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Episode 55

Why Upwardli CEO Aaron Gregory Took the Leap from GC to Founder

Episode summary

Introduction: 0:00

  • Introducing Aaron Gregory, co-founder and CEO of Upwardli. 
  • Formerly serving as GC of Remitly and VP, Law & Public Policy at SmartSenseCom.
  • Started his career in federal regulatory matters at Dentons and Kelley Drye & Warren.

Forging a career in highly regulated industries: 1:25

  • Trying to become a corporate lawyer during the great recession and finding work at a law firm.
  • Recognizing and acting on enormous changes in telecom created by industry consolidation. 
  • Becoming a fintech specialist before it was a dominant field.

Advice to law students considering a JD-MBA: 7:20

  • Recognizing his classmates’ passion for legal work and realizing he wanted to take a different path.
  • Making difficult business decisions in areas of uncertainty.
  • Overcoming fear to accept business-related risks.

Teaching yourself to become comfortable with uncertainty: 9:57

  • Understanding that even a failing business can teach you a lot.
  • Founding a company in order to live life to the fullest. 
  • Viewing negative experiences as an asymmetric upside.

Leaving Remitly right before it went public to found a start-up: 15:10

  • Feeling that the business functions you oversee have narrowed in the GC role.
  • Identifying a problem in the credit market that inspired him to found a credit-focused start-up.

Unpacking Upwardli: 18:42

  • Solving the challenge of credit invisibility that affects fifty million people in the United States.
  • Serving as a bridge between companies who need to offer credit products and customers with limited access to credit, like recent immigrants, gig workers, and 18-25 year olds.
  • Building a simple platform that offers a positive credit experience.

Bringing your business to a start-up accelerator: 22:26

  • Receiving valuable education and mentorship at Techstars.
  • Creating a reliable network of business leaders experiencing parallel issues.
  • Getting a mark of approval and credibility by participating in a trusted accelerator.

Fundraising for your start-up: 27:05

  • Learning to pitch effectively.
  • Fully devoting yourself to fundraising instead of splitting your time on other tasks.
  • Looking for people who believe in your idea and are willing to take a risk on you.
  • Moving on quickly from people who aren’t sure about your business.

Making an effective pitch: 33:15

  • Taking important lessons from bad pitch meetings.
  • Needing to be able to share most important info verbally on cue.
  • Learning how to pitch well via trial by fire.

Growing into the CEO role: 36:16

  • Controlling for risk in all aspects of the business.
  • Going beyond legal advisory to incorporate business needs into your decision-making.
  • Mitigating the mindset shift from lawyer to leader.
  • Finding healthy outlets for dealing with stress in a position of accountability.

Building Upwardli in Milwaukee, Wisconsin: 44:43

  • Standing by the conviction that great companies and great talent can come from anywhere.
  • Understanding that starting a tech company outside of the Bay Area or Seattle requires you to swim upstream.
  • Allowing skilled people who left their hometowns for their careers to return and work for a great company.

Bonus questions: 48:48

  • Favorite part of your daily routine.
  • Professional pet peeves.

Book recommendations: 51:29

  • High Output Management by Andy Grove.
  • The Right It: Why So Many Ideas Fail and How to Make Sure Yours Succeed by Alberto Savoia.

What you wish you’d known as a young lawyer: 53:02

  • Taking smart risks and understanding that you can always pivot when necessary.
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Host
Tyler Finn
Head of Community & Growth, SpotDraft
Guest
Aaron Gregory
Co-founder and CEO, Upwardli

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