In this episode, CJ interviews Adam Berg, CFO of Zero Hash, about the evolution of financial services infrastructure and the role of crypto in accelerating this change. With Zero Hash’s clients including the likes of Stripe, Interactive Brokers, Franklin Templeton, Shift4, and BlackRock, Adam discusses the importance of blockchain, not just as an asset class but as a fundamental technology that enhances value transfer and settlement processes. He highlights the differences in business models within the fintech ecosystem and the critical need for balance sheet evaluation and liquidity management. Adam talks about the complexities of a B2B2C business model, the challenges and strategies of managing macroeconomic conditions as a CFO, and the importance of a resilient tech stack. He shares insights on the build versus partner framework and explains why he believes that margin compression and price optimization can actually hurt end users in the long run. You’ll also hear advice for anyone pursuing a career in finance as Adam reflects on pivotal career decisions.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(02:08) Sponsor – Mercury | NetSuite

(04:59) The Evolution of Financial Services Infrastructure over the Last 10 Years

(08:03) The Role of Blockchain Technology in This Infrastructure

(11:04) Investing in Web3 out of Belief in Future Versus Fear of Missing Out

(13:44) How Value Is Stored and Moved: Web3 or Inevitable Progress

(17:31) Sponsor – Operators Guild | Maxio | Leapfin

(21:01) The Dynamics of Operating a B2B2C Business Model

(24:53) Zero Hash’s Recurring and Reoccurring Revenue

(26:16) Macro Conditions and the Resiliency of the Tech Stack

(29:51) Why Zero Hash Minimizes Balance Sheet Exposure to Digital Assets

(32:12) Hedging in the Digital Asset Space

(33:18) The Bear Case for Crypto

(35:15) Build Versus Partner Frameworks

(40:33) How Margin Compression and Price Optimization Can Hurt End Users

(45:15) Long-Ass Lightning Round: A Life-Changing Phone Call

(50:57) Finance Software Stack

(52:47) Craziest Expense Story

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The New Backbone of Finance: Zero Hash's Adam Berg on Financial Services Infrastructure and Crypto

Run the Numbers