Executive Vice President & Chief Financial Officer, Centrespace
Search every verified Bhairav Patel interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Bhairav Patel, currently Executive Vice President & Chief Financial Officer at Centrespace, appeared on the Hunter Bond podcast in September 2022, where he discussed his experience as a CTO and managing director of Atom Ventures. He stated that most startups fail, with 97% failing within three years, and advised that startup life is suitable for those seeking broad learning but not for those needing security. Patel emphasized that technical debt is inevitable and should be tracked and addressed, and that CTOs must think strategically about business risks such as security audits and data encryption. Patel also commented on hiring practices, noting that managers should understand local challenges when managing international teams, such as power outages in South Africa or lightning storms in India. He cautioned against choosing "shiny new technology" with limited developer support, as it can hinder team growth. Patel described the CTO role as "the worst jobs ever," stating that CTOs are often unrecognized until something goes wrong, at which point they may be fired. He advised startups to ensure 18 to 24 months of funding and to let the business evolve at its own pace rather than forcing growth.
“Most startups fail; within five years, 97% fail after three years and after five years only another ten percent succeed. So, if you want to learn a lot and get involved with many different aspects of the business, a startup is fantastic, but if you need security and a steady paycheck, startup life isn't necessarily for...”
“If your business takes off and you're using a technology that's just come out and doesn't have great support or many developers, it's going to be really hard for you to grow that team. Choosing the shiny new technology that no one's had exposure to can limit your chances.”
“Technical debt is inevitable. The worst thing is to hide it away. You need to keep track of it, understand it exists, and fix those problems as you go. Not all developers are at the same skill level, so decisions to get things out quicker than you want to are sometimes necessary.”
“You should ensure that you've got enough money in the bank for the first 18 to 24 months and then expect to raise after the next 12 months if you've managed to hit your sales targets. It's hard to create profitable businesses in this environment, so be patient and let the business go at its own pace.”
“A CTO has to understand the business and think more strategically rather than just keeping their head down. Many CTOs don't think about actual risks in the business, like security audits or encryption of data, which are basic things that can be done early on to save trouble later.”
“When you take over platforms with no security audits or encryption, or haven't thought about multilingual support, it creates huge risks. Creating flexible structures early on is essential for scalability and risk mitigation.”
“CTOs are the worst jobs ever; no one knows who the CTO of Microsoft or Oracle is. You're the person who keeps the lights on, and no one cares until something goes wrong. If something goes wrong, you're the first to be fired.”
“When hiring internationally, you need to understand the local challenges, like power outages in South Africa or lightning storms in India. Managers must be aware of these nuances to effectively manage multicultural teams.”
“Most founders are good at one or two things and start companies because they see a need in the market. But a startup is not just an app; you need to think beyond technology to sales, marketing, and customer support.”
“The lean startup 'fail fast' approach has its limits. The most successful startups I know go very slowly and are considerate with each move. You can't force customers to buy; the business will take its own time to evolve.”
In this episode, our host Matt Arrowsmith speaks with Bhairav Patel who's currently the CTO of Atom CTO. Bhairav has a wealth of ...
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