pearcy on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn
Tue, July 26, 2022
Evolving Against Sea Change with CFO Lee Westerfield
The challenge of a CFO’s role is more than just being the pillar of confidence and stability in any organization: their hands are on the financial tiller. They must be the cornerstone that a CEO can draw confidence. Whether navigating downturn conditions, balancing your company’s runway with its growth, or keeping your team strong despite the competitive hurdles, they must always be on deck. These and more are matters in which Lee Westerfield - Chief Financial Officer, strategic financial advisor, and Columbia alumnus - is intimately experienced. With his depth of insight and his passion for knowledge, he keeps both eyes on the ever-shifting horizon of success in today’s economy. In this episode of The Modern CFO, Lee talks with Andrew about how things never really change, and why staying committed has kept him both competitive and successful. Show Links Connect with Lee Westerfield on LinkedIn or via email Check out Nth Round Connect with Andrew Seski on LinkedIn
Bonus · Tue, June 28, 2022
The Dynamics of Scaling with David Magerman
In this special episode of The Modern CFO, Andrew Seski sits down with David Magerman, renowned computer scientist, investor, and current co-founder of Differential Ventures. During the mid-90s, David was at the precipice of quantitative investing—parlaying his revolutionary research at IBM into joining mathematician Jim Simons at Renaissance Technologies. David’s story is fascinating. For this episode, you can watch the full conversation on Vimeo and YouTube, or listen to the audio version as usual. Enjoy!
Tue, June 14, 2022
Revenue Leadership Strategy in a Digital World with P. Cory Hogan of Lob
Navigating today’s digital world is daunting, especially for businesses. There’s no shortage of tactics to leverage–emails, blogs, videos, webinars, podcasts, ads–and a seemingly endless supply of apps and platforms to execute those initiatives. So, how do you break through the noise and get your company noticed? For Cory Hogan, CRO of Lob, the key is revenue leadership. Whether you’re helping build a community for your employees or offering potential customers a personalized ad experience, your job as a leader is to meet people where they are. And taking a unique approach might just help push your brand over the top. In this episode of The Modern CFO , Cory explains how Lob is connecting the digital world with the physical one, what it takes to provide the right environment for hybrid employees, and the strategy of today’s CROs. Show Links Check out Lob Connect with P. Cory Hogan on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 7:15 – Cultivating an entrepreneurial, organizational spirit The ambition and motivation that comes with being an entrepreneur have been a part of Cory’s DNA since childhood. “I can't take too much credit again for any of that success. Right place, right time is definitely a theme in my career. I think there's a lot of people who are both harder working and smarter than I am and have, or have not, had those types of events and exits in their own past. I am, to your point though, risk-loving. For better or for worse, I think that appetite and even that desire to go and find increasingly risky but exciting opportunities has just always driven me. Whether that was like, ‘Hey, I'm going to start this little company. I don't know the first thing about what I'm doing here, but this sounds like a really exciting opportunity.’ The ambition that comes with it; the motivation has always just been part of my DNA. I can tell you childhood stories of going around town and picking up rocks, throwing them in my wagon, and selling them door to door believing that somebody would buy them. That level of entrepreneurship and ownership and accountability that comes with the risk side has just always been part of who I am.” 9:17 – Making the most of your ad spend At Lob, the goal is to connect the digital world with the physical one through a tech-first approach to marketing. “Our mission, at the highest level, is to connect the world one mailbox at a time. The premise is in the digital world the most powerful connections can be found human to human or on the physical side, even within the mailbox. Both modern marketers and their audiences, are getting satura
Tue, May 17, 2022
Web3: Exploring the Blockchain-Backed Frontier with Alchemy’s Head of Finance, Gabe Avins
Built on the back of blockchain technology, token-based economics is creating a new kind of environment. This internet evolution–Web3–is being spearheaded by new technologies, NFTs and cryptocurrencies for example, and the people that design these new applications. Gabe Avins, Head of Finance at Alchemy, is helping to enable this shift by empowering developers to build power blockchain applications. In this episode of The Modern CFO , Gabe dives into the future of blockchain development, how startup CFOs can thrive, and how to build a winning team. Show Links Check out Alchemy Connect with Gabe Avins on LinkedIn or Twitter Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 2:56 – Determine long-term value Understanding risk and reward is an intangible skill. You have to be able to make decisions based on what provides long-term value to the company. “Coming out of undergrad, Bain was a great place to develop some of the most core, underlying business frameworks and ways to think about business growth. I went from there to a private equity fund called TSG Consumer Partners, [which was a] really valuable learning experience where I think one of the skills that I picked up there was the ability to understand value. What drives value for companies, why companies are valued the way they are. That lens is how I approach many decisions on a to-the-minute and daily basis where I'm always trying to think big picture. Is what I'm doing today impactful to the business’s long-term value? And if it's not, and that’s somewhere where I find that I'm spending a lot of time working on something, it’s probably a good candidate to be on the chopping block and to spend less time there.” 6:18 –The best teams are flexible You have to be flexible when you’re working in a small team because there are a lot of gaps. Everyone has to be willing to roll up their sleeves to get the job done. “As I was interviewing with Alchemy, it was kind of funny, reflecting on it recently that I would show up to an interview and someone would say, ‘Hey, what we really need help with is X.’ And I'd show up to the next interview and someone would say, ‘Oh, what we really need help with is Y.’ And then Z, and then A and B and C. Startup life, when you're that few people, it really requires a mindset of, ‘I'm going to roll up my sleeves and do whatever I can to help the team.’ Because teams that are that small can be fragile. If there's infighting, if not everyone's carrying their weight, that can slow the team down a lot. T
Tue, April 26, 2022
Venture Debt: The Alternative to Equity with James Turner of 5th Line Capital
Many early-stage companies leverage equity when fundraising after considering certain risk profiles and limited liability to the founders. Though, in unique and more regularly-occurring situations, there are other options to consider. If you’re looking for capital but don’t want to raise equity, James Turner of 5th Line Capital recommends looking to venture debt instead. Venture debt is a type of debt financing for venture-backed companies that helps them fund their businesses without diluting capital through an equity raise. While some venture debt has a higher interest rate than a bank like SVB, it likely won't be as expensive as the equity. In this episode of The Modern CFO, James explains the mechanics of venture debt, when to use it, and how to be more strategic overall with your capital. Show Links Check out 5th Line Capital Connect with James Turner on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 5:54 – The best time to raise venture debt Knowing when to raise venture debt can be a challenge. The best opportunity for companies is when they’re in between major equity events. “If you're a CFO and you're not one hundred percent well versed in a venture debt market, or this isn't something that you've done very recently, that can mean 30-40 names you have to shoot a ton of emails to. You have to disclose all your documentation, [and] make a bunch of phone calls to handle preliminary diligence processes. A good chance for them all to come back and say, “No.” So, I'd say the opportunity that we've identified as a result is that we know who fits where. It used to be, if you were a SaaS company, and you raised money from a big name VC or any VC really, you knew who your options were. But that was the only time you could really go raise venture debt. So where we actually see the greatest opportunity in the clients we work with is they’re most of the time in between major equity events.” 9:40 – When to use venture debt As your company grows, venture debt will be more available. Once you hit the $2 million ARR threshold, more venture debt opportunities open up. “If you're a traditional business-to-business SaaS company–you've hit all the metrics, and have a decent retention margin. You can still be cash burning, but annual contracts, things like that, the bread and butter stats–At the earliest stages, at maybe $500,000 a year or so, if you don't have a robust capital need, there are early-stage SaaS financing options that have popped up. A lot of them are platform-based like a Pipe or Capchase. (consider linking) But once you hit around th
Tue, April 12, 2022
Navigating Life as a Startup CFO with Melinda Smith of ChaosSearch
The route to transitioning from “Big 4” accounting to early startups is not always a natural transition, but for that exact reason–and more–Melinda Smith is one of the most unique CFOs we’ve had on the podcast. She demonstrates how to best leverage practical, financial, and technical skills into emerging firms like she has done in the past at now-massive companies like Venmo. On this episode of The Modern CFO, Melinda shares her insights on driving culture, building a strong finance team, and what it means to be a custodian while raising venture dollars. Show Links Check out ChaosSearch Connect with Melinda Smith on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 5:21 – Your team is your foundation While most CFOs are thought of as the public face of the finance team, they are also an extension of the firm's culture and mission. At startups, CFOs tackle some of the most important functions in the company, including hiring. “I think, from a leadership perspective, building the team is one of the most critical things in an early-stage business. It's also true of a finance team inside of an early-stage business. Rapidly realizing that the experience matters of people you bring onto your team, the training matters for building and growing your team. It's the energy as a leader that you put behind building the business–building something, partnering with the team, and providing those operational insights and the custodian of where that investment is going–that really helps motivate and drive and, ultimately, retain a great finance team.” 6:18 – Drive the culture of your startup As CFO, you are a key driver of the company’s culture, especially in the early days. Make sure you are in alignment with what the founders and CEO want that culture to be. “In my experience, I've found that the CFO at an early-stage company has a lot of responsibility for some of the more traditional human resources functions. I have been in a role where I have some HR support, but I am also driving a lot around the culture. I think it's really important to be true to the founders and the CEO to some respect–maybe the founder/CEO and how they want to drive the culture of the business–but ultimately in a startup, you just have naturally that energy of a team and the passion of a founder that you can get behind.” 12:42 – Timing is important In a young organization, timing is everything. Each business has a different trajectory, so you can’t rush the growth process. “The experience that I have gives me a good perspective on where
Tue, March 22, 2022
The Importance of Company Culture with Tim Brown of Dakota
Culture is the core of every company, but keeping it consistent isn’t always easy, especially in an increasingly remote-first world. On this episode of The Modern CFO, Tim Brown shares how Dakota prioritizes culture-building and why CFOs should think about the more permanent changes brought on by the pandemic. Show Links Check out Dakota Connect with Tim Brown on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 5:54 – The pandemic caused a shift in business practices for sales professionals Travel and in-person meetings halted during the pandemic, which meant investment sales professionals had to find other means to connect quickly. “When the pandemic hit, all that changed. Travel was essentially halted for quite a period of time. People were not taking in-person meetings. The vast majority of people were not working in offices, and it just required a very quick, fundamental shift in terms of how you could continue to be effective in that role. I think our team adapted really well, the industry adapted really well–as did a lot of industries. You can't meet live, you meet over Zoom, you meet over some of these other means where you cannot be in the same location, but still have effective discussions. Certainly, it's an adjustment. If you've spent your entire career on the road, and then all of a sudden you're not able to do that, that’s a pretty significant adjustment. I think the software side of our business actually gave us a little bit of a tailwind. Dakota Marketplace was a means that could help bridge that gap between what investment sales professionals were used to, to what the current situation was.” 8:07 – Lead with culture during the hiring process It can be challenging to maintain a consistent culture, especially through periods of growth. Transparency into the important parts of your company culture during the hiring process helps build a strong, well-aligned team. “Culture has always been very important at Dakota. When I joined about four years ago, there were roughly 10 people, many of whom had been at the firm for quite some time. It was very evident from day one what that culture was. As our business has started to grow, we doubled the size of the team in the last 18-24 months. So, coinciding with the pandemic, it's been very important for us to not only formalize or write down, for lack of a better term, what those cultural components are (as opposed to just people understanding what they are), but to lead with [the cultural components] during the hiring process. I think each firm will h
Fri, December 10, 2021
How Gemini's Jared Shaw is Solving the Cryptocurrency Distribution Problem
Jared Shaw didn’t take the traditional path to the financial world. When his classmates were starting prestigious internships, he joined the military and gained valuable leadership skills. Today, Jared is focused on solving problems: specifically, solving the distribution problem in the world of cryptocurrency. As the Head Of Finance at Gemini, Jared is deeply embedded in the frontier of crypto and digital assets. Gemini’s goal is simple yet ambitious: create a platform so secure and accessible that everyone will feel comfortable adopting it, no matter their age or background. On this episode of The Modern CFO , Jared explains how he fell down the crypto rabbit hole, what’s so different about Gemini’s approach, and why every company needs a digital asset strategy. Show Links Check out Gemini Connect with Jared Shaw on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 2:57 - Jared’s path to crypto When Jared joined Ernst and Young’s San Francisco Bay Area consulting division, he began to encounter startups who were disrupting the traditional financial services industry. “I was helping financial services firms stay out of trouble. Banks, broker-dealers, insurance asset managers were all coming out of the financial crisis. Everyone was dealing with regulatory pressure, and so there was a lot of work helping them stay out of trouble. I started doing that in the San Francisco Bay Area, and shortly thereafter in the 2014-2015 timeframe FinTech really started to emerge. And being in the Bay Area, I was geographically fortunate to be able to focus on that sector and help EY build out its FinTech practice and approach. That was tremendous. Being able to just run around Silicon Valley and meet with all these great emerging startups that were really trying to disrupt the traditional financial services industry. And that's what got me first thinking about how can I work in a financial career, but maybe a little bit differently than the traditional path? And then that largely turned into cryptocurrency emerging in 2017. And in 2018, I did a large consulting engagement for a couple of crypto firms. And then, as everyone who gets involved in crypto, I fell down the rabbit hole and knew this is what I wanted to do with my career.” 8:00 - Learn to navigate ups and downs Whether you work in a new environment like the crypto space, a startup, or a large company, you need to be prepared to ride the wave of disruptive technology. “We've grown 2x in our headcount over the last year. And with that, we're still all wearing many hats. And so the day-t
Tue, November 09, 2021
Tapping into The Power of Crowdfunding with Woodie Neiss of GUARDD
In 2012, Woodie Neiss was a CFO and entrepreneur who was seeking to change the rules of the investment game. When President Obama signed his crowdfunding bill later that year, it opened a whole new world for individuals to participate in the private capital markets. Today, the crowdfunding industry has surpassed $1 billion in funding and takes place almost entirely online. Woodie continues to empower entrepreneurs through his latest venture, GUARDD, where he automates the process of ensuring audited financials with the goal of creating a more liquid environment for private company founders and shareholders. He is a vanguard of empowering founders throughout the lifecycle of their businesses from fundraising to exit. On this episode of The Modern CFO , Woodie shares how he architected the roadmap of Regulation Crowdfunding (Reg CF), what is so powerful about crowdfunding, and why one-size regulation does not fit all. Show Links Check out GUARDD Connect with Sherwood (Woodie) Neiss on LinkedIn or Twitter Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 2:30 - Tackle outdated investing laws In his early days as an entrepreneur, Woodie was frustrated by the inability to tap into individuals as investors, like his large customer base. “I had started a company with my brother-in-law called Flavor RX. We flavored medicine for children so they’re more compliant. The coolest thing about our company was a mother got her kid to take her medicine by going into the pharmacy and asking pharmacists to flavor it. The kid took the medicine and she's like, ‘Oh my God, you just saved me countless hours of struggling.’ I would get a phone call the next day: ‘How do I invest in your business?’ I thought, well, you can't because we can only raise money from accredited investors. When my lawyers told me this, I knew this was a complete missed opportunity. I have hundreds of mothers calling me saying, ‘How can I become an investor in your business?’ They can be a marketing agent for my company. Why can't I take money from them? These laws were written 80 years ago to protect retail investors, and you have to live by them. I thought was stupid.” 3:53 - How the crowdfunding bill was signed Woodie and two friends from business school ultimately drafted a new framework for Reg CF. President Obama signed it into the Jumpstart Our Business Startups (JOBS) Act in 2012. “We wrote this eight bullet-point framework for investment crowdfunding. We went
Thu, October 21, 2021
Exploring Secondary Direct Investments with Andrea Walne of Manhattan Venture Partners
With an abundance of capital chasing a limited number of opportunities, one unique entry point for investors is in secondary direct investments. Secondary opportunities consist of buying shares in private, pre-IPO companies directly from employees and investors versus the traditional route of participating in the next round of fundraising. Andrea Walne is at the center of this world at Manhattan Venture Partners (MVP), where 80% of their investments are in late-stage companies by buying secondary investments. Andrea and her team are focused on tapping into the value that already exists. Formerly a founder of Forge Global, Andrea has worked with over 100 late-stage private companies and has facilitated over $10 billion worth of transactions. On this episode of The Modern CFO, Andrea shares insights on this growing market segment in VC, its evolving landscape, and the opportunity for liquidity it presents. Show Links Check out Manhattan Venture Partners Connect with Andrea Walne on LinkedIn or Twitter Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 3:20 - Build a secondary position Instead of fighting to issue a term sheet and compete with late-stage investors, MVP uses its network of relationships to enter a business at the ground level. “We're on our fourth fund right now. With our strategy, it allows us, strategically, to pinpoint how we want to enter a business that we're interested in. When I say enter a business, we're not fighting to issue a term sheet and compete against other late-stage investors to lead a round of funding. What we are doing is generally considered “friendly” to many of our counterparts in the late-stage venture community, because we are figuring out a price point and identifying, by way of our network, (who all knows the partners of our firm really well by way of our experience); We find our way in with a certain price point and we're able to dollar cost average and choose that building of a position by way of the secondary. So, it's pretty awesome. It allows us to choose what valuations make the most sense for us.” 6:33 - The changing environment of common stock Common stock used to be considered a risky business. Today, it’s easier to assess if a company—and therefore its common stock—is valuable early on. “I've never seen a world where a company can raise a round of funding and be a mid-stage or late-stage company. I do say mid-stage, because I think it's important. A company will raise a round. It's typically oversubscribed—most companies are raising oversubscribed rounds. There's a ton of c
Tue, October 05, 2021
How to Find Your Niche as an Emerging VC with Jeremy Baksht of DataFrame Ventures
Jeremy Baksht has a rich history in finance, from banking at J.P. Morgan to several entrepreneurial ventures. His specialty is data and FinTech, and his newest company is DataFrame Ventures. Over the years, Jeremy has learned that he has a good eye for investing and generating LP interest in his niche. In this episode, he talks about the importance of generating interest, curating a funnel, and deciding what type of CFO you want to be in today's ever-changing environment. Show Links Check out DataFrame Ventures Connect with Jeremy Baksht on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 2:53 - Invest in high-margin, repeatable businesses Early in his career at J.P. Morgan, Jeremy saw companies getting out of investments in businesses with poor margins. “You typically want to be in that high-margin, repeatable business and get out of the clunkier businesses. So every time I talked to these businesses, they all wanted to know, what do you see in IoT? What do you see in sensors? What are you seeing in clean-tech? And even though I hadn't been an investor personally at any stage in this formation, I kept coming back to tech and data, SaaS. These are all changing the world, they are the highest multiple companies. Whether they're B2B or B2C, you have to get into these businesses. Coming up with ideas is hard, but seeing what was happening in capital markets in the early 2010s, some colleagues and I from Citi joined up with one of their former colleagues and we created a private markets exchange.” 6:15 - The value of automation When Jeremy set out as an entrepreneur, the best advice he received from CEO Peter Williams was to look for ways to streamline clunky processes. “The first step was automating a process. When you see a process that has very repeatable patterns yet involves a ton of people, it doesn't often make sense to have all those people involved. Whether you're a real estate broker or private placements broker, you're just thinking about if you could map all the funnels of the 20 things you need to know, maybe some offering documents, and put all the investors or interested parties in one place, and then, hopefully, they can transact in a more automated way. So, I think step one was recognizing there was no leap of faith there. You have all these people and an expensive, clunky process. Can you automate that? That really spoke to me.” 8:40 - Get people to show up When you deal in marketplaces, you need to generate interest and demand. That’s what led Jeremy to focus on access to Series A and B companies early on.
Wed, July 14, 2021
How Oslene Carrington is Expanding the Global Angel Investment Community with a New Network Focused on Prosperity in the Caribbean
Invest in people. Easy, right? While more money than ever is being deployed around the world into new ventures, Oslene Carrington is leveraging her own entrepreneurial experience to ensure entrepreneurs in Guyana and the Caribbean have access to financing as well. Oslene is not one to wait around for change to occur. She decided she would create her own community of angel investors. By expertly explaining the risks of financing innovation abroad, especially at the angel stage, some of that risk is mitigated by tapping an angel network with first-hand experience within these unique cultures and landscapes. With the Caribbean Diaspora Angel Investor Network Trust and !nnovate Guyana, Oslene is accelerating the trends of access and democratization of private markets with a veteran approach. Show Links Check out !nnovate Guyana Check out The Caribbean Diaspora Angel Investor Network Follow !nnovate Guyana on LinkedIn or Twitter Connect with Oslene Carrington on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn Key Takeaways 3:45 - Fostering and funding great ideas from home Oslene traveled home to Guyana and witnessed some innovative business presentations. When she realized those great ideas would need greater support to develop, she started a program to award capital to the most viable ones. “I happened to be at home in Guyana at one point visiting five years ago and was at the university there where I have friends and saw some really amazing things happening in terms of innovation. Like a lot of universities, they have these annual presentations of student research conferences...I had experienced doing startup programs and finding funding for them, and commercial relationships with the private sector and with the academic environment and so on and so forth. And so it just clicked for me very easily to create something. And so what was born from that is something called the Guyana Innovation Prize, which is like an MIT prize or any of these other university-based prizes where I go find money. I find capital. Either initially as donations, we started out and in many ways still are a philanthropic endeavor, and find capital and match those up with great ideas. And so annually, we have a competition and the funding is awarded to the best commercializable ideas.” 5:53 - The angel of the Caribbean Oslene’s second major venture was founding the Caribbean Diaspor
Tue, June 29, 2021
Creating a New Future in Venture Capital with Aman Verjee of Practical Venture Capital
Realized returns on investments for venture capital funds used to happen within three to seven years. Now, the biggest companies are extending funds to 15+ years—and investors are getting impatient. This could dampen venture capital as an asset class, but not if Aman Verjee can help it. On this episode of The Modern CFO , Aman discusses how Practical Venture Capital is creating a secondary market from VC funds, how faster liquidity will keep VC relevant, and how his experiences at PayPal, eBay, and 500 Startups resonate with modern CFOs. Show Links Check out Practical Venture Capital Follow Practical Venture Capital on LinkedIn or Twitter Connect with Aman Verjee on LinkedIn or Twitter Connect with Andrew Seski on LinkedIn Key Takeaways 02:59 - A new application to a new asset class Practical Venture Capital (PVC) focuses on venture capital secondary, buying LP and GP interests in early-stage venture funds, and direct secondary in breakout portfolio companies. “It's not a new idea, but it's a new application to a new asset class. I think in venture, there wasn't a need for secondary markets, even up to 2005, 2008, 2010. I was at PayPal early. I joined in 2001. That company went public in four years, from founding all the way to the IPO. Yahoo, Amazon, and eBay were all four- to five-year exits. So, there was not a terribly long time to get your money back. The biggest IPOs, now, in the venture community are: Airbnb, which took 15 years and counting to get their liquidity. Palantir was 17 years and counting. All the biggest companies now are taking much, much longer to get their money back. So, there's much more demand on the investor side for that kind of liquidity, around year 8, year 10, year 12, and year 15. That's a fairly new phenomenon, taking place over the last 10 years. That's what we’re capitalizing on.” 20:49 - Three functions of the modern CFO According to Aman, the modern CFO has an accounting function, a treasury function, and a data analytics function. “There's the traditional [function], or the accounting function, which is really about understanding and applying accounting principles, backward-looking, making sure stuff gets done, operational, and that communications infrastructure is running well. That is one job. And it's a big one. That's the digital controller function. And that's always been part and parcel with the finance function and will never go away. There's increasingly another aspect around treasury a
Tue, June 15, 2021
Curt Sigfstead on how Clearco is helping to revolutionize how founders raise capital
The heyday of Main Street is over. The spotlight now shines on Digital Street. Curt Sigfstead has been long drawn to the power of entrepreneurs and the opportunity they present to transform the world. After leading the prominent West Coast technology investing division at JP Morgan, Curt joined Clearco. Clearco is at the forefront of digital growth, where they are busy building out the capital infrastructure for the internet in the realm of embedded finance. Working with digital founders, software platforms, and financial institutions, Clearco is helping to revolutionize how founders raise capital. Show Links Follow Clearco on LinkedIn or Twitter Connect with Curt Sigfstead on LinkedIn or Twitter Connect with Andrew Seski on LinkedIn Key Takeaways 1:44 - Providing capital based on data Digitally-founded businesses often don’t have the traditional assets required to raise capital. By providing capital based on more diverse factors, Clearco is serving a new, data-driven market. “It means that we can, in a very innovative way, provide capital, provide advice, provide benchmarking, provide a means by which entrepreneurs can improve their business with capital by using data. That's an important core of our business; our ability to leverage third-party data sources to create a modern finance platform that can serve these digital founders. As you were getting to Andrew, [Clearco is] serving what is a global transition from Main Street to Digital Street. And as more and more businesses are founded, at least initially, online--as businesses become less and less geographically constrained--they don't have the aspects that typical financing institutions like banks or credit unions are looking for. They don't have collateral. They don't have inventory. They don't have the assets. But they do have a lot of data. And their data is very revealing with respect to how the business is performing, what the opportunity is for that business. So, what we found is this vast, global underserved market.” 3:32 - Helping entrepreneurs retain ownership As a rule of thumb, entrepreneurs don’t want to give up equity. Clearco gets that, helping businesses get off the ground by focusing on repeatable processes. “So we're part of a spectrum. We're not in the business of competing with venture capital or with seed investors or with friends and family. We're in the business of being a complementary po
Tue, May 25, 2021
Brian Hughes on why the best CFOs follow the Boy Scout motto: Be Prepared
Looking for a long-term view of what it means to be a good CFO? Brian Hughes is a retired partner of KPMG and an experienced advisor to public VC- and PE-backed portfolio companies. His perspective spans an entire career of public and private market transactions, overseeing multiple market cycles--like the dot-com bubble and the 2008 recession--and becoming acquainted with the needs of companies through different life cycles. He is uniquely positioned to deliver a holistic picture of our current environment and provide advice to financial leaders. On this episode of The Modern CFO, Brian advises CFOs to plan ahead--not just for internal organization, but for future macroeconomic shifts. As he sees it, a modern CFO needs to ensure the financial plumbing of an organization is not just working, but safeguarded for what lies ahead. Show Links Connect with Brian Hughes on LinkedIn or Twitter Connect with Andrew Seski on LinkedIn Key Takeaways 5:09 - Understand the CFO role In Brian’s view, the most important job of the CFO is being a great partner to the CEO. The second job is to be strategic, collaborative, and adaptable. “Number one, you know, I think if you're a CFO in a company you've got to understand what your role is. And there's a lot of different things, but I think being the CEO's trusted business partner is probably by far one of the most important things that you can do as a CFO. And you need to really establish that on day one because that's the individual that's helping set strategy and direction. At the same time, I think you also, as an individual, you need to be aware of sort of what your strengths and your weaknesses are, which will dictate the type of CFO you're going to be...I also think that today's CFO needs to be more strategic in their thinking. It used to be that you were the numbers guy and you put together the financial statements. Now it's really how do you make the numbers come alive and really tell the story of the company in terms of their operations, the metrics and the KPIs. And also, it used to be you thought about the CFO just within the financial function. I think it's also extremely important now for the CFO to really get outside of their swim lane and really become more cross-functionally across the organization, supporting all the different functions that help a company operate.” 7:28 - Gain the trust of investors and stakeholders A good CFO isn’t just savvy internally. They have the confidence and ability to communicate with external partners, such as investors and board members. “The other part of a CFO is again it's multi-faceted. And you obviously need to not only have the
Tue, May 11, 2021
How Dave Monahan used transparency to redefine the dental care marketplace
What do Microsoft and a dental care marketplace have in common? Plenty, if you look at it from the inside-out. Dave Monahan, CEO of Kleer, got his entrepreneurial training at Microsoft, where he learned how to focus on solutions, build transparency, and innovate faster. Today, Dave is building a pandemic-proof culture at Kleer, a dental care marketplace aiming to replace inefficient insurance plans. In this episode of The Modern CFO podcast, Dave and host Andrew Seski talk about the benefits of transparency, where to look for product data, and how Kleer survived COVID-19. Show Links Check out Kleer Follow Kleer on LinkedIn or Twitter Connect with Dave Monahan on LinkedIn Connect with Andrew Seski on LinkedIn Key Takeaways 4:22 - Microsoft-made entrepreneur In his first year at Microsoft, Dave learned from CEO Steve Ballmer how to stay solution-focused. “The person running that area asked me to present the first 10 minutes of the presentation... when I was done, [Steve’s] first words to me were, ‘I hated that presentation.’ I’m in front of Steve and his leadership team and all the leaders of the group I just joined. And so he goes, ‘let me tell you why.’ And he said, ‘you presented a number of problems. You did not give me any solutions.’ I think I was 29 or so at this point. And then that one for me was, all right. I will never ever do that again. If I'm going to go into a presentation anytime and anywhere, and I am ever going to present any kind of issue or problem, I will not only have the solution, but I'll have the data to back it up.” 6:44 - A model of transparency Microsoft’s open-access information model encouraged responsibility and encouraged healthy risk-taking. “Transparency was critical to Microsoft's success. They shared everything. It was the first time I'd been in an organization where you could get information about anything within the company. It was very open. Like these presentations we would do - there was, I can't remember the exact number, maybe 30 or 40 subsidiaries in Microsoft - at the time I could go get ahold of all their presentations and look at all their data and the company would post results on a weekly basis. And you can dig in and take a look at it in as much detail as you wanted. With that transparency though, they're their team's responsibility. So they assumed, ‘okay, if you have all that information, I'm mobilizing you to do things and take risks.’ ” 7:35 - If you gotta fail, do it with data Microsoft’s corporate culture encouraged rapid experimentation backed by smart data to keep
Thu, May 06, 2021
How Summit’s Matt Wensing is challenging Excel spreadsheets and reinventing financial models
As a serial entrepreneur, Matt Wensing is no stranger to managing the day-to-day operations and growing pains of new businesses. However, he was surprised that his dependency on the same, stale spreadsheets hadn’t waned by his third venture. In 2019, Matt launched Summit to accelerate financial intelligence by replacing idiosyncratic, disparate spreadsheets with a collaborative modeling platform. His goal is simple: to create a forecasting platform that anyone, from CFOs to start-up founders, can leverage successfully. On this episode of The Modern CFO, Matt and guest host Stuart Balcombe discuss where Excel falls short and how Summit’s plug-and-play features are a leap forward in building companies within our globally connected world. Show Links Check out Summit Follow Summit on LinkedIn or Twitter Connect with Matt Wensing on Twitter Connect with Stuart Balcombe on Twitter Key Takeaways 1:12 - The question that started Summitt Matt was confident in his financial know-how, until he was hit with a question Excel couldn’t easily answer. “The simple question was: if your sales cycles extend from what they are today, which is approximately 30-60 days lets say to 90-120 days, what's that going to do to your business? What's that gonna do to your capital needs, to your hiring plan, etc? And I remember thinking, that's really smart. He's seeing a trend, which sales cycles are extending, and he's buying into it, which is what I want them to do as a founder. But he's then saying, ‘If that’s true, then what?’ I remember going back to my Excel-based model and realizing that in order to answer that question accurately, it wasn't going to be simple. I couldn't just delay receivables. I couldn't just change the pipeline. So many things about the business needed to change to capture that distended sales cycle. It occurred to me as I was going through that wow, this is an extremely painful, but extremely smart question. And it's kind of crazy that in order to answer this, I'm going to have to spend hours and hours back in Excel." 6:33 - Messaging that hits home Summit’s mantra is: speak quietly and carry a big message that pushes your users right where it (currently) hurts. “You are in a relationship with a tool that both simultaneously delights you and simultaneously frustrates and disappoints you. And in some cases betrays you when you want it to support you and have your back. There's this love-hate dynamic. And because of that, the H1 there says, ‘Tell your forecasting spreadsheet you're never getting back together.’ It's really directly appealing to
Tue, April 20, 2021
Why you need to liberate your data, according to Martin Chee of Amaka
Public practice accountant Martin Chee knows: no one likes wasting time on tedious data entry of the same numbers over and over again. That’s the gap he uncovered in the financial accounting industry — and the gap that his company Amaka fills seamlessly. Their accounting integrations software lets businesses capture their financial data and use it across all their systems, so there’s no double work. Martin talks with Andrew Seski of the Modern CFO podcast about the importance of data accessibility today and the evolution of Amaka, especially during an unprecedented pandemic, plus how parenting is good prep for running a business. Show Links Check out Amaka Follow Amaka on LinkedIn or Twitter Follow Martin Chee on LinkedIn or Twitter Connect with Andrew Seski on LinkedIn or Twitter Key Takeaways 5:04 — A really, really clunky process A great idea — like Amaka — always starts with a problem, in this case the overly manual, time-consuming, and error-prone process for exchanging financial information. “This process around organizing finance was really, really clunky and antiquated and just deeply inefficient, and effectively what it was, was the exchange of financial information. So, you want to borrow money for the business. You need to provide the business’s financials and a whole host of other documents and information...What a lot of banks were doing is, they'd consume that information in a really manual way. Like you would email them a PDF or worse still, you'd hand deliver documents to them and then they'd give it to someone else. And they'd be like keying in the numbers into this piece of software, which would then spit out a result. And it was just a really, really long, time-consuming process. And it was really error prone as well.” 10:42 — Same information, different systems Amaka was carefully developed to capture the myriad data points from a single transaction (date, time, price, cashier, etc.) so they can be used across all systems. “We definitely put a lot of work into architecting something that made it really easy to understand the same information, but in different systems. Take a sale, as an example, can you just talk about generic attributes of a transaction? You might have the date of the transaction occurred, the time when it occurred, the day that it occurred, the employee that was responsible for it, the value of the items, the discounts that were applied on it — yo
Tue, April 06, 2021
Cameron Hyzer of ZoomInfo on why CFOs are a critical link between growing companies and their investors
Cameron Hyzer is the CFO of ZoomInfo, a B2B database seeking to revolutionize the sales & marketing process. With over 2 decades of experience, Cameron is expanding the role (and importance) of CFOs in growing companies. Cameron joined me to talk about the evolution of today’s CFO, the best mentalities for success, and how ZoomInfo is changing go-to-market motions for good….even during a global pandemic. Show Links Check out ZoomInfo Follow ZoomInfo on LinkedIn or Twitter Connect with Cameron on LinkedIn Connect with Andrew on LinkedIn Key Takeaways 1:24 - The many roles of a CFO Numbers are just the start. CFOs are a critical link between growing companies and their investors. “I think the CFO's role is really being the steward of the company's both business model and capital, as well as the bridge between the management team and shareholders. As the CFO role has evolved over time, there is a lot that gets bundled into that. Everything from the ability to report and understand drivers of the business, to helping the management team itself improve and grow. As well as really working with the capital markets and various different transactions, whether that's acquisitions or sales or fundraising. And finally, making sure that investors understand where we're going and are excited about that.” 2:57 - Profits first Cameron cautions against losing sight of the basics, like profitability and shareholder returns. “ I do think that the transactional orientation of a CFO is really important: knowing what happens in an acquisition, whether you're acquiring or being acquired, understanding how to fundraise, and make sure that your capital structure is as efficient as possible…You don't want to be entirely focused on just capital structure and transactions, but that is ultimately what drives returns for shareholders. So having that point of view is important along with the ability to help the company grow and mature, making sure that you're making the right investments within the company to power growth or profitability over time.” 4:50 - Driving sales with better data Cameron’s company, ZoomInfo, provides in-depth data to give sales teams critical insights into potential leads. “ZoomInfo helps sales and marketing teams, and recently we've rolled out products to help recruiters as well, understand the world around them and their prospects and customers. We do this by gathering
Thu, April 01, 2021
How Mandeep Basra uses micro-lending at RentMoola to change the banking game
CFO Mandeep Basra joined RentMoola right as COVID-19 was declared a worldwide pandemic. Little did he know that the company would be quickly pivoting to help landlords and tenants by offering remote payment options and micro-lending assistance. This digital innovation is just what Mandeep thinks the world needs in order to serve sophisticated digital customers as well as support under-banked populations around the world. Show Links Check out RentMoola Follow RentMoola on LinkedIn Connect with Mandeep Basra on LinkedIn Connect with Andrew on LinkedIn Key Takeaways 3:30 - Keeping tenants safe During the pandemic, RentMoola worked with property managers to keep tenants safe by offering fully digital rent paying solutions. “It was interesting to see our customers thinking about their employees and wanting to keep them safe. A lot of our property managers who have tenants that were paying by cash or check, they wanted to stop that because they didn't know how the virus was going to spread with paper and whatnot. So what we saw was an increase with our property managers and our marketing team, working together to market our solution to their tenants. And saying how to keep us safe, keep yourself safe. What we're going to do is we're not going to accept any checks anymore for the time being, we're not gonna accept cash payments. What we're going to do is we're going to utilize this tool that we have in place with RentMoola and make sure that you're able to pay your rent without the risk of getting sick.” 7:29 - Micro-financing for renters No one should have to decide between paying rent or feeding their family. RentMoola solved this with a system of micro-financing. “There's right now, I believe there is 70 some-odd billion dollars in backrent that is outstanding right now for tenants, for apartment buildings and whatnot, condos. And what we've done, we've partnered with a few companies out there and we're offering kind of like a rent now and pay later solution. Where it's kind of like micro lending, micro financing, you can call it at 0% interest. So the tenants don't have to face any financial hardship in these times. And the property manager still gets paid. And there's no additional interest right now. It's a decision that people have to make. Do I feed my family? Or do I pay my rent is basically the state of the economy right now. So we're finding those kind of solutions to help our user base.” 9:15 - FinTech at the forefront Mandeep thinks that FinTech will explode over the next year, as legacy banks struggle
Tue, March 16, 2021
How Luc Jodet of Arianee embraces the future of finance through NFTs and blockchain technology
In 2013 Luc Jodet first heard of Bitcoin, and dismissed it as uninteresting. Fast forward to 2018 and Luc found himself co-founding Arianee, a company that is quickly becoming one of the most successful businesses in the blockchain world. Today, Arianee helps provide luxury brands with non-fungible tokens, or digital passports certifying the authenticity and ownership of high-value, one-of-a-kind products. We chatted about Luc’s journey to the blockchain world, how the technology works, and the type of projects Arianee hopes to spearhead in the future. Show Links Check out Arianee Follow Arianee on LinkedIn Follow Luc Jodet on LinkedIn or Twitter Connect with Andrew on LinkedIn Key Takeaways 2:34 - Creating digital identities There are three main reasons to create digital identities for physical products. “The idea is to create a digital identity for physical products. And we started with products of high value, in particular in the luxury industry. And there's really three reasons you're creating those digital identities. The first one is really it's a proof of authenticity, meaning it's a way to figure out that your product is actually real because it was created by, the passport was generated by the brand. The second one is a proof of property, it's a proof of ownership that is. Because it's really transferrable from one owner to the other. And the third one is really the history of the product. Because every time something happens to your product you can record, you can notarize a new event in the NFT or in the passport of the product. So it's really like a digital passport for your product.” 4:07 - A decentralized CFO For Luc, the role of CFO is expanded from the classic definition into one that encompasses the realm of decentralized finance. “Classically the work of the CFO is to manage. Then I'll do the bookkeeping and manage the books, measure treasury, have financing manage some of the, especially in the early startup managed a lot of the regulatory risks and in general deal with the corporate structure and how to manage this...Now we have an additional layer. Because of our blockchain and crypto infrastructure our architecture is that we have to deal with those crypto incentives and the life of a token. So the entire protocol is actually completely decentralized.” 6:41- Educating the world’s brands Several years ago, much of Arianee’s work was focused on crypto education. Today, executives are actively reaching out. “It's really like a
Mon, March 08, 2021
How John Collins of LivePerson operates as a data-driven CFO
John Collins is the CFO at LivePerson and the very definition of a modern CFO in every way. His career journey spans a job at the New York stock exchange, grad school at MIT, inventing a fully automated trading platform that he wrote from scratch, managing the portfolio for a 10 billion AUM fund, co-founding his own company, and joining LivePerson. As CFO at LivePerson, John is passionate about the role of data in the CFO world, the possibilities of “conversational commerce,” and the vision of combining algorithms and social justice. Show Links Check out LivePerson Follow LivePerson on LinkedIn Connect with John on LinkedIn Connect with Andrew on LinkedIn Key Takeaways John’s journey to LivePerson After getting introduced to LivePerson’s CEO Rob by chance, the compelling encounter led John to join the LivePerson team. “After I met Rob, he gave me his vision for LivePerson and how the company’s innovations are changing the way that we communicate and do business. And the value proposition really resonated with me on a deep personal and professional level. I mean, who hasn't experienced frustration waiting on hold or dialing 1-800 numbers to get some intent, some need resolved with the brand? So being able to send a message and then go about your day and feel confident that your need would be taken care of without putting you on the brand or the agent’s schedule is super compelling. And then leveling that up into what we call conversational AI and specifically conversational commerce was a really compelling vision that I was pretty sold on from the beginning.” Navigating data constraints John describes how the data that most companies collect is inherently messy. “I distinguish data from information. Data needs to be transformed in some way. It needs to be normalized. It needs to be cleaned in order to produce some kind of useful information for decision-making purposes. Many companies have a lot of data, but they have trouble accessing it. They have trouble reconciling. It's not clean, it's not reliable. I call these data constraints. And so there are many constraints you need to overcome in order to leverage data effectively.” Conversational commerce The future of commerce is conversational: two-way engagement that takes place on the customer’s terms. “LivePerson is really a cloud-based platform that the largest brands in the world use to converse with their customers through messaging...You can, let's say, change your flight, order a burrito, arrange contactless, commer
Wed, March 03, 2021
Kevin Appleby on the challenges facing new CFOs
Kevin Appleby helps run GrowCFO, a community and development resource for finance professionals. A PwC alum-turned instructor, Kevin realized that what CFOs really needed was a support system. He joined me on The Modern CFO podcast to talk about the challenges facing CFOs today, the importance of seeking out mentors, and how to embrace imposter syndrome by conducting thoughtful self-assessment. Check out GrowCFO Follow GrowCFO on LinkedIn Connect with Kevin on LinkedIn Connect with Andrew on LinkedIn Key Takeaways Kevin’s journey: from CPA to the classroom Kevin’s experience runs the gamut from CPA work to the chemical industry to working as a consultant for PwC. Ultimately he ended up in the classroom. When COVID hit, GrowCFO was the perfect segue. “I became a management consultant and ended up working for PwC, mainly doing finance transformation projects, my client would typically be the finance director, the VP finance, or the CFO and often working with his team trying to find information for the project. And I found over time there are lots of stuff that I knew the answer to, but the client's own finance team didn't. I ended up spending time in the classroom teaching a lot of that stuff.” Creating a dedicated CFO network Almost every industry has numerous networking and educational resources. Kevin saw that the CFO world was an exception. “There's nothing really out there for CFOs, senior finance people to communicate with each other and to help each other solve problems. There's plenty of space here to go to the big advisory firms, but nothing really here to allow CFOs to cooperate with each other and share learning.” Helping CFOs break through the glass ceiling A major challenge young CFOs face is breaking into the C-suite. GrowCFO helps prepare aspiring CFOs to succeed in the application process and beyond. “What we found was there's a big glass ceiling. It's very difficult to break through into the C-suite...95% of the roles out there are looking for experienced CFOs, right? How do you ever get through that? So we put together the Future CFO program. We've got it accredited for 40 hours of CPD, continuing professional development, and it takes you on a nine module or a nine-step journey between being a very good, very accomplished head finance professional through to landing your first CFO job, how to move into that job. And it finishes with creating the plan for your first hundred days in your new CFO role.” CFOs are asked to do it all New CFOs are often in for a rude shock
Fri, February 26, 2021
Hypertherm’s Rob Masson on navigating crisis with teamwork
Rob Masson is the CFO at Hypertherm, a 50-year-old company that is a leader in industrial cutting systems. He’s also a former Naval aviator who learned critical leadership skills firsthand. Rob joined us on the Modern CFO Podcast to share his unique perspective on management and the ways in which empowered, confident employees helped Hypertherm weather the COVID-19 crisis. Visit Hypertherm Connect with Rob on LinkedIn Key Takeaways Weathering COVID-19 The pandemic took an early toll on Hypertherm, but the company stayed true to its employee-centric values. “We suffered, you know, over a 30% loss in sales almost overnight in April, and that caused a whole chain of events...We're an employee-owned company. We all share in the success of the company. And so we're all committed to each other. We have a no-layoff philosophy. So a lot of the normal things you do in public company settings and others, we don't do. And we have a very strong passion for that. So we will cut costs. We're very aggressive with that. But in terms of commitment to people, we don't do that. We come together as a team and solve the problem.” Overcoming obstacles as a team Teamwork enabled Hypertherm to bounce back from COVID-19 amid global challenges. “It was quite a dramatic response from us internally to reset for the new norm. And then there were a lot of things on the capital structure side that we thought about with the treasury group and working with our banks, just to make sure we were secure from a cash flow and keeping that going...we serve some essential end markets. So we worked very diligently to keep our supply chain open, to make sure we had raw materials, stock, etc., since we source from all over the world. So it was really a team effort.” Crisis builds new muscles Once you go through a crisis situation, you are better equipped to face the future. “This year, actually, we really surprised the organization because our business came back quite strong and we really stepped forward and shared a lot of that profit back with our associates...When you go through crisis, you live through it, you gain new muscles. So I feel very confident. Hopefully we never have to face it again as a company, but we're now prepared more than we were prior. And I think we'd do even better the next time, just because of the response and teamwork of the company.” Navel experience in action Rob’s Naval background played a critical role in his ability to keep cool under pressure. “There's just a different experience you get as a Naval aviator than you get in other walks of life, and that's trained into you to compartmentalize and
Trailer · Wed, February 24, 2021
Welcome to the Modern CFO Podcast
Hello and welcome to the Modern CFO podcast. I'm your host Andrew Seski. Join me as I go behind the scenes with top CFO's to share the stories of how this pivotal role is changing in today's business climate. The full show notes and every new episode can be found at nthround.com/podcast .
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