S10 Favorite: From Plaid to a $1B Unicorn: Killing the Password with Reed McGinley-Stempel of Stytch

Reed McGinley-Stempel grew up in Las Vegas, but went to school on the East Coast. Frankly, he didn't know what he wanted to do and "stumbled" into management consulting. When I dug into how someone stumbles into this profession, he mentioned that early on he got some sage advice from his older brother about not rushing to law school because... being a lawyer isn't that fun. So, he followed some friends to Bain & Company.

The more projects he was involved in, the more he got interested in technology. Candidly, one of his motivations for going in tech was the fact that his was moving out to San Francisco to support his wife through law school at Stanford. He considered continuing to do consulting with Bain, but decided tech was the best route and eventually, joined Plaid. Outside of his professional career, he is into the outdoors, loving hiking and taking his very active dog outside. He mentions that living in San Francisco makes the outdoors super accessible.

Reed and his Co-founder both came from Plaid, and worked on the adaptive authentication team. There, they explored how to secure bank authentication to maintain security, but also do it in such a way that reduced friction and created an amazing experience. They found that the biggest problem to be solved was the combination of security issues with passwords, and the low conversion rate of sign up / sign in forms requiring passwords. They wanted to fix this.

This is the creation story of Stytch.

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Links:

http://stych.com/codestoryhttps://www.linkedin.com/in/reed-mcginley-stempel-17362245/

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