So with everything that happened yesterday, I have some personal news... 🌴
A 🧵
After 4 years here, I’ve decided to stay at Plaid (and in SF) to grow the team and continue building the future of fintech. The news though is that I am doubling my team this year.
Going to celebrate by tweeting recruiting tips all week. Later today: how to encourage referrals!
Speaking of: yesterday's news has been a really boon to inbound interest! Thanks to everyone who got in touch, applied, and is excited about Plaid's path as an independent company. Excited to meet and interview you!
In the meantime, here are some reasons why you should join us:
Plaid is the infrastructure that powers over 4,000 fintech apps, used by millions of people today. You will be a part of building the open internet infrastructure that unlocks financial freedom for everyone.
73% of people say fintech is now the new normal - there’s no going back. The mainstreaming of fintech means more opportunities for everyone.
We have ambitious product plans this year; building a better, faster and more predictable platform is a goal and we need more people to help us do that. We have 10x the opportunities we have the capacity to solve. We need you!
Not all roles are listed right now but here’s a snapshot of what we’re hiring for right now. plaid.com/careers/ My DMs are open if you want to chat.
I promised threads about recruiting for the next week. Here's the first one on referrals. In growth/marketing speak: referrals are your organic growth, inbound is your brand, and outbound/sourcing is your ad spend. You want to growth-hack your referrals. Here's how. 1/n
2/ Referrals (people on your team referring candidates into your recruiting pipeline) is great because it scales with your org size. They also convert higher since one of their friends is trying to convince them to join, plus they are generally not interviewing at many companies.
3/ The main disadvantage is that they tend to re-enforce your current team makeup. So if you have a diverse team, referrals will continue that diversity, but if you do not, you'll be entrenching your existing makeups which can have some real cons.
Under-appreciated frustration of building an API product: feature adoption is much slower than for a UI product like Slack/Instagram. Even for your very satisfied customers.
Flip side: retention is much higher.
Here’s what I wish I’d known when I joined Plaid four years ago:
1/ If you have a UI product area, introducing a new feature or product is as easy as putting it in front of the user. You can email your customers, put a modal on startup (hi @onepeloton ), etc.
The user just clicks on the thing and voila they can use it and you get feedback.
2/ For an API product, it’s more complicated bc although you can do most of these things (email, dashboard promotions, etc.) to *tell* your user about the feature. Actual usage requires coding which requires engineers, and engineers’ work requires roadmapping. That takes time.