Why a $1M Startup Wasn’t Worth Building in the Age of AI
Jean-Denis Greze was CTO of Plaid. His next startup, an AI tax product for small businesses, made nearly $1M in its first year and was on track for $2.5M to $3M. He shut it down anyway. The reason: in the age of AI, it was never going to be venture scale. Incumbents could use the same technology to automate tax prep for their existing customers faster than a startup could win market share. Tax is also sold once a year, so he had about a one-month window to pivot before the door closed. The pivot became Town, an AI assistant that works from your email and calendar. It found product-market fit…