Cómo crecer 70% cada mes | Santiago Suárez CEO de Addi | Fundadores Podcast ep. 46

Episode Overview

• Santiago Suarez shares his journey from venture capital to founding Addi, detailing lessons learned from a difficult first startup and his time at Y Combinator.
• The podcast explores the core insight behind Addi: that the primary barrier to e-commerce in Latin America is not internet access, but a lack of accessible credit and payment methods.
• A deep dive into Addi's unique "company of owners" culture, which is built on giving every employee equity, encouraging direct communication, and fostering a sense of shared responsibility.
• Suarez discusses the massive opportunity in Latin America's underdeveloped financial sector and how Addi overcame significant early challenges, such as massive fraud, to build a competitive moat.

Key Concepts

• From Investor to Founder: Suarez's career began in venture capital, where he realized his true passion was for building companies himself rather than analyzing them from the outside.
• The Power of Focus: A key lesson from Y Combinator was the importance of simplicity and focus, summarized by the principle, "Do one thing, do it well."
• Identifying the Core Problem: Addi was founded on the insight that the main obstacle to e-commerce growth in Latin America was the lack of access to credit and digital payment methods for the general population.
• Building a "Company of Owners": Addi's culture is deliberately built around ownership. Every employee receives equity, is considered a "partner," and is encouraged to take initiative and "pick up the trash"—solving problems they see regardless of their role. This culture is instilled from day one through a CEO-led "Owner Onboarding."
• Global Talent Fuels Local Growth: By operating in English and hiring remotely, Addi attracts experienced global leaders who then train and elevate the skills of the local talent pool.
• Market Underdevelopment as an Opportunity: The inefficient and outdated financial services landscape in Latin America is viewed not as a barrier, but as a massive opportunity for disruption and innovation.
• Early Failures Build a Competitive Moat: Addi faced significant fraud losses immediately after launching, which forced them to develop a sophisticated, proprietary fraud prevention system, turning a major weakness into a core strength.

Quotes

• At 2:03 - "Yo quiero ser el que cuenta la historia, no el que recibe la historia." - Suarez explaining his motivation for transitioning from venture capital to entrepreneurship.
• At 13:10 - "Es porque la gente no puede pagar." - On his core insight that the lack of payment options, not interest, was the primary bottleneck for e-commerce in Latin America.
• At 17:39 - "Recogemos la basura." - Using an analogy for Addi's first company value, which encourages every employee to take ownership and solve problems they see, regardless of their official role.
• At 21:42 - "Los servicios financieros en Latinoamérica están en la edad picapiedra." - A blunt assessment of the state of the financial industry in the region, highlighting the vast opportunity for innovation.
• At 26:59 - "El primer mes perdimos el 15% de nuestra plata en fraude." - An honest admission about the significant fraud challenges Addi faced immediately after launching, which forced them to build a sophisticated prevention system.

Takeaways

• Culture is not abstract; it is built through deliberate systems like giving all employees equity and running dedicated onboarding sessions to instill a sense of ownership.
• The most significant business opportunities often come from solving fundamental infrastructure problems in underserved markets.
• Confronting early, painful failures head-on can force a company to develop unique capabilities that become a long-term competitive advantage.
• A proactive ownership mentality, where everyone feels responsible for the company's success, is a powerful driver of growth and problem-solving.