E59: Why AI Tax Tools Fail the QSBS Test, with Nick Abouzeid of Rivet

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"Tech Finance" with Sasha Orloff: B2B Fintech | AI | Finance Tech

Puzzle, Turpentine

59 episodes

1 week ago

On Tech Finance, host Sasha Orloff brings you inside the office of the CFO - covering major tech finance news including funding announcements, deals, product launches, and emerging players shaping B2B fintech. We break down the week's biggest developments in finance tech and accounting, and explore how finance leaders are putting AI to work. Tech Finance is brought to you by Puzzle, the modern accounting platform with an AI-first ledger, built for speed, automation, and real time decision making. Learn more: puzzle.io Tech Finance is part of the Turpentine podcast network. Learn more: turpentine.co

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E59: Why AI Tax Tools Fail the QSBS Test, with Nick Abouzeid of Rivet

"Tech Finance" with Sasha Orloff: B2B Fintech | AI | Finance Tech

38 minutes

1 week ago

E59: Why AI Tax Tools Fail the QSBS Test, with Nick Abouzeid of Rivet

In this episode, Sasha Orloff talks with Nick Abouzeid, Co-founder and CEO of Rivet, about raising venture capital from XYZ, Haystack, and other angels to build a modern tax and accounting firm that serves 600+ category-defining companies like Cursor by combining world-class tax practitioners with custom-built software infrastructure, delivering premium responsive service while challenging the traditional accounting firm model of unresponsive service and outdated technology. -- SPONSORS: Notion Boost your startup with Notion—the ultimate connected workspace trusted by thousands worldwide! From engineering specs to onboarding and fundraising, Notion keeps your team organized and efficient. For a limited time, get 6 months of Notion AI FREE to supercharge your workflow. Claim your offer now at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://notion.com/startups/puzzle⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Puzzle 📈 No more waiting for month's end. No more manual reconciliations, just financials that keep up with you. Puzzle is leading a new movement with an AI first ledger, built for speed, automation, and real time decision making. Join today at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://puzzle.io/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ -- RECOMMENDED IN THIS EPISODE: https://www.rivet.tax https://www.linkedin.com/in/nickabouzeid/ -- X/SOCIAL: @nickabouzeid (Nick) @sashaorloff (Sasha) -- TIMESTAMPS: (00:00) Preview (00:36) Intro (01:21) Meet Nick Abouzeid, CEO of Rivet (01:57) Rivet unique approach to tax services (02:52) Challenges in the tax preparation market (06:59) Human element in AI-powered tax services (09:33) Journey to venture capital (14:29) Sponsors: Notion | Puzzle (15:54) Scaling and surprises in building Rivet (18:23) Open roles and team dynamics (19:00) Feedback and roadmap development (19:24) International hiring and cost efficiency (20:40) Data integration challenges (21:23) Future of AI in accounting (22:58) Complexity in tax code and software (23:30) Human expertise vs. AI (32:23) Pricing models in tax preparation (34:26) Client success stories (36:29) Looking forward: New hires and future plans (37:16) Wrap