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"Benevolent Disruptors” is a podcast series, co-hosted by the Managing Partners of BNVT Capital, Rory Mounsey-Heysham and Chris Corbishley. In this series we interview leading founders, investors, allocators, and regulators on the role of business and technology in society.
As individuals, business and governments grapple with the implications of a rapidly evolving technological landscape, Benevolent Disruptors provides a more optimistic view on how technology changes lives. We learn from the inspirational stories of those building big businesses tackling our most pressing challenges.
So there's a problem at the heart of the global financial system that not enough people talk about, And it's been innovated around over hundreds of years, if you go right back to the beginning. And it's all about moving money across borders. It's slow, and it still remains opaque and expensive. And it's almost as if it's by design. So our guest today has built a payment system in parallel to Swift that's fundamentally changed how money moves around the world.
Chris:In 2015, he was sitting in a Melbourne coffee shop, one that he owned, in fact, watching as FX fees were eaten into every international order that went through the shop, and he decided to build an alternative. Ten years later, as you may have guessed it, the company Airwallex now processes more than $260,000,000,000 of annualized transaction volume across over 200,000 businesses in 200 countries. Today's guest is, of course, Jack Zhang, the co founder and CEO of Airwallex, and is living proof that the next generation of global financial infrastructure does not have to be built in London, New York, or San Francisco for that matter. So, Jack, a huge welcome. We're all here in Athens at the Panathena studio surrounded by people building the future, and there's no better person to kick off the festival than than yourself.
Chris:So let's get into it.
Jack:Thanks, Chris. Excited to have this conversation.
Chris:So, Jack, what I wanted to take you back is maybe to, like, the pivotal most pivotal moment in the Airwallex story. You know, there's there's ones that we've we've obviously experienced. I mean, I've been fortunate enough to be an investor in the company and we've seen it go through multiple stages, but, you know, there's the billion dollar offer that gets talked about a lot by Patrick Collinson in the early days, you know, always, always kind of curious to know what kind of caused you to turn that down. Others probably, probably more nail bitingly are getting through the COVID pandemic and, you know, what was challenging for many businesses, but particularly for global cross border payments, Or maybe today, you know, innovating in the realm in the realms of these mega rounds and, you know, global payment infrastructure becoming even more competitive. I'd just love to know what's been the key moment for your journey in Airwallex?
Jack:Yeah. I think obviously there's like a few important moment like what you said, you know, if we decide to sell the company to Stripe back in 2018 or we couldn't navigating that kind of disruption from COVID and the company wouldn't have existed today. But it's actually what fundamentally changed the company in the last decade is actually not those moments. It's actually something quite small, but have a profound impact to the trajectory of the company. It's how we're thinking about our recruitment, sort of talent strategy, and also how we're thinking about building our businesses.
Jack:We kind of call it the path of max resistance. Doing the most difficult, but the correct things for kind of a compounding infrastructure and value creation over a very long period of time. I'll talk about the talent thing maybe first, that in about 2019, we hired our Chief Product Officer, Shannon Scott, who spent over a decade at Palantir. So he was the first international employee to hired outside of The US that he was a GM of Australia New Zealand business for Palantir. But then later on that he went to UK and Europe, built that European business for them, and then later on went back to New York and become a product leader of that foundry product, which is, you know, driving a majority of the revenue Palantir now.
Jack:So, and a big chunk of Palantir revenue now. So I think that one thing he really brought to the table is, you know, how, you know, startups should think about talent and what sort of people we should bring on board. And in the early days, we hired a lot of people from Citibank, from JP Morgan, like people kind of have done global payments or kind of been building global payments infrastructure in traditional incumbent bank. And, you know, we constantly kind of getting clashed on like how I wanted to build the product and how they thinking the product should be done, just like how Citi was doing it. And it was never really put the piece together.
Jack:It's just always feel struggle. And we have a very heavy sort of experience based recruitment framework that everything, every people we hire really focus on, if they have done this before, do they understand global payments? Later on, we figured out the complete wrong way of doing it, that we should hire people with a lot of agency, with a lot of grit. And then coming from first principle of everything, coming from engineering's sort of principles, design a product from the ground up, what the sort of the best global money movement payment network should be look like, what the future of global banking should be look like. And we basically, you know, Shannon sort of helped us to reshape our kind of recruitment framework from a experience based framework to a competency based framework.
Jack:And that fundamental change, how we're looking at recruitment, we're looking at conversation, how we're looking at empowering employees and how we build a culture. So a lot of the folks that in the early days actually left the company and especially the senior people. And then we kind of had a brand new leadership that very focused on first principle thinking, very focused on sort of customer experiences, very focused on the kind of the outcome we deliver to the customer, but not only today, but also what it looks like in five, ten years, even kind of a long period of time, can we creating this component value. And that fundamentally changed how we basically build a company, what the culture today is very different to the culture that seven, eight years ago. And ultimately, that allowed us to build a pretty successful business to date.
Chris:And that may play into the next question, which is really around how, you know, a company that really was born in in Asia Pacific, I mean, in terms of its origin story, you know, I I wonder how I I often wonder how you came to sort of be able to compete on a global stage with the likes of Stripe, with PayPal, with global incumbents that that are so heavily set and and have always seemed to originate in in in in Yeah. In Europe.
Jack:I mean, if you think about it, when we started the business in in Melbourne, Australia a decade ago, there was no unicorn in in Melbourne or in entire Victoria. And there's only one venture capital investor out of, you know, in the whole Australia, there's only three VC investors and and raising money is impossible. It's impossible to get mentorship, to understand how to build a company. So we made so many mistakes early on and we completely failed our product twice and have to pivot to, you know, the product today. If we were in Silicon Valley, we probably have already kind of died and then building something quite different to what people are building in The US.
Jack:They really focus on product market fit, really focus on getting the product out to the customer as soon as we can. You know, I just talk about the Passive Max Resistance. You know, we went on a journey of getting licenses in over 70 markets around the world, with more than 80 banks around the world to, you know, and the central banks and local payment systems that one by one, country by country, doing the kind of the most difficult things and, you know, engaging in regulatory, legal, engaging compliance, rather than taking the pause of just getting the product out there to get product market fit initially without doing this really hardcore regulatory and financial infrastructure work. And we probably wouldn't have the time to do that in the valley either. But, you know, being outside of the valley, being in a small sort of startup ecosystem that gives us the time to really figuring out how to creating this business for the long term winning.
Jack:And how do we thinking about programmatically building our business started with global money movement, they extended to, you know, payment to compete with Stripe, then later on also expanded to corporate card and spend management, competing with Ramp and other sort of spend management company. But also more important, our core business evolved into a global bank that we started building essentially the tech forward version of HSBC or Citibank. And now we're building that kind of AI layer on top of that to empower entrepreneurs and businesses who want to grow globally. And that kind of past and past experiences almost become a DNA or philosophy of how we're building the business. And also being in a sort of starting from a small country, give us leverage to getting the best talent in that country, right?
Jack:So if we are in, even today, in San Francisco, we really sort of struggle to get the best talent. You were competing with the big AI labs, you were competing with so many brilliant founders out there, where in Australia or in APAC, you just become, you know, the company that people want to work for. And, you know, you have the best culture, you have the most innovative product, and you have the best talent density, so that kind of attracting more and more sort of talent into joining the company. So that it is almost like a benefit to not to be in the valley initially to build a strong kind of talent base to do what we do. And we also have enough time and patience to make mistakes, but also more importantly, build towards a long term value.
Jack:And because the competition is a lot less than The US, which is a single biggest market in the world. And then we only went to The US after we already kind of dominated Asia Pacific from a global banking perspective and payments perspective. Then we later on extended to Europe and North America. And because we have such a profitable cash cow in Asia Pacific, and we can leverage that profitability to keep investing in Europe and North America now, within three years of expanding there, North America and Europe has already accounted for close to 40 of revenue from like zero, three years ago. So that's kind of a tremendous development for the company.
Jack:But, you know, we couldn't achieve what we did without, you know, six, seven years of building the infrastructure, getting regulatory approval, having a great culture of attracting talent, coming from a first principle perspective of building the product.
Chris:It's fascinating. Were actually in Boston yesterday with Sebastian Mallaby in conversation with Demise Asavas, used the exact same rationale as to why actually staying in London and not having the distraction or the competition of moving DeepMind, for example, into the valley where you're up against stiff competition, but also terrible distraction from the core mission. And so it's fascinating that kind this of profit engine is what's driven your success now in Europe, in The US, and your retention of talent. And I think one of the most impressive journeys, because I remember in 2019 when we invested, it was it was still in that early days. You'd really proven some incredible product market fit in payment corridors that otherwise were very difficult to execute in.
Chris:I had moved into things like corporate cards, moved into payments. And, you know, what what was fascinating was just the speed of execution on the product and how quickly you were unlocking enormous TAM, enormous new product areas by just pure innovation. And again, I'd just be curious to know how you created that culture internally and been able to innovate on the product side so quickly. What's driven that?
Jack:Yeah. I think partly it's driven by customer demand, right? So that when we build the infrastructure, when we build the business account on top of that, that we have customers asking, oh, you know, if you already help us managing banking and financial operation globally, can you also help us to managing my corporate card and managing my expenses and procurement reimbursement and all that? And, you know, we see a lot of our customers using Strive or Audient to process online payment, but when they're doing cross border online payments processing, they're 2%, 3% of that GMV on FX and then cross border settlement. And it doesn't make a lot of sense from a first principle point of view.
Jack:So we kind of really see the problem. There's a demand of having a single platform to managing sort of the money in, money out, and also where the money is sitting and how they're managing the cash flow and treasury of that. Right? So there's like, there's obviously a first principle element, there's also sort of customer demand side. And also that we, you know, we talk about pivotal moment that it's very sort of important for the company.
Jack:In 2019, we decided to obsolete, early twenty nineteen, we decided not to go down the path of setting the company to strive. And that is a very hard decision for us. Then we're basically thinking like if we decline this decision, we need to build a $1,000,000,000 company, right, to make the journey worthwhile. Otherwise, you know, we could just sell the business. And we need to think really big or nothing.
Jack:And we raised a $100,000,000 on the back of that from DST. And it's really kind of invested about 80% of that capital into building new product, which is payments, merchant acquiring and corporate card and spend management. And we also took a very different approach as in we build that merchant acquiring infrastructure, become a principal acquirer everywhere we operate. And we become a principal issuer of everywhere we operate, so that we do not have any third party in the dependency that we can deliver a multicurrency product from the ground up that which no one have the capability to provide in the underlying processor or infrastructure at all, that across APAC and Europe and North America as well. So I think that is also a very big decision because we know these new products are not going to get generating any revenue for the next three years.
Jack:Imagine, right, in 2019, we had 12,000,000 revenue and you deploy 80% of the money you raise to building two new products that basically are not going to give you any revenue for the next two years. And at the same time, you are starving your core product because we've been keep recruiting and most of the new people recruited goes to new product, that the core kind of money movement infrastructure that kind of almost like expanding slower. We even kind of try very hard to keep up with the customer demand as we're growing. But we know that the world from a first principle perspective, that makes sense to have a single platform to handle all the customers' money, especially for mid market and SMBs, right? So you don't want it to If you need like one market that you have one provider for processing your payment, another provider for your banking, and maybe another provider for corporate card, fine.
Jack:But if you think about it, if you operate in 20 countries, you're not going to have three providers in each of the country. And at that time, you know, there's really not much of an alternative for those companies to operate globally. We think it makes a lot of sense to have a single platform to do that. And then we decided to betting all our future that vision, which is driving kind of mostly first principle, but also kind of validated by customer demand. And now this new product generating about 60% of the company's revenue.
Jack:And the product only went live in sort of 2022. And within sort of four years of sort of expanding that essentially 90% of our customers' acquisition still own the kind of the global business account. But then we upsell the payments product, we upsell the corporate card and spend management product. Now more than half of our customers are using two or more product. About 80% of our revenue are generated from people using two or more product.
Jack:So the customer that using more product of Airwallet is a lot more profitable than the customer that only using one product. It's a lot more sticky as well. And now sort of with AI democratizing the vertical discipline in sort of office of the CFO, gives us even more advantages to tackling, we call it the entire financial operating system of the corporate finance team, right? You know, the financial operating system for a startup or for a global company. And kind of thinking about like, you know, coming, tell us sort of the reason we kind of bet on that multi product vision.
Jack:But if you're thinking about AI, you know, you have to go multiparta from day one almost because the nature of AI is disrupting this vertical discipline that because the agent can all work in together to create an outcome, you don't really need everything staying in their own line anymore. There used to be like twenty, thirty winners in the office of CFO that you have, you know, expense management, procurement, accounting and revenue recognition at P and A, so that you have like twenty, thirty winners, all multi billion dollar companies sharing this a few $100,000,000,000 sort of market cap or revenue pool. But now the addressable market become not only that, but also plus the 10,000,000,000,000 plus sort of finance knowledge worker. And the vendor is not going to be twenty, thirty company anymore. It's going to be two, three company, all kind of doing everything, which is the nature of how AI operates, that the addressable market is also kind of 10x, right?
Jack:So it's less inclusive, right? So you have less winners, so more competitive. The market size is also 10x more. So the price to win has also become a lot bigger. So that all these things we built in Airwallex in the last decade, taking the pulse of Max Resistant become the best decision for us to able to win in the world of AI finance.
Jack:Because now we have controlled infrastructure for banking, money in on the payments and money out on corporate card and also transfer and spend management. We also kind of have the workflow of this company that we've seen in a very good position, not only to just deal with the infrastructure side, but also kind of give them the agent to help them to managing the finance team autonomously that ultimately become this agenic finance layer or financial operating system sitting on top of the infrastructure we built over the last decade to creating even bigger component value in the next decade.
Chris:Yeah. And I'd love to touch a bit in more detail on the on AI finance layer that, you know, one of the things we've observed is actually this, we haven't seen this kind of AI native fintech wave emerge in the last three years. If anything, actually, is the, the big players, large consolidators that have managed to innovate and, and consolidate fast enough to, to create agentic payments to to actually dominate the market. And one of the things we've been seeing, we've been observing obviously in in public markets, now private markets is this huge concentration in the hands of a few. This it's almost like a steepening of the power law amongst a few players that can dominate.
Chris:And and I I again remember over the last five to ten years of investing in fintechs, we we were all trying to hit one of these different wedges. You know, the corporate cards player in Europe, you know, we do the pay hawk, a penny lane, know, maybe a lending business. And we just quickly saw, particularly Airwallex actually just start to cover the whole stack, and it was purely that bet on that first principles thinking, as well as answering customer demand that got you there, which is a bold bet, but it certainly paid off.
Jack:Yeah. I mean, like, a lot of them, you know, from a VC point of view, doesn't make a lot of sense. People always try to buck you in one category. Are you a spend management or corporate card provider? Are you a global NIO bank?
Jack:Or are you payments provider? Because that's kind of what people observe and seeing. And, you know, we essentially are bold enough to say, Hey, you know, we don't think that we should be categorized in any of these verticals. We think by first and first, there should be a single platform and financial operating system for these global companies and somebody should be there. And then just like how Citibank or JPMorgan been servicing these Fortune 500 companies and there needs to be a new generation where global bank do the same for global company.
Jack:And the definition of a global company have fundamentally changed from the like of Nestle Coca Cola twenty, thirty years ago to now, any AI startup is a global first company. Any company even selling on Shopify is a global company all the way to Airbnb, Google is a global company. I think technology democratizing the definition of going global from day one and the financial infrastructure need to be, you know, doing the same. And that is the mission of Airwallex is building that future of the global banking and by first principle, creating that sort of the single platform to empower these entrepreneurs and business builders to access global markets from day one, rely on the Airwallex to do everything essentially in finance. And do you
Chris:think some of these single product players are effectively backing themselves into a corner? I mean, you know, we've seen well, we're gonna see more with the Stripe IPO filings at some point, but they've been hiring we've on a bit of a hiring spree, including members of of our investment universe, who have given a bit of intel in terms of, you know, something like 90% is just is payments. And the target by h two next year, which is very ambitious, is to take that more to 60% payments, 40% other value add services, such trapped capital, crypto, anti fraud, etcetera. But in a way, their core business really is so dependent on on this this payments of structure. Similarly with Ramp, it's still very much a corporate cards player, which is in in strong antithesis to an Airwallex.
Chris:And do you think these folks have kind of backed themselves into a corner by not diversifying fast enough?
Jack:I think the the benefit of these guys playing the AI in The US as the largest market. Right? So that the market is good enough. You see, if you become the largest sort of leader in that category in such a, you know, the biggest market in the world, that you could build a very big business in the market, which is what, you know, Ramp and Stripe are able to do. I think, obviously, you know, I think Stripe is much, much bigger scale at this stage.
Jack:And they also build amazing brand in the developer ecosystem, which is, you know, a very, very strong moat, right? Where, let's see, the other player have less of a moat. But if you're looking at folks in Europe, right? So there's a lot of these vertical FinTech player kind of try to do the same and then never actually achieving the same outcome. Is because the market is smaller and the complexity is higher that, you know, Europe is not one market, it's like 2,030 markets, right?
Jack:So it's very different to do the corporate card and spend management in Germany versus France versus, you know, where we're sitting Greece or The Nordics or the spend of the world, right? So there's so many complexity from a local sort of ERP and ecosystem and then, you know, on the integration standpoint, so many sort of different rules there. And, you know, if you wanted to do banking, you have to get French RBN for French business, and you need German RBN for German businesses. So I think that you kind of have to thinking long term and thinking about doing a lot more difficult things in like the Europe or the APACs of the market where the market is very sort of segregated. And that is the past that Airwallex True is that because we don't have the luxury of going on one bet in one sort of big vertical in a very big market.
Jack:So that's why we took a different path. And now we're kind of big enough and have enough scale to go after multiple products in multiple markets at the same time. Right? So now we're kind of targeting to getting a million customers by 2030, making about 20,000 sort of revenue per customer. If we achieve that successfully, by 2030, that's a $20,000,000,000 top line company.
Jack:Right? So it's extremely ambitious goal to to achieve.
Chris:Mhmm. And then before finishing off on the more personal element of your journey, which is always, I think, what's fascinating for most, I I did want to touch on two things you mentioned. One is is Agensic and AI kind of versions of fintech and global payments, and whether that does indeed come from the existing challenges that have emerged in the last five, ten years, or if you're terrified that there's a whole new wave of AI fintechs waiting on in the eaves. But related to that and to your point about this kind of concentration, do you feel like the way that the Airwallex story has unfolded has meant that you've been able to do more good than other players by being a global business, by focusing on corridors that are notoriously hard to reach? Do you think you've had more impact than than, say, a Stripe, than a sort of more generic payments kind of corporate cards player, for example?
Jack:I think organic payments and stablecoin are probably the two biggest topic in the sort of fintech world of the last couple of years. Right? So I think if you're looking at stablecoin, I think the biggest challenge is regulation and compliance, right? So, and also there's an economy scale from a liquidity and some market efficiency sort of perspective, but the biggest sort of barrier was still compliance and regulation. And it's a sort of a basket of mix of good players and bad players.
Jack:And it's very hard for people and general public to differentiate the difference. And I think that's creating even extra complexity for the industry. And by thinking like a first principle, does it make sense for everything to move 20 fourseven in real time and it's very cost efficiently. That, of course, doesn't make a lot of sense. But the question is, you know, you can't really just carve out something to say, hey, that is real time.
Jack:That is, you know, frictionless. You know, just talking about moving money on chain. And that is, you know, I think that is the narrative that a lot of these crypto native guys sort of created. It's almost like a bit of a de saving, you know, from a public point of view. Right?
Jack:But you need to think about and also a lot there's a lot of ideologies saying, hey, the world should just move it on chain. But but guys, you know, the, you know, the world is like, still have a lot of country, you know, like, it's still cash. Right? I mean, there's we've been trying to do cashless for the last fifty years and we still haven't able to do so. Just think about when the world gonna move to on chain a 100%.
Jack:I mean, of course, you can have audiology, but you also need to, as a founder or entrepreneur, you have to think about the reality of where we're sitting today. You know, there's $7,000,000,000,000 or more processing on the FX market a day and on the SWIFT network as well. So the thing about in ten years' time, can 10% of that seven or eight or even $10,000,000,000,000 a day move into on chain, right? And that'd be a pretty good situation, right? That's like trillion dollar a day.
Jack:It's massive already. And even you do achieve that, you still have the vast majority, 90%, which is still fiat. And how do you kind of connecting that kind of stablecoin or the on chain world to the fiat world? How do you do instant on ramp and off ramp to really kind of delivering the value of stablecoin to the physical world, integrating with the kind of the ACH or the fast payment, the MPPs, the PayNow, the FPS around the world, right? All these OPICs or UPR, right?
Jack:But none of these systems are connected yet, so that there's still a lot of fundamental issues to be solved around compliance, connectivity to the physical world. And I think there's a lot of white space to go after and Airwallex are preparing to kind of solve all these issues I was talking about. And on organic payment, I think it's more of a So one thing is obviously you need to have an uplift to the current sort of Visa, Mastercard, so the card network to kind of cater in these agents that now handling that payment information or a tokenized card or whatever that form is. But I think coming to like first principle that I feel the world needs more wallet. So I think wallet is a much secure store value facility to allow not only human to make payment, but also human to delegating agent to auctioning your wallet.
Jack:And then when a certain limit gets reached, then you can get human to do remote authorization. Wallet is a much easier way to be regulated and also a lot more secure than in the tokenization itself to to kind of carry the future of Virginic payments. And you can I'm kind of putting both FIA and Stablecoin in this wallet and to allow this sort of different wallet system to community together through Stablecoin essentially become a currency of universal wallet. And that's kind of the future I imagine how, you know, organic payment is going to evolve. Essentially, you will have agents sitting on sort of a regulated wallet infrastructure, so started sort of to making payments to other agents or or issue like one time token as card or just simply sending from like one wallet to another through stablecoin, which is essentially becoming a universal currency between how different wallet and agent kind of communicate each other.
Chris:Mhmm. Yeah. It's interesting that wallet is still the unit of, as you say, the the store of value to enable that with with limits.
Jack:And more importantly, there's a very mature regulatory framework around wallets, you know, the e money regulation around the world, then that the fintechs can just piggyback on. I don't fundamentally believe that you can just having agent operating payment instruments, having store value and, you know, without worrying about the deregulation, without worrying about fraud, without worrying about security.
Chris:I agree. I think if anything, that's why we haven't seen that sudden innovation in fintech the way that we've seen it in other verticals. Does take time. Needs time.
Jack:Yeah. Because you need to take the pause of max resistance to don't everything properly because we are operating in highly regulated environment and you could do a 100% of that crypto native way. But that's why the limitation, right? So until stablecoin, there's no real world use case of crypto. It's largely stated as a sort of speculative financial instrument and it doesn't really do much good for the world where you kind of have to thinking about how to deliver the benefit of stablecoin to the real world, which is, you know, into interacting with fiat, interacting with the current payment rails.
Jack:And that's where, I think, where Airwallex is gonna be investing on to fix all these issues.
Chris:So, yeah, basically, we always end with the same question to all of our all of our guests. And it's really touching on the kind of personal story, the personal journey, motivation behind getting through the hard times and and the good, and trying to understand, you know, what drives you. And, you know, we we frame it as like a benevolent or disruptor. You know, is it the mission of of enabling global payments in a way that's frictionless and affordable and seeing the the good you can have as a result of that technology? Or is it the the disruption potential and and the the idea of, you know, creative disruption and the technology aspect that kind of motivates you and drives you?
Chris:I'm just curious.
Jack:Yeah. So I think this is a couple fold. Right? So I think the first thing is entrepreneurship. And when we started the coffee business that we didn't have a good solution to paying coffee beans from Brazil, from Indonesia, and it's very opaque and expensive and slow, and we have to pay like 4%, 4% FX fee, right?
Jack:So there's like, fundamentally, that's kind of a big problem. I think we want to solve that, so other people, other entrepreneurs that don't have to deal with this same problem. But as we sort of thinking about a larger picture, just the internet, the mobile internet, the cloud, every sort of cycle of innovation sort of fundamentally pushing the humanity forward in a way that is sort of less and less time for us adapting to technology and to change. And the definition of a global business is fundamentally different today than twenty years ago, right, as I said. And then now with sort of AI having this paradigm shift and just think about how many people are going to lose their job because a lot of the people, you know, the job category just going to disappear.
Jack:And what is the answer to the society to creating more jobs to kind of shift to the future? It's got to be entrepreneurship. And because it used to take, ten, twenty, thirty, even tens of thousands of people twenty, thirty years ago to creating a business or global business. But now with the model, with all this power of AI that people can harness, that you can create a business with one or two person. And now people talk about one person unicorn, and there's a lot of solo entrepreneurs now leveraging this model and can just build agent instead of hiring human to innovate to solve a specific problem.
Jack:It's just 10 times easier, a 100 times easier to start a business now, to become entrepreneur. So I think there's going to be a 100 times more entrepreneur or more businesses getting built in the next decade than the last decade. And Airwallex sort of is the infrastructure to help those entrepreneurs to access global market from day one, give them that completely AI native financial infrastructure, but also that kind of organic operating system for them to run that company autonomously. You know, whether you the company started in essence and you wanted to move to UK or Germany or Australia or Singapore or The US, you could have a bank account in a matter of seconds and you can start selling to customers there. We'll give you agent to help you to close the books, to help you to manage expenses, manage your vendor, pay your employees, managing your revenue online or offline, and reconsolidate everything at the end of the month so that you don't have to worry any of that.
Jack:So that you can get a lot more done and focus on your core mission. And I think by doing this, we essentially helping the world that are moving to that AI native society, AI native workforce, and then help them to creating more jobs, which I think is a big motivation factor for me. On the sort of personal front that, you know, I think myself more like a professional athlete, you know, that you have the if you play tennis, right, you wanted to play with, you know, acras, with Cindere, with Djokovic, this sort of top elite player in the world. And if you're a basketball player, you wanted to play in the NBA. And I feel like, you know, Airwall, essentially, as an entrepreneur, I'm playing I'm an athlete in the business world.
Jack:I wanted to competing with best entrepreneurs in the world, you know, the like of, you know, Patrick and John from Scribe, you know, I feel excited and motivated to compete. And then ultimately, the competition helps delivering a better outcome for entrepreneurs, for business builders, for everybody that, you know, this economy. So, and I really sort of look forward to continue to compete with the most elite entrepreneurs and ultimately creating value for the society.
Chris:Well, Czak, thank you so much. What a perfect analogy to end with. And it's been a real pleasure not only seeing the journey over the years, but, you know, having this time with you today to see a bit more into the future and the and and the vision for Airwallex going forward. So thank you so much.
Jack:Thanks, Chris, for having me.