20VC: Plaid and Column Co-Founder, William Hockey on Why the Brands that Win in Fintech Will Not Be Financial Services Brands, What US Banking Can Learn from China & Why Companies Can Be Built Slower than People Think?

The discussion centers on building financial infrastructure and the evolving landscape of fintech. William Hockey, co-founder of Plaid and Column, shares his journey into startups, emphasizing a pragmatic approach to solving current problems rather than focusing on distant future scenarios. He contrasts building within the regulatory perimeter, as Column does, with the more common Silicon Valley approach of building outside it. Hockey highlights the importance of patience, quiet execution, and hiring top-tier talent. He also addresses the "money supply chain problem," advocating for a streamlined financial system where Column directly offers APIs to move, hold, and lend money, reducing the reliance on numerous intermediaries. The conversation also explores the potential of the US financial system to function like a protocol, drawing parallels with crypto innovations.