The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

Henrique Dubugras of Brex joins Nick to discuss the Blazing Fast Path to $B+; Binary Outcomes; The Fintech Revolution; and A New Approach to Employee Comp. In this episode, we cover:

  • Background -- path that led to Brex?
  • Origin story for Brex Tag-line / One sentence overview
  • What's so different about Brex?
  • Why is more than just a credit card?
  • How has the pandemic affected the business thus far?
  • What do you offer that no one else does?
  • Who do you consider to be competition?
  • What is the moat here - why can't another well funded startup replicate your offering?
  • A criticism I've heard is that, when businesses need credit most, when bank balance/working capital is low, is when Brex cuts off access to credit. What's your response?
  • How would you describe your leadership philosophy?
  • Are you recruiting/hiring? Is the approach different while 100% remote?
  • What's the compensation structure at Brex?
  • One of the fastest companies to multi-billion+ valuation -- more pressure w/ all that capital?
  • With the raise and expectations some suggest that the outcome is binary -- is it?
  • What advice do you have for early-stage, pre-A, founders trying to build a venture scale business?

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