Jeremy Henrickson: prediction

Transcript context

…Okay. And then the other question a lot of founders always struggle with is when is the time to start expanding internationally? Because there's pros and cons. Do you have a sense of what convinced y'all to start going international? I think our case is slightly special, but I think the right answer to that question is always before you think you do before you think you need to because there are, it's harder than everyone if they've never done it before, it's harder than you think it is. It's more specialized than you think it is. People in the UK really, really care if there is a U in color, just as we care if there's not a U in color. There's just all of these subtle lessons that, like cultural lessons for companies that take a really, really long time to absorb. And so my view is you always should do it earlier than you think you should that, than you think you have to. In our case, it was always something we knew we had to do. In fact, we have a very clear thesis that companies that aren't global, particularly in payroll, but also in kind of insurance and benefits in IT. If you're not global, you're just not going to be around in 10 years because companies were becoming global, and then COVID happened and companies became global much faster. It stopped being the province of 100-person companies plus and started filtering down into very, very small companies. It just became commonplace for small companies to be multi-country. And so that very much accelerated our timetable. And then you saw other people noticed that too, and you saw other companies starting to try to address parts of this problem as well. And so there's this kind of competitive dimension, which is sort of secondary in most ways because we were going to do it anyway, but that also kind of adds a little bit of a fire under the thing. What have you found to be most surprising about expanding internationally to be successful in expansion? For folks that are maybe starting down this road of like, oh shoot, we should think about that.…

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