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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premium responsive service while challenging the traditional accounting firm model of unresponsive service and outdated technology.
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SPONSORS:
Notion
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Puzzle
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RECOMMENDED IN THIS EPISODE:
https://www.linkedin.com/in/nickabouzeid/
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X/SOCIAL:
@nickabouzeid (Nick)
@sashaorloff (Sasha)
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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
Published on 9 hours ago