Pedro Pineda, CEO de Fintual, habla de aprendizajes en el mundo del emprendimiento y de la vida

Episode Overview

• Pedro Pineda shares his entrepreneurial philosophy of doing things he enjoys with people he likes, detailing his journey from early, ambitious failures to the rapid success and sale of his first startup.
• The conversation covers the founding of Fintual, born from the insight to disrupt industries that are inefficient and expensive, and the crucial lessons learned during their successful application to Y Combinator.
• Pedro explains Fintual's unique and approachable company culture, highlighting their "all hands on support" policy and creative marketing as keys to staying connected with customers.
• The discussion delves into personal philosophies on productivity, the importance of mentorship, and using the awareness of mortality as a focusing mechanism for life and business.

Key Concepts

• Core Philosophy: The guiding principle of "doing things I like with people I like" has shaped Pedro's career choices, from co-founder selection to company culture.
• Valuable Failures: Early ventures, like an attempt to charter a plane for the World Cup and a failed dating app, provided crucial lessons in ambition, risk-taking, and the importance of prioritizing relationships over business.
• The Fintual Insight: The most significant business opportunities lie in disrupting industries characterized by poor service and excessively high costs, as seen in the Latin American financial sector.
• The Y Combinator Experience: The journey involved an initial rejection followed by meticulous preparation for a successful second attempt. Key learnings from YC were often counter-intuitive and "game-changing."
• Counter-Intuitive Pitching: A key lesson from Y Combinator is that the goal of a one-minute pitch is not to explain the entire business, but simply to generate enough interest to secure a follow-up meeting.
• "All Hands on Support": A core tenet of Fintual's culture where every employee, from the CEO to developers, spends time on customer support chat to stay grounded in user needs and pain points.
• Culture and Branding: Fintual uses humor and approachability in its branding, with creatively named funds (e.g., "Risky Norris"), to demystify investing and build a strong connection with its audience.
• The First Hire's Impact: The initial employee a startup hires is critical, as they set the cultural tone and behavioral precedent for all subsequent hires far more than the founders do.

Quotes

• At 0:02 - "Quiero hacer cosas que me gusten con gente que me guste." - Pedro explains that this core philosophy has guided him throughout his career, leading him to seek out enjoyable projects with people he respects and likes.
• At 3:16 - "Fue un fracaso directamente, pero tuvo consecuencias muy, secuelas muy buenas y muy bonitas." - Pedro reflects on the outcome of his plane charter idea, highlighting how even failed projects can lead to positive, unexpected results and learnings.
• At 13:03 - "Para mí es más fácil hacer una empresa que hacer un amigo nuevo... prefiero mantener mi amistad con esta persona para el resto de mi vida... y prefiero que detengamos esta empresa." - On why he decided to shut down his dating app startup, prioritizing his friendship with his co-founder over continuing a business with growing conflicts.
• At 18:36 - "Haz algo en una industria donde las cosas se estén haciendo muy mal y muy caro." - Pedro shares the key insight that led him to create Fintual, identifying that the best opportunities for disruption are in sectors with poor service and high costs.
• At 26:53 - "Pero el otro 20% es game changer... son cosas contra-intuitivas que tú no se te ocurren, no las pensabas y que cambian definitivamente el curso de tu empresa." - On the value of Y Combinator, explaining that while 80% of the advice is fundamental, the remaining 20% is transformative.
• At 27:58 - "Lo que tú tienes que hacer en un minuto es lograr que la persona se interese en hablar contigo después de nuevo." - Sharing a counter-intuitive lesson about pitching: the goal isn't to explain everything, but to generate enough interest for a follow-up meeting.
• At 29:59 - "¿Qué pasa si Brad Pitt te demanda? Y yo le digo, 'Por favor, que Brad Pitt me demande.'" - Recounting his humorous response to an investor who questioned Fintual's strategy of naming investment funds after celebrities like "Moderate Pitt."
• At 32:55 - "Cada persona que trabaja en Fintual tiene un turno en promedio de una hora y media donde tiene que estar en el chat atendiendo, no importa si eres el CEO como yo, si eres developer, si eres diseñador." - Explaining their company-wide policy to ensure everyone stays connected to the customer's needs and pain points.
• At 37:43 - "Me acuerdo todos los días que me voy a morir. Y eso me hace bajar... me hace preocuparme por las cosas que realmente importan." - On the personal inflection point that changed his life, using the awareness of mortality to prioritize what is truly important over superficial matters.
• At 46:51 - "La primera persona que tú contrates puede marcar muy fuerte la cultura de tu empresa." - On the critical importance of the first hires in establishing a startup's culture, as subsequent employees will model their behavior after them, not the founders.

Takeaways

• Prioritize strong personal relationships above business objectives; be willing to sacrifice a venture to preserve a valuable friendship.
• Find your next big idea by identifying industries that frustrate consumers with poor service and high prices, then build something better and more affordable.
• Reframe your pitching goal: instead of trying to explain everything, focus solely on creating enough curiosity to get the next meeting.
• Keep your entire team, especially leadership, connected to the customer experience by implementing a policy where everyone regularly handles customer support.
• Be deliberate with your first hires, as their behavior and work ethic will define the company's culture more than any mission statement.
• Use the perspective of your own mortality to maintain focus on what is truly important and to avoid getting caught up in trivial matters.