This is part 2. Part 1 is yet to be written, and will discuss the learnings around choosing the right sized startup opportunity.
Part 2: Airwallex
Palantir – where I spent 11 years commencing in 2008 – was a unique opportunity.
- The company was 4 years old and well funded, already with 100 staff in the United States. The “risk” was only moderate given Palantir had identified the product fit and demonstrated ability to commercialise even in the slow-moving Government sector
- I was the first employee outside the US. I had access to learn from talented peers, but the requirement to apply those learnings to every facet of our international business
- I was based in Australia. I didn’t need to uproot my life for the chance to work with the talent, entrepreneurism, and energy of those drawn to Silicon Valley. A group with significant contrast to the broader culture and work ethic of the Australian workforce.
Over this time, Palantir grew 500x in value. I spent about half of my time in Australia.
Scroll forward to 2020 – I have two recruiter discussions in the same week:
- Recruiter One: “I’m not sure if we want startup experience [Shannon], or more established experience like those from Seek or REA Group [Australian public online companies]”
- Recruiter Two: “Based on your experience at Palantir, I think we have some really interesting opportunities for you”.
Recruiter One failed to realise that Palantir’s market cap and employee numbers were each greater than Seek and REA combined. His vision didn’t expand beyond one city.
Recruiter Two was from Airwallex and demonstrated that she’d done her homework. Airwallex wasn’t thinking in the Australian market, they were thinking in the global market.
Airwallex had my attention; here’s what I learned…
Airwallex are like Palantir:
- Airwallex has an aggressive, global vision. To be the world’s most connected global payments system, and in doing so create a wonderful experience for their small-to-enterprise business customers
- We’re not even close to reaching this vision, and the opportunity created along the journey will be vast
- Airwallex is investing in talent and growth. They understand the need to hire talent that will align with the vision and seek to grow with the company. A shared responsibility that will create mutual benefit for employees as we scale dramatically beyond our current size. When you join a business: aim to grow with, not through.
Airwallex presents new opportunities for me, unlike Palantir:
- The problem space – fintech – is new to me and more targeted. As Palantir expanded beyond Government they developed a generalist data management platform that required understanding the needs of many different industries and business goals. While Airwallex aims to support many industries, the business needs are more targeted, allowing greater focus in building out an end-to-end financial system. The opportunity is vast, but the approach to capturing this opportunity can be more considered
- Made in Melbourne. Airwallex’s engineering hub is right here in my backyard, one of the most “balanced” cities in the world. Without going into detail, there is very little that is “balanced” about New York City or the San Francisco Bay Area. For Australians who do have that Silicon Valley spirit, Airwallex presents an opportunity to remain on home soil or return from abroad
- A connection with China. Airwallex comprises both Chinese and Australian leadership. Australia’s relationship with China is deeply important, however it’s been absent from my career to date. I’m eager to explore how we can leverage the strengths of each culture to build Airwallex.
Like Palantir in 2008, the growth ambition of Airwallex is yet to be realised, but I’m making a bet that it will be realised with my most valuable asset: my time. I’m looking forward to the journey.