< Our podcast: Interchange

Gig Wage Is Giving 1099 Payments A Glow Up

Zach Anderson Pettet
Host
Date Published
(
August 31, 2021
)
Listen Time
(
25
min
)

The gig economy's payments infrastructure was in need of some improvement. So, Gig Wage stepped in to build better, more resilient infrastructure.

The gig economy growing exponentially and gig workers being paid on time are two very different things. There’s duct tape and baling wire everywhere in 1099 payments — Gig Wage is building the infrastructure to get 1099ers paid faster and more efficiently. 

Craig Lewis founded Gig Wage back in 2014 and Ethan Austin joined him as Chief Strategy Officer in 2020. Ethan was previously the Managing Director of Techstars Western Union and invested in Gig Wage during his time there. It’s not often that you see an investor leave their role as a VC to join a portfolio company so we decided to chat with both of these fintech power houses. 

Here are three key takeaways from our conversation with Craig and Ethan. 

Pick A Singular Problem and Focus On Solving It

Craig had been maniacally focused on building Gig Wage for years before they got into Techstars and Craig had been working in the world of payroll at ADP for 12 years before founding Gig Wage. 

Fast forward and Gig Wage has found their product market fit and they’re off to the races. Sometimes it takes years to understand an industry, find the right problem to solve, and build a solution that truly solves the problem the right way. 

Codify Your Purpose and Values

As the CEO and Founder, Craig has had Gig Wage’s core purpose and values inside him all along. He espoused them whilst pitching investors and recruiting, but had never taken the time to codify them in writing. 

As the company was poised to grow by more than two times, it was time to get things set in writing. Craig and Ethan decided to keep it simple and start with two; it’s also easier to remember. “Values are only valuable if you live them,” explained Ethan. The Gig Wage values are simple and to the point: lead with empathy and move with commitment

The second one felt especially important because it’s more of a life motto than a corporate value. Ethan goes on to share that, “‘Move with commitment’ doesn’t necessarily mean you have to be committed to Gig Wage. It just means you have to be committed to something and be great at that.” 

Commit Wholeheartedly 

It isn’t all about work — remember that our identity isn’t our work and our work isn’t our identity. While working at a startup, that can be a hard thing to remember, but it’s paramount to our sanity and performance. 

As CEO, Craig is incredibly dedicated to Gig Wage, but he lives that commitment in every avenue of his life. “It means I’m a great father, a great husband, a great son,” he explains. And the beat goes on. 

At Bond, one of our core values is to “Put people first.”  This encompasses empathy and the commitment to have Bonders live a full and fulfilling life while working hard. We have regular mental health days and prioritize personal growth as much as we can while the company grows alongside us. It’s a good reminder on a personal level. Put on your oxygen mask first before assisting others. 

If you’re interested in learning more about Bond, we’d love to hear from you. 

Reach out to zach@bond.tech or check out our careers page and let’s chat!

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