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Why are we still paying for the average 8-hour day when nobody's working 8 hours? Lotts Ezeike left Barclays, spent 3.5 years on a VC bank startup in London. It failed To get his mojo back he built 4 apps. Got all 4 acquired using UGC creators to scale His biggest problem every time: creators wanted money upfront So he built Grade. Payroll for performance Pay any contractor globally with just their email. One click. No invoicing 30 people. Grade handles compliance and payouts The pivot moment: he was on a sales call selling something else entirely. The buyer wasn't listening. He was furious trying to pay a contractor in Ghana who sent an invoice made in Canva with a crypto address "If I built that, would you use it?" "Hell yeah" YouTube already proved performance pay works and paid out $100B+. AI makes us wildly more productive. Hourly is the old default 🎙️ Lotanna Ezeike, CEO & Cofounder, Grade (usegrade.com) "helping companies pay people based on performance" on the Fondo START pod 00:10 ~$1M paid out; “one click” contractor payments 01:10 Payroll for performance; hourly is outdated 02:45 Creators + marketing: performance pay reduces risk (YouTube model) 03:50 Developers: tie pay to Jira/Linear tickets; pay per completed work 04:57 YC lesson: skip the “AI inbox” and start with payments 05:15 Background: Barclays → VC bank startup → rebuilt via app exits 08:02 Fast product moves: “Magic Music” + early API era work 10:09 The pivot call: Canva invoice + crypto address → build payments now 11:22 YC full-circle interview; got the call late in the process 12:08 What’s next