Albert

Congratulations to our Albert employees who were recently promoted 🎉 and thank you for your continued dedication to our mission of making financial wellness accessible to all! Daria Lamberson Justin Matsnev Francisco Pilia #LifeAtAlbert 💙

In LA, the team went out for a night of bowling. Joey, Vadim, and Yinon dominated the scoreboards (and everyone else dominated the buffet table, instead).

Thrilled to see Albert made the list of Exceptional Startups in 2024 🎉(https://lnkd.in/gaPk6VsV) We’re in good company. Around 130 companies made the cut, based off these requirements: • At least $5m in run-rate revenue • At least 100% year over year growth, (50% minimum if revenue is above $20m) • Raised money from a specific list of venture capital firms And we’re #hiring. Learn more about working with us at albert.com/careers

Get to know the team at Albert: meet Ash, a senior operations analyst on our operations team. 1. What's your super power? I am pretty good at teaching myself useful skills. Whether it’s learning how to replace a cabin air filter, making alterations to clothing or fixing a flat tire on a bike in under 5 minutes. If something needs to get done, I’d rather learn how to do it myself before paying someone else to do it for me. You can thank my dad for that. 2. What are you working on? I recently helped with improving the account takeover process to create a better experience for users while also filling in some gaps in our existing process. I’m currently helping out with improving our Notion guide for completing Genius requests. 3. What’s your favorite restaurant or place to eat? Ok so I LOVE to eat. It’s my favorite thing to do. I love all kinds of food but lately I’ve been craving pho. My fiancé and I recently went to [Pho 87](https://pho87.site/) in Chinatown. Doesn’t look like much from the outside but the pho is DELICIOUS! If you love good pho, I highly suggest going there. Honorable mentions: DTLA KBBQ (Chinatown) and Himalayan Cafe (Old town Pasadena). 4. If you could only read 1 book for the rest of your life, which book would you choose? If I could only read one book for the rest of my life, it would be "Convenience Store Woman by Sahara Murata". It’s about a woman who struggles with the pressure from friends/family to conform to societal standards (i.e. build a career, find a husband and start a family) despite her being content as a single woman working at a convenience store in Japan. It really makes you reflect on what exactly makes you happy in this life. 5. What do you like most about working at Albert? What I like most about Albert is that working here has given me the opportunity to learn many different skills, from having a hand in building the foundation for the Genius team to creating ads and analyzing data for marketing to now helping to improve some of the processes we have in place for banking operations. I’ve never worked somewhere that has given me the chance to explore my different interests and build my skills set like Albert has.

The New York team got creative and attended a private pottery class while listening to Unchained Melody on repeat for 2 hours. Only one of those things is true.

The One Page Budget. Many things contributed to Albert’s path from cash burn to profit, but none more than simplifying the company’s budget to fit on one sheet of paper. Here’s how we did it: https://fnd.news/47DQt7C Charline Munger quipped, “I think that, every time you saw the word EBITDA, you should substitute the word bullshit earnings.” Like many companies did when capital was cheap, we confused ourselves with second-order metrics: the lifetime value of our customer was high so it was okay to lose money today; we're spending 50% of revenue on people because we're investing in the future; our adjusted EBITDA margin isn't terrible; and so on. We burned a lot of money believing this story. When we turned focus to profit, we leaned into our best skill as product builders: simplifying things. We built a budget—covering our entire complex business—to fit on a single 100 row spreadsheet. In your personal budget, you know things are good when cash goes up, and that you have a problem when cash goes down. Businesses benefit from this simple thinking too. To free ourselves from jargon at Albert, we now run core business strategy from our single page budget. Two years ago, we started a quarterly leadership meeting called the "Cash Flow Session." Each quarter, the leadership team, who has full access to company financials, brainstorms ways to increase cash flow. Sitting in a room together with a white board, thinking of ways to save money, always makes money. We relearned a lesson Munger preached for nearly a century: first, focus on making money. Read the whole story at the link above.